A board member is a crucial job that entails serving as an individual’s fiduciary. The primary roles of a board include governance, oversight, and accountability, as well as setting a clear strategy. Board service is also an excellent opportunity to support an important mission in your local community, and often has a profound impact on the lives of people and organizations.
In a 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 management, and not the board, that has the most power. Directors generally follow management’s advice and approve of them.
When deciding on the members of your board, it’s crucial that you find individuals with the appropriate skills in addition to the character and experience necessary to fulfill the position. Competence refers to their abilities to understand complex problems and make sound decisions. Character is an expression of your organization’s values at the core, and the way you choose your members represent those values will reflect what your company stands for.
Your network is an excellent place to begin your search for a candidate. Ask a trusted person from your network or community whether they have connections to the executive director or board. Introduce yourself https://boardshould.com/ and tell them why you’d like joining the board. Also inform them of your experience in attending meetings and being prepared.
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