Graduate Looks for Job as Director
Q: I recently completed the corporate governance program at the University of Toronto's Rotman School of Management. What advice would you give an aspiring professional, independent director other than registering with executive search firms and contacting some larger firms? J.H., Toronto
A: You have taken an excellent program and you obviously have a long-term plan. Knowledge of corporate governance is critical for organizations in today's highly competitive, yet complex, business environment. The average age of directors is more than 60 and more than half of those are expected to retire in the next 10 years.
The role of directors is changing, moving away from a club-like atmosphere, to the role of policing. This is creating new challenges in recruiting and retaining senior talent, especially with the new level of liability attached to these roles.
The first step to becoming a director is to become successful within your own organization, and in your area of expertise. Your credentials, such as CMA, CA, or LLB, combined with this new certification, will help you establish credibility. And your new area of specialization offers value to your company, which is key.
The next issue is the number of relationships you have outside your current organization. As a director, you would be given an insider's perspective that even the most senior employees are not given, and this is not shared lightly. It is key that you have a specific area of expertise to offer and that the people on the board have a strong level of trust in your abilities and background.
You could also get involved with not-for-profit organizations. This will build your board experience and give you a chance to learn the ropes. Another big benefit would be the opportunity to network. Many people sit on more than one board, developing their reputation. A large percentage of board positions are still filled by networks, so this is an important step.
You could also become involved in association boards within your sector or within your faith or cultural community, building experience and relationships. You also need to consider creating a resume that speaks to these issues. This will help you with introductions and sharing your background with other directors.
At the same time, you could talk to search firms. An increasing number of companies are using search firms to recruit board members as this increases the company's options.
Becoming a director has a wide range of career and personal benefits. Having great credentials is a start. You also need experience and relationships, and there are no shortcuts to developing these.
A: You have taken an excellent program and you obviously have a long-term plan. Knowledge of corporate governance is critical for organizations in today's highly competitive, yet complex, business environment. The average age of directors is more than 60 and more than half of those are expected to retire in the next 10 years.
The role of directors is changing, moving away from a club-like atmosphere, to the role of policing. This is creating new challenges in recruiting and retaining senior talent, especially with the new level of liability attached to these roles.
The first step to becoming a director is to become successful within your own organization, and in your area of expertise. Your credentials, such as CMA, CA, or LLB, combined with this new certification, will help you establish credibility. And your new area of specialization offers value to your company, which is key.
The next issue is the number of relationships you have outside your current organization. As a director, you would be given an insider's perspective that even the most senior employees are not given, and this is not shared lightly. It is key that you have a specific area of expertise to offer and that the people on the board have a strong level of trust in your abilities and background.
You could also get involved with not-for-profit organizations. This will build your board experience and give you a chance to learn the ropes. Another big benefit would be the opportunity to network. Many people sit on more than one board, developing their reputation. A large percentage of board positions are still filled by networks, so this is an important step.
You could also become involved in association boards within your sector or within your faith or cultural community, building experience and relationships. You also need to consider creating a resume that speaks to these issues. This will help you with introductions and sharing your background with other directors.
At the same time, you could talk to search firms. An increasing number of companies are using search firms to recruit board members as this increases the company's options.
Becoming a director has a wide range of career and personal benefits. Having great credentials is a start. You also need experience and relationships, and there are no shortcuts to developing these.
posted by Alan Kearns at 12:39 PM
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