Women on Boards- 5 Strategies for Success

A common question that comes up with a lot of my clients of late in terms of their own professional career development is- how do I utilise all my experience and get into a board position? I recently attended a fascinating lunch and learn session sharing insights around board level positions and how to plan for, position yourself and choose the right board for your career and commitment. There was a clear theme around the room- there is the interest, there is the drive and there is the hunger for board level positions but, where should someone even start?

1-????Focus on your potential over performance

One of the first thing to consider is starting to focus on your potential versus performance. It’s about calling out more boldly and clearly and articulating your potential for these positions. It’s about learning to have the conversations and questions we can often be uncomfortable having to position yourself for success and networking. You may not be ready for that board level role yet, but one of the board level members sitting in the chair at this event took her first board level role at 29 years old. So, the idea is to start before you think you are ready and figure out the rest along the way.

2-????Develop some core skills valued in boards

There are a few key skills that are often highly valued in a board position so looking at these as part of your career development strategy and pathway are highly regarded for board level roles.

Corporate governance: At a board level you need to be able to articulate and practise good corporate governance. This is a skill that permeates a whole organisation and if you want to change, impact the world and leave it as a better place than this needs to be an underpinning value you hold and can demonstrate competence in for board level roles.

Profit and loss. At a board level you need to really get to know your P&L and become comfortable with the financial responsibility and detail required at a board level. Being accountable and understanding the implications of financial results is a universal skillset that came up as being required to get a seat at a board level position.

There are key skills wanted at boards and a spectrum of competencies and skills. Some of these may include a strategic mindset, technical knowledge and behavioural competencies. You need to be able to identify and articulate your skill capabilities and reflect on what boards you would be looking for. Annual reports and reading through the Chairman’s report and key challenges identified can help you understand where you are against that benchmark and develop a strategy as to how you can position yourself for that board’s particular needs.

3-????Select the right board

Once you have identified you want to be a board member, the next step is to select the right board for your unique value proposition and this takes research.

You should assess the effectiveness of the board on decision making and culture development and look very closely at the Chair and their values and corporate governance.

It is the Chair’s responsibility to constructively critique, provide the framework and it is well known that moving from Director to Chair can be three times the increase in responsibility so the person heading up this role is someone you should be looking at very closely.

You need to look at the Chair of the board and ask yourself if they have the right values and look closely at how they steer the ship. The average board level position commitment is 9-10 years so this decision shouldn’t be taken lightly.

4- Volunteer at a school board

Look at the real value you add and match your skill set to the right board. A great way to get exposure is to get board experience at a school. They have complex legal and regulatory frameworks that are a perfect starting point for building your board level career. Schools struggle getting valued members at this level so this is one area you can put your hand up.

5- Don’t go “overboard”

One thing you should avoid when looking at board level position is “overboarding”. Tread slowly, read the papers and ensure you have that day allocated a week for the board commitments so that if something crops up you need to deal with urgently then you have the time allocated with your schedule.

Being a part of the right Board can be a way to leave a legacy and impact in the world which can be truly rewarding when you make the right commitment.

With women holding just 29% of board level positions, there has never been a better time to start planning for change and steer your ship towards a future Chair position.

You'll never get there if you don't start somewhere.