The success of any company hinges on many factors. Without a doubt, its board is an integral component of its ongoing growth and stability. Selection criteria are essential here, as the quality of your board members will come down to why you recruited them in the first place.
When searching for board members, ask yourself the following:
- Are there any gaps in the current board?
- What skills and qualifications are most important to the company?
- What makes this company attractive to prospective board members?
When recruiting new members, consider the top qualities your company needs and what would mesh best with your existing team — this will save you time from having to go through this process multiple times.
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Standard Qualities to Seek
Board members typically oversee a team of diverse people with different opinions and experiences; therefore, being a team player is critical.
How can a leader lead without a solid foundation of industry-specific knowledge? Understanding the business, target clientele, key relationships, and the day-to-day process is vital.
CEO experience ensures prospective board members will have the capability to lead a team of professionals. In addition, former CEOs, especially from diverse companies, will provide your board with the appropriate mindset, mentorship, and empathy that other board members may not have.
Availability is an overlooked factor; however, confirming prospective board members have the appropriate time for the role is essential. Something so simple can help prevent a situation where you’re scrambling to fill a vacant board member position due to time management.
Top Recruitment Tools
After you’ve narrowed down exactly what your company is looking for, consider these recruitment tips and tricks.
Build A Nominating/Governance Committee
Assembling an excellent board is a significant responsibility and shouldn't lie in the hands of a single person. Instead, the organization should set up a committee of trusted advisors who have dedicated time to the company. This committee will also ensure the ‘board pipeline’ remains full, as they’ll continuously be screening the community for any potential candidates.
When searching for potential board members, incorporate DEI into your decision-making process. This is a critical approach that’s imperative to the success of any organization as they aim to create a comfortable work environment for all. In addition, a company with a proven DEI track record will also widen your pool of candidates who would be interested in your organization.
The workforce is made up primarily of the millennial generation; therefore, companies must adopt modern recruitment methods. LinkedIn, Twitter, and even Instagram can all be tools for prospecting depending on your industry. In addition, social media is an excellent source to spread the word about vacant board positions.
Leverage Your Current Network
Your prospective board member may already be employed within your organization. Seek out existing members with leadership potential and consider them for promotion; this will eliminate the hassle of outside hires. Hiring from within is always an easier process, and growth opportunities are a benefit that many employees seek and appreciate, especially millennials.
Board recruitment is a never-ending and full-time job. However, implementing the practices in this guide will make finding your top board members more manageable. It’s no easy feat, but it's a worthwhile endeavor for the success and stability of any company.