The Sunday Mail
BoardroomTalk
Dr Proctor Nyemba
Why do you want to join a board? As we advance in our careers, especially as we grow older, we may develop an interest in serving on boards of other companies. Before making such a commitment, there are a few things to keep in mind and a few questions you need to ask yourself.
Why are you doing it?
Serving on a board will require you to invest time, emotional energy, and mental effort and potentially miss out on other opportunities.
Finding a role on a board should be like finding a great job that you want. It would help if you liked the organisation and were inspired by its leaders and ambition. In other words, you want to make sure your interest in the commitment is genuine. Then perhaps it can be a great long-term fit.
Where do your skills and experience fit best?
Depending on the board’s composition, a board member can be a financial expert, an industry expert, a digital expert, or even a successor to the chairperson.
How do you see yourself fitting into this board?
If you have profound experiences in a particular industry like HR or manufacturing, you might serve best as a domain expert.
Don’t try to join a board just for the sake of a role. You need to enter a board where your skills will be put to meaningful use.
Who do you know
on a board?
Board seats are typically filled by recommendation. Consequently, board members who are currently on the board look for replacements through their social networks.
You’ll likely be appointed to the board by someone you know or someone they know.
The same applies in reverse. You can express your desire for a board seat during conversations with peers and on social media sites like LinkedIn.
It would help if you were as detailed as possible. Patience is also required. Many board positions become available only occasionally. You are more likely to find one through one of your existing connections.
Are you certified to
join a board?
Finally, consider getting certified if you hope to get a board seat. Some countries, such as Canada, have made board certification a requirement for joining a board. A similar requirement is also being pushed in the US. It makes sense to get certified now, as there will likely be a shortage of certified board members when the new laws emerge.
Top tips — how to
join a board
If you’re interested in serving on a board, be methodical and patient as you look for the right fit.
Look for an organisation that would be a good fit for your skills and experience, and if you know someone who has served on a board that meets your criteria. To put yourself ahead of your competitors, you should also consider becoming a certified board member.
Ten tips to becoming a more effective bACoard member
Get to know the organisation
Familiarise yourself with organisation before you join the board. This involves reviewing the organisation’s mission statement, operations, financial status, board structure and liability insurance.
Documents that will help you include annual reports, the most recent audited financial statements, a list of current board members, brochures and articles about the organisation, and a biography of the CEO or executive director. A board manual should be provided to you that will detail this information.
Know your responsibilities
as a board member
Volunteer boards are ultimately responsible for what happens in the organisation. This should not deter you from becoming involved however, you should be aware of your legal responsibilities.
Avoid a conflict of interest
A board member should always act in good faith and avoid any conflict of interest with the organization.
If you have any vested interest in a contract with the organisation, or a contract exists in which you stand to gain personally or professionally — that is a conflict of interest.
You must disclose all information and abstain from the discussion or vote on the issue.
Support the board’s final choices
Support the board’s final choice even if you voted ‘no’ on an issue. This does not mean you have to “pretend to agree”, but you must support the authority of the process and the final decision. Once a decision is made, the board speaks with one voice.
Maintain confidentiality
Keep sensitive information within the boardroom setting. Do not divulge sensitive information to anyone including family members, friends and colleagues.
Don’t be a board hopper!
Sitting on too many boards may result in your not having enough time to effectively commit to any of them! Be fair about the time and commitment you are able to give to an organisation that nominates you to their board.
Be open-minded
Do not obsess on a single issue and be open minded about other opinions on an issue.
Learn how to read financial statements
Take the opportunity to read the financial statements of the organisation. You may not be an accountant but it is important to have some level of understanding of the financial statements that may be presented to you.
Be prepared to participate in board meetings
This involves reading your board packets beforehand and reviewing minutes of the last meeting.
Take advantage of training and development opportunities. Take advantage of education and training development opportunities offered by the organization. This will increase your skills and quality of service to the board which you represent.
Dr Proctor Nyemba is Certified Professional Director®-Pro.Dir ,ICDZ.CDir,CGPro,CBA,CFE, (CICP),CRM -ISO 31000 For comments and feedback please send to [email protected] Call 0772469893, 0719469893.
