How do businesses find and hire board members?
Asked by
JLeslie (
65419
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June 1st, 2021
There are headhunting services that have people pay a fee to be in their database, and I am wondering if that is a sham? They say they deal mostly with smaller companies, so I guess that is supposed to help build someone’s resume that they have board experience, but does it? Does being a member for a smallish business help get onto the board of big businesses, or does it pigeon hole the person?
Do companies use these database services to hire board members? It seems odd to me that someone would have to pay to be in the database.
How do people usually go about getting their first board member job? I am actually a board member of the company I work for, but I think most times board members are independent from the company, especially public companies.
Any information you have on the topic that you think is relevant is appreciated, not just the questions above.
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10 Answers
Most people I know on boards are affiliated with the organization in some capacity. At some point they are recruited to the board.
I’ve never known anyone who paid for that honor.
Usually they are people who have invested in the company. The more stock they hold, the more important their POV is worth.
I’m on our local board for Habitat for Humanity. I looked them up one day, thought they could use my services, offered and BAM! I was on the board.
@Dutchess_III I’ve always wanted to volunteer with them to work on a house.
Did they pay you when you were on the board?
I am still on the board. It’s strictly voluntary.
@JLeslie I’ve been on the board of several non-profits. I’ve never been paid for it.
I don’t know how it works for corporations but I always thought it was more of a stakeholder and prestige position, not a money making sinecure. I could be wrong.
@janbb Big corporations pay $200k-$300k generally. It’s a great “retirement job” for people who had careers in the corporate world. They have to show up for meetings 4 times a year and be available throughout the year.
I’m a board member for the company I work for but I don’t get paid anything extra for it.
For profit corporations are far different from small companies. And non-profits are a whole different world.
I’m currently on the library board in my city. I filled out an application, answered some questions, and was asked to serve. No pay, just altruistic good feelings.
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Corporate boards are a whole different thing because of SEC and fiduciary rules and all sorts of legal stuff.
I should have been clear that I was most interested in corporate board of directors of medium to large corporations. At the same time, I really like all the answers so far so I’m happy that jellies are answering about all different types of boards.
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