Pros of Board Members
Being invited to join a Board is a big deal for many people. It can increase your standing, broaden your network and ultimately lead to more opportunities in your profession or business.
If you’re still not sure if serving on boards is worth the effort of meetings, settling feuds, and reading financial reports, take note that money isn’t a major motive for board members. Your board experience will help you develop various professional abilities, which can be extremely beneficial to your career.
If you’re on the board of a company that is in its infancy you may be able to play a role in running the company that you would not be able of in your current job. This could be the case for boards that are situated on areas such as insurance/managed care and medicine law, finance/banking real estate, marketing or public policy, to name a few.
In addition to the learning opportunities Board membership gives you the chance to collaborate with executives and leaders from a variety of industries. In turn, working with them as a team to address difficult issues can create solid bonds that last to the personal level.
There are a variety of other factors that affect the decision to join a board, which includes the compensation package and perks that are unique. They can range from the use of a company jet to the ability to test products of the company. It is crucial to be well-informed about the expectations of your organization, including time commitments as well as clear communication and your capacity to contribute.