Image Credit – www.jackizehner.com

A very interesting and important initiative by Biz Divas Foundation is to help senior women executives explore role in board positions.  I was a part of recently organized ‘Table of eight’ – a power luncheon meet. This was specifically designed for women already serving board positions and for women interested to plan and move into board roles.

The conversation was free flowing and touched upon various relevant questions regarding women on board. The Why, What and How of the Women on Boards was discussed and debated.

Why should women consider Board position?

A majority of working women professionals would have never have put being on board as a career goal. This is because of (a) lack of awareness of what board position means, what does it entail and why should it be a career goal? (b) Board position traditionally has been regarded as roles for senior retiring executives with time on their hand and interest in being connected with the power centers.

However, in today’s scenario, this perception is changing. Importance of corporate governance has increased and is being discussed on important platforms. Board positions gives us the big picture of the business in existence – whether social initiatives or for profit establishments. It gives an opportunity to guide and influence, and if we have the skills and capabilities, why not.  It serves as good next phase of our career. Also, if one wants to transition from a full time job, it keeps one engaged with a purpose and meaning. If one takes a board role with a non for profit organization, it gives a means to pay it forward to the society.  The law supports women on boards and has made it mandatory for organizations to have atleast on woman on board – there’s a huge opportunity. It is also considered as prestigious and for select few. Hence, executive with 20 + years of experience have started showing interest in being part of Board of various organizations.

What does Board position entail?

The Board of Directors is the body responsible for the organization’s highest level of decision-making and legal authority. The governing board is accountable for, and has the authority over, the affairs of the organization. The board is made up of individual board members acting together as a whole and is responsible for the progress of the organization and the identity of the association. As a member of the Board, there are numerous responsibilities and expectations, such as: (a) Assist in determining the organization’s mission, purpose. (b) Provide proper financial oversight (c) Ensure legal and ethical integrity and maintain ordering zithromax accountability etc.

You are a part of the board because you bring a specific skill and would be expected to add value in that area. Hence board members are also accountable in court of law. The personal liability as a board director is very high. A board member is also accountable in the court of law. You should be passionate or interested in the sector, know the organization or people behind the organization well and do a proper research on facts, figures and ethical standing of the organization.

How can you join Board Roles?

Like any other PDP (personal development plan), one has to prepare to be ready for a Board role.

• Have a good board ready CV and professional pitch – It should be concise and contain a summary of your profession skills (gathered and displayed through your career) and the value you bring. Make sure your online presence, especially on linked in also is updated and talks the same language.
• Understand duties and obligations of a Board role – With power and position, comes a huge responsibility and obligation. Study, get educated, and attend professional short term courses to understand the nuances.
• Speak about your Board ambitions- It’s important to let people know that you are open and ready for board roles. Make sure, you add this to your linked in profile as well. Something like “Seeking Director role/ Board role” will let people know that you could be a potential candidate.
• Create Visibility – Your offline and online presence will help you get in the consideration list. Be seen on forums, be present in networking events, voice your opinion and be seen as thought leader. Strong visibility helps get good recommendations thus increasing the probability of selection.
• When the opportunity comes, go for it. The opportunity might come from a different sector, from a non for profit or start up organization. Once you have studied the organization and have done a due diligence of the stature and reputation of the organization, take it up. All businesses are tied with a unified thread of common sense.
• Know about your company’s policy on executives taking board roles – This is essential as each organization has their own policy on allowing employees to take a role or responsibility outside the company.

Develop a road map for your Board career. This may include taking a stepping stone approach starting with not-for-profit boards or community-based positions, working with a start-up or emerging business. You may also consider finding a board internship, a sponsor or mentor who would help you connect with right network, build your visibility and finally recommend you for board positions.