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The One Word To NEVER Use When Looking For Board Roles
Michelle Gardiner • February 14, 2019
When transitioning from executive life to a non executive director career, the word ‘retirement’ should not be part of your vocabulary. Steve Boulton, a seasoned Director expressed the importance of avoiding being perceived as obsolete, “You’re in transition will suffice”, it is all part of a mindset shift when making the decision to transition out of your executive career.
With executives eager to drive their transition to a non executive career, Leeanne Bond, encourages pursuing an executive career in its entirety before transitioning to a non executive career. It is all too often that the valuable learnings gained from an executive career fall short by being too quick to transition. It is these valuable learnings that shape your value-add proposition to a board, increasing unique capability and skill set.
When planning your transition from executive life into a portfolio career it is important to keep in mind a board portfolio is a marathon
not a sprint, often taking a couple years, building your experience on different boards as you go.
Our speakers spoke to the following insights:
- Choose your boards carefully, being a successful board director does not necessarily mean having experience on an ASX200 board. There are a vast amount of interesting opportunities that exist outside the ASX200, including roles on private company boards, government roles and the for purpose sector.
- Build up a track record and work your way up.
- Ensure you are aligned with the appropriate professional bodies such as the Australian Institute of Company Directors.
- Develop a target list and proactively chase the boards that best suit your skill set and interests.
- Connect with people within your network that have a genuine interest in you, already sit on boards and have a similar set of skills to yours.
- You also need a bit of luck - being in the right place at the right time helps. Opportunities beget further opportunities.
- Be prepared for the possibility of rejection. Competition for NED roles is fierce and you may not be the perfect fit for a particular position. Have patience and be resilient.
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Derwent are delighted to have hosted over 100 attendees at our Pathway to the Boardroom event in Sydney this week, with guest speakers Inese Kingsmill and Robyn Stubbs . This ongoing series is designed to provide tips and perspectives to aspiring board members as they explore opportunities beyond their executive careers. Inese and Robyn shared their insights on how to plan for a board career; how to effectively develop and position your personal brand and expertise; and tips for identifying and assessing different board opportunities. Highlights of the discussion included: Gaining exposure to boards during an executive career provides professional development and foundational board experience to point to. Establish your Unique Selling Proposition (USP) – t here are unique skills, expertise and attributes that are personal to you, including adjacent experience applicable in other settings (such as regulated settings, customer, transformation, technology). You may be ‘pigeon holed’ throughout your executive career, so it’s important to further develop functional and industry experience in a variety of settings which can help to open up greater board opportunities. Finding board opportunities – there are a myriad of different channels including networking, board search recruiters, consulting engagements, industry associations, LinkedIn, personal connections. Develop a target list and do some initial research, but don’t boil the ocean. Due diligence is key to finding the right board, including research into growth opportunities, competitors, financial positioning, and skills gaps on interesting boards. Future fit boards and diversity including age, functional expertise and different styles around the boardroom table are increasingly valued. Keep an open mind to different opportunities in private, listed and NFP settings, focusing on where there is space for you to learn and contribute your skills. Not for Profits, Industry Associations and other Community Boards are helpful starting points, developing experience working directly with Board Members. This exposure can help to better understand board dynamics, governance responsibilities, the rhythm of board meetings, and how to effectively work ‘on the business’, not ‘in the business’. Continuous learning – with rapidly evolving macro environments, continuous learning, particularly in relation to emerging technology, will be crucial to staying ahead of the skills that boards will require in the future.
Derwent is pleased to announce that Graeme Young has joined the firm as a Partner in the Financial Services Practice. Graeme brings over 15 years’ experience in executive search and recruitment, with a focus on the Insurance market. He leverages his vast experience in global Insurance, with deep technical knowledge and networks to deliver impactful leadership and C-suite appointments. Graeme was most recently a Director at Eliot Partnership, a leading global firm in Insurance Executive Search, where he led the Australian business. Prior to his Executive Search career, Graeme spent over 20 years working across global Insurance and Reinsurance markets, commencing in London and moving to Sydney in 1998. Derwent is proud to be one of Australia’s largest Executive and Board Search firms. Our leading team of 90+ drives our growth, success and scale in delivering to the clients who entrust us to advise on critical hiring needs.
In the 1940’s, women dominated the early days of computing when ENIAC was built. ENIAC (Electronic Numerical Integrator and Computer) was the first programmable, electronic, general-purpose computer. Then the personal computer was released in 1984, and it led to the rise of white male computing, so the number of women in technology rapidly declined. According to the Tech Council of Australia, women are twice as likely to enter the tech industry at the age of 25-30, as they are before age 25. This means tech is not the first step for many women – they are coming through alternate pathways. Last week, Derwent hosted a ´Women in Tech” breakfast to create a safe space for female leaders to share their challenges and discuss solutions that both executive search firms, like Derwent, and the community can implement to continue to promote and deliver diversity in executive hiring. Our conversation was led by guest speakers Kavita Mistry and Marigold Duncan , who shared their unique and diverse careers in tech. For Marigold, it was the allure of rapid growth, impactful work, and a collaborative culture, a stark contrast to her previous life in banking. Kavita, with a blend of artistic and mathematical influences, found her passion ignited by the logic and creativity inherent in technology. Their journeys, though diverse, highlight a common thread – tech offers a space for innovation and impact. However, the path to leadership isn't without its challenges. Both Marigold and Kavita spoke candidly about the hurdles women face, particularly in finding their voice and navigating leadership dynamics. Kavita emphasised the importance of speaking up, identifying and encouraging quieter voices, and leveraging female role models. Marigold shared her experiences leading international teams, learning to communicate assertively, and overcoming the unconscious biases that often shape decision-making. Mentorship and sponsorship emerged as crucial elements of their journeys. Both leaders emphasised the need for clarity in mentorship goals, the value of diverse perspectives, and the importance of nurturing long-term relationships. Kavita highlighted the distinction between mentorship (guidance) and sponsorship (advocacy), while Marigold stressed the value of seeking out mentors who understand your ambitions. So, how can women support other women in tech? Both leaders advocated for challenging unconscious biases in hiring, building strong networks, and providing coaching, particularly for interview preparation. They emphasised the importance of "watering and feeding" relationships, ensuring they are mutually beneficial and sustainable. Balancing work and family was another key topic. Marigold, a mother of three, acknowledged the constant effort required, emphasising the importance of self-awareness and adapting to changing needs. Kavita echoed this, highlighting the importance of prioritising energy, self-care, and aligning work commitments with life stages. Ultimately, the discussion offered valuable insights for women navigating the tech industry. It's a journey of continuous learning, resilience, and building strong networks. By embracing their unique perspectives, challenging biases, and supporting each other, women can not only thrive in tech but also shape its future. At Derwent, we are committed to long-term diversity through both assisting clients with inclusive hiring processes and attraction strategies, and fostering the next generation of female leaders.
