A new year often means new plans, goals, and resolutions. As an accomplished professional, securing your first board seat may very well be on your 2024 list of ambitions. However, are you ready for the boardroom? When is the right time to go after your first board seat? We all need to learn how to walk before we run. In this blog post, we will highlight key elements to securing your first corporate board role and the first steps to getting yourself board ready.
Age is just a number.
Joining a board is a unique way to shape your career. While providing value to the corporation you are on the board for, you improve your leadership skills, enrich your network, and enhance your impact. Statistically, the average age of board members at Fortune 500 companies is 63. However, that doesn’t mean there is no room for younger generations on boards. In today’s market, many companies are looking for specific skills that younger professionals are sometimes more experienced in, like cybersecurity or digital transformation. Bridging the gap between the leaders of the past and future, as well as learning more about the perspective of the next generation of consumers, makes millennials (age 28 to 43 in 2024) and even Gen Z with the right credentials attractive to many companies. What you can bring to the top table is more important than how old you are. There is no right age to start pursuing a board position. However, if sitting on a corporate board is a career goal for you, it makes sense to take the necessary steps to get board ready sooner rather than later.
Credentials and connections
Ideally, you are an experienced leader, like a C-level executive, director, executive vice president, or vice president. Being an expert in some of the key challenges for corporations in today’s market, like diversity, equity, and inclusion (DEI) or sustainability, is a good differentiator. However, a resume alone is not enough. Networking is essential to landing a board seat. If you are serious about joining a board, you should build and maintain your professional network. If your circle only has a few people already sitting on a corporate board, invest in expanding your network. Joining a community like Corporate Boards USA is a great way to meet people who can help you get your first board position.
It’s a matter of time.
Meeting the baseline requirements and having a large network doesn’t mean you will get a board position overnight. Becoming a qualified board member takes time. And so does being one. Before pursuing your boardroom ambitions, make sure you are at a point in your career and life where serving on a board fits in your schedule or you are willing to make room for it. Being on a corporate board requires commitment and responsibilities beyond the board meetings themselves.
Get started.
Finally, when it comes to landing your very first board role, don’t be afraid to start small. Most candidates considered for a board position are highly qualified and have a long and successful career. Gaining boardroom experience at smaller corporations or non-profits can be a valuable asset on your board profile, give you governance knowledge, and expand your network. On the other hand, if you want to climb the ladder to the board of big corporations, you have to be bold sometimes. It is a competitive space. Expanding and strengthening your network and skillset is a must. Whether or not you were successful in getting a board seat previously, it is essential to continue investing in your board profile and relationships. If you are serious about joining a corporate board, you have the credentials, and your schedule has room for it, it is a great time for you to go after your first board seat.
At Corporate Boards USA, our mission is to prepare executives to be highly qualified board candidates. We offer our members educational courses and events, networking opportunities, boardroom news, workshops, and mentorship programs. Learn more about membership. We Make You Board Ready.