A board member is a top-level post that entails acting as a fiduciary on behalf of an company. The primary responsibilities of a board are governance, oversight, and accountability, in addition to creating a clear plan of action. Board service is a unique chance to contribute to an important cause in your community, and has a profound influence on individuals and organisations.
In a strategic planning team publicly held company, the board represents the owners (shareholders or stockholders) and sets policy that determines issues such as whether or not to pay dividends, the size of the dividend, stock options granted, and hiring/firing/compensation of upper management. In reality, however, it is the top management, not the board that has the most influence. Directors generally follow management’s advice and vote for them.
When selecting candidates to join your board, it is crucial that you select candidates who possess the qualifications, as well as the expertise and character that is required for the job. Competence refers to their abilities to grasp complex issues and make sound decisions. Character is a reflection on your organization’s values. The way you choose individuals who embody these values will reflect the values of your organization.
Your network is a great way to start your search for a candidate. Contact a trusted member of your local community or networking group and ask them if they know someone on the executive director’s or board. Then, introduce yourself and explain why you are interested in joining the board and what your track of record is in attending and being prepared for meetings.