The fine art of board member recruitment and onboarding is complex. Your organization needs a board recruitment strategy that identifies new candidates every year, all year long, oftentimes when bandwidth is limited. Planning ahead ensures you recruit and develop the board members you need, not the ones you find at the last minute.
Ryan Dougal, Director of Partnerships at Boardable, spoke with Megan Wang, COO of theBoardlist, to break down finding and onboarding the best board talent possible for your organization. Check out our recap below on finding your next board member.
I Know I Need to Find a Board Member…What’s Next?
Boards can be constantly in flux. Terms come to limit or people no longer have the time to commit. It’s important to understand to have steps in place to start your search for the next candidate.
1. Facilitate a gap assessment or skills matrix. It’s important to work with your Board to build out what areas of experts and experience you have. This will also help you identify the gaps you want to fill and ensure you’re moving your board forward. Assessing your board’s DEI Gaps and Opportunities will help you lay the groundwork for finding the best fit.
2. Build a board or position specification. These are slightly different from a job listing. This will help identify what are key needs for industry, the function, and other specific skills (ex. – on a startup board you might want someone with IPO or growth and scaling experience to help your company go public).
3. Build trust and transparency with the people you are going after. At the point you’ve identified good candidates, it’s important to be transparent about financials and your company. You’ve trusted them this far already. It’s also important to do your due diligence on them as well.
4. Make a compelling offer. Make sure they share the same mission and understand your benchmarks. Give them an offer that both can be excited about.
How Has Board Diversity Progressed Over the Past Few Years?
Diversity has been in the DNA of theBoardlist since the beginning. Diversity is about perspective and comes from lived experiences of different demographics or different work experiences from other environments that help eliminate echo chambers and assess blind spots.
The conversation today is moving from why it’s important to how we move this forward.
We are at the intersection of macro trends and covid has made inequities more apparent. California passed legislation and it has led the way. Companies like Nasdaq and Goldman Sachs (theBoardlist Partner) have diversity requirements now and lead by example.
Now You’ve Found Your Candidate, How Do You Make Them Successful?
You’ve cast a wide net and been thoughtful of who you are recruiting to your board and found the perfect candidate! What’s next?
You want to make sure the experience remains just as important as finding the board member. This starts with great onboarding. Tools like Boardable can help enable your board members for the digital future
There are some steps you can take for great onboarding too:
- Provide as much information about your organization as you can.
- Provide corporate decks, historical numbers, a timeline of company milestones, messaging guide.
- Make connections with the other board members and prepare them to have impact and value on day one.
Continuity and Governance
New board members need to be able to jump in and understand the finances and fundraising. Having a management system where this is easy to find will help that. Boardable has a document center with everything in one location.
You can also find full records like meeting minutes being automated and annotated. Being able to have one source of data and truth out there for boards helps them to be agile and keep moving forward when board seats are up.
With Boardable, you can find every key initiative that an organization has gone through and find all information funneled from the top down.
Want to Learn More?
If the information above resonates with your goals and you want to view the whole webinar, click and register the live link below to receive a replay!
Additional things covered in the webinar include:
- Enabling Board members for the digital future with technology
- How do we take our mission and drive the next stage
- How does theBoardlist vet their network?
- Examples of Board databases and useful places to look
- Tips on how to reach out to networks
- And More!