Want to Join a Board? Here are Five Things You Need to Know

For exactly a year now, Fearless Girl has been on watch outside the New York Stock Exchange, standing tall in support of more fearless women in the boardroom.

While Fearless Girl has inspired millions outside the Exchange, I’ve been working inside to tackle diversity in a slightly different way. My focus has been on advancing diversity in the boardroom by leveraging the power of our global NYSE community.

In June, we launched the NYSE Board Advisory Council with 16 of our Founding Member CEOs, all of whom have pledged a commitment to tap into their networks to find talented, diverse, board-ready men and women.

In just a few short months, the Council has already established a database of over 100 board candidates. In turn, we’ve introduced these candidates to our vast network of NYSE companies looking to fill board seats (we just held our last Board Networking Summit on Monday).

Working on this initiative has been deeply gratifying. It’s also given me additional insights into the challenges and issues people face when trying to obtain their first board seat. In my conversations with CEOs, I’ve learned that there are five things you need to know if you’re looking to attain that coveted seat on a corporate board:

1. The board member is not management. First-time board candidates sometimes confuse the roles of executive and board director. While the two work closely with one another, their responsibilities are different. On boards, your job is to uphold the vision and integrity of the company and advise the CEO. Sometimes a new board member will misunderstand this distinction and try to manage the CEO and team, which can lead to a poor dynamic in the boardroom.
2. Networking is critical. Networking is a MUST if you’re interested in joining a board. According to a report from executive search firm Vell, 92 percent of board seats at technology companies are filled through networking.That’s incredible but not uncommon. If you’re looking for a board seat, chances are you will land that role through your network.
3. Raise your hand. On that note, having a network doesn’t do you any good if you’re not speaking up about your interest in joining a board. People can be shy about telling others they are looking for a board seat. Don’t be. I’ve heard from several candidates who’ve joined boards that things changed for them when they began proactively communicating they were looking for board opportunities.
4. Leverage your “superpower(s).” There has been lots of discussion recently about professional superpowers–those unique strengths that enable each of us to shine in the workplace. Perhaps you’re a really great people connector. Or you have vast experience in the enterprise software market. Whatever those superpowers are, market them heavily and look for companies where your background would be a valuable asset.
5. Don’t be afraid to highlight your diversity. Companies are looking to diversify their boards, management teams and employees. Few CEOs are shy about saying this and neither should you. Don’t be afraid to highlight what makes you different–whether your age, expertise, race or ethnicity.

Board seats can be a wonderful opportunity to share your skills and knowledge and help an organization succeed. They are also highly competitive and to earn a seat at the table, you need to be very intentional and strategic. In other words, be fearless.