Tips to be an Outstanding Board Candidate

If you are considering an independent board seat, you are probably aware that gaining one is highly competitive. Even if a headhunter reaches out to you as a potential candidate, they will probably be engaging with numerous highly qualified individuals equally capable of excelling in the position. You must be seen as an outstanding board candidate to make the initial cut and be invited to the board interview stage. To be offered the role, you must show why you should be appointed over the competition.

Here are my essential tips to position yourself as an outstanding board candidate.

Tip 1 – Consider whether you are a good match for the role

If you are not a good match for the role, it is extremely unlikely that you will be viewed as a top candidate. What do I mean by a good match? First, look at the selection criteria in the vacancy ad or the position description. Some organizations will list essential and desired criteria.

Generally, the top 10% of candidates are graded as A or A+ when assessing board applications. These applicants stand out because they meet the essential criteria and many of the desired criteria. The desired criteria may not be listed in the ad. In this case, I recommend you reach out to the role contact and inquire what else they may be looking for.

Not meeting all the desired and essential criteria does not mean you are not a good match. Rarely will a candidate tick all the boxes.

Tip 2 – Articulate the right reasons why you want to become a board director

We all have our reasons for wanting to become a board director. Some of the most common ones are:

to supplement income
to transition to retirement
to make a difference and contribute
for personal development
to learn new skills that will enhance your executive career

Whilst these are all admirable reasons to pursue an independent director role, they may not be the reasons that will make you an outstanding board candidate. You should never articulate that money is your motivation. You should also avoid one-sided personal or cliche reasons such as giving back.

You need to consider what motives the chair or selection committee consider compatible with the board and management team. You also need to consider what the competition is likely to say. To stand out, you should be telling them specifically that you have something of value to contribute to the board, which will, in turn, benefit the organization and its stakeholders. Your reasons and pitch should be customized somewhat to best suit the role, the organization and the work they do.

Tip 3 – Show your passion

Boards and chairs see the value in and seek passionate board members. They know that the role will sometimes be thankless, require time and commitment, and may take you away from your other obligations (professional and personal). Even if you are remunerated, the pay will not reflect the time and responsibility required.

Chairs know that passion drives enthusiasm. This enthusiasm is required to ensure that independent board members go the extra mile, complete their full term or tenure, and perform and contribute at the highest level.

To be an outstanding candidate, you must show that you share their passion for the role and the organization. If the organization is a not-for-profit or charity, you must show your passion for the cause and its work. This type of passion can not and should not be manufactured. You will need to be authentic in your approach.

Tip 4 – Acknowledge the basic skills required to be a board director

Most boards commonly value some skills, while others are highly valued. If you have some of the less common, highly valued skills, you will be an outstanding board candidate.

The common skills that most boards value include:

strategic decision making
analytic skills
adaptability
accounting and financial literacy
business acumen

Skills that are highly valued, setting you apart from the competition include:

information technology
cybersecurity
governance
change management
risk management

So, if you have any of the above (or other) highly valued skills, articulate them in your Board Value Position (BVP). Your BVP should be included in your Board CV and LinkedIn profile. When applying for an independent board role, referencing your common board skills is also essential. Do not assume this is an obvious conclusion from reading your executive and board experience summaries in your board CV.

Tip 5 – Can you offer diversity

Diversity matters when it comes to what you have to contribute as an independent board director. Diversity at the board level is not just about gender; it includes:

Ethnicity
Religion
Age
Sexuality/Transgender
Disability

Many boards seek diverse members to meet diversity requirements and expectations or because they value the contribution that diversity and lived experience can make to conversations, recommendations, problem-solving and solutions, innovation, and purpose.

Take age, for example. Senior board directors are frequently chosen for their extensive experience, deep knowledge, and demonstrated track record of success. However, younger candidates can offer energy, total commitment, new ideas, specialist expertise, and different experiences. Younger candidates are also less likely to have conflicts of interest, allowing them to act entirely independently.

Consider whether you have any specific or unique diversity that would make you an outstanding board candidate. You may be more diverse than you thought. Then, know why diversity is valuable and to what boards and organizations.

Tip 6 – Keep in the loop

Outstanding independent directors are at the top of their game partly because they continually learn. They ensure they keep up with the latest information, regulations, research, trends, governance issues, and technological advances in their relevant industries and markets.

Keeping in the loop can provide valuable insights that can be leveraged to show that you are an outstanding candidate. Joining industry and professional associations and organizations may also help separate you from other candidates.

Tip 7 – Nurture your networks

Finally, you must consistently nurture your networks. Your networks have the most value when looking for board opportunities, but can also help you stand out as a top candidate during the appointment process.

When writing or customizing your board CV and other board application documents, review your networks to determine which contacts you should consider as good referees. Do you have any contacts that, if you listed them as a referee, may be noticed by the reader and add some extra value to your application? Seek someone with substantial board or industry experience, recognized business stature, or robust business acumen. Whilst this is only a tiny element of your application, it may be the one thing that separates you from another candidate.

Your networks and connections may be extremely valuable to the board, making you an outstanding board candidate. Boards know that establishing and nurturing external networks are strategic in doing business at the top level. So, when appointing new directors, they often seek candidates with connections that can bring new business opportunities or open doors they have struggled to access.

In Conclusion

Becoming an outstanding board candidate requires a multifaceted approach that goes beyond your basic qualifications and experience. It involves self-awareness, articulation, passion and a proactive approach to enhance your board profile significantly.

Additionally, boards that value diversity and candidates who can demonstrate how their unique attributes contribute to this diversity often find themselves in a more favorable position.

Knowledge of industry trends, regulatory changes, and governance best practices is essential, showcases an ongoing commitment to professional board development, and equips candidates with fresh insights that could enhance board discussions and decision-making processes.

Finally, leveraging your networks is invaluable in numerous ways. The precious time spent building them can pay off by helping you become an outstanding board candidate.

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