When most people think about a Board Director role, they think of it as a great professional opportunity, but one that is for retirement or the end of their career. With more and more people hoping to stay active during their retirement, board positions are a great way to replace W-2 income with 1099 income and to remain engaged. As boards seek greater diversity in thought, we are seeing a trend toward adding executives who are still active in operating roles. So, if you still haven’t begun searching for your first Board Director role, here are five reasons why you should start now:
1. Board Roles Expand Your Network.
Most people who are on boards get there because they enjoy networking and already have a strong professional circle that afforded them a board opportunity. When you serve on a board with these types of leaders, you will be able to expand your existing network with influential people outside your current industry, with different backgrounds and insights. This new, stronger network can be an asset for the rest of your career when you are looking for new executive jobs and new board opportunities.
Being a member of a corporate board shows hiring managers and executive recruiters that you are a leader who can assess an organization strategically and successfully manages change. A board role is an impressive addition to any resume, CV, or LinkedIn profile. As soon as you join a board, it will have a positive impact your visibility and make you easier to find when executive recruiters are sourcing candidates to fill an exciting, executive opportunity.
Corporations are looking beyond sitting CEOs, the traditional choice for board roles when filling in the gaps. They are looking for next generation leaders who understand today’s business climate and modern market disruptors. And it’s not just younger members they are looking for; companies are hoping to build boards that are fully reflective of their target market with people of different genders, races, backgrounds and life experiences. This combined with many board members approaching board retirement age, is making more seats available for younger candidates with fresh perspectives.
Oftentimes in the hustle and bustle of daily life, it is easy to become siloed in your executive role. Serving in a Board Director role gives you a chance to gain cross-functional experience and new business perspectives. From listening to other board members and seeing how the organization operates, you will be able to learn different ways to approach problems and find new solutions. Those takeaways can not only help you during your time on the board but can also give you learnings that you can apply now, but in the future as you build your executive career.
Just like when you made the leap to the executive-level, you will find that landing your first board role is the hardest. . While you are working, you can take your time looking the right role that matches your skillset and hear about more opportunities by utilizing your network while it is at its strongest. Take this time to optimize your resume/CV and executive bio to best set yourslef up for the board search process. After landing your first role while you are employed, you can then line up more advanced opportunities when you are ready to retire.
Want help preparing for and finding your first Board Director role? Our Executive Career Services team can guide you through the process, help optimize your career documents and provide interview preparation with our Board Ready Package. Learn more about Executive Career Services >>