Pros and Cons of Board Members
Being invited to join a board is significant for many. It can boost your reputation as well as expand your network and ultimately result in more opportunities in your career or business.
But, if you’re not sure whether serving on boards is worth the hassle of meetings, settling feuds, and reading financial reports, you should consider that money is rarely a major motive for board members. There’s a variety of professional skills that you can be developed through your experience on the board and these are extremely beneficial to your professional growth.
For example, if you are on the board of an early stage startup, your job could require you to manage the company in a manner which is impossible to perform in your current job. The same is true for boards that are based on areas such as insurance/managed care or medicine law, finance/banking real estate, marketing or public policy, among others.
A board member has the chance to learn from leaders and executives from completely different industries. Working together to solve complex issues can create solid personal bonds.
There are other elements that influence the decision to join a board of directors, including the compensation package www.boardroompros.com/e-learning-for-board-members/ and perks that are unique. These could include the use of a company aircraft to the ability to test products of the company. It is important to ensure that you are well informed about what you can expect from the organization in terms of expectations regarding time commitment and clear communication, as well as the ability to contribute.