Susan Hammond Discusses How Sitting on Nonprofit Boards Will Help Your Career

Many executive women at higher levels find themselves, at some point in their careers, being offered a position on the board of a company.  It could be a large corporate entity or a nonprofit organization, but regardless, the person being offered the slot usually  has some expertise regarding the company’s overall goals. Have you considered the benefits to your career from holding a board position? Have you ever been offered a seat on the board?  If so, read on for insider details on the often overlooked benefits to having a position like this.

According to the nonprofit research organization, Catalyst.org, women account for only 16.9% of corporate board seats in the United States. Most women would agree that women should hold a more equitable share of these board seats. Forward-thinking organizations like 2020 Women on Boards seek to correct the imbalance through education and promotion of the issue. But the question is, what are women in business doing to make themselves ready and able to serve on corporate boards? Sometimes, precious little.

Being On Board: The Overview
If you’re sitting back, waiting on the world to change (cue John Mayer song), then you might have a long wait. Expecting a corporation to seek you out for its board with no previous board experience is about as logical and likely as them naming you CEO fresh out of college. Susan Hammond, retired CFO and nonprofit board member, believes  there are significant benefits to starting the process by sitting on nonprofit boards. They’re the perfect baby steps before running in the big leagues.

Hammond currently chairs one board, and also sits on another, for The Marble Collection, a Massachusetts high school magazine for the arts.  In her 20-year career, she has served on many nonprofit boards, both small and large.

“I’ve been involved with boards for the past 20 years, either as a CFO presenting in front of them, which taught me a lot about governing, or sitting on them.” In her multiple roles as a CFO, nonprofit volunteer, and board member, Hammond feels one thing particularly stands out: she should have started sooner. Many women seem to finally gain confidence in their 30s and 40s, then seek out board positions.  Instead, the reality is that they could have been gaining additional experience and networking towards that goal, from their 20s onwards.

Board service also gives you resources to call upon during those crucial years: put simply, it increases your network, which increases your professional net worth. You now have a common ground for conversation if you need to call on a fellow board member, so you grow your networking base as you increase your skills.

How to Get Started
To get started on this venture, you can begin at BoardnetUSA. Also, many women’s organizations keep lists of open board positions and put them on social networks like LinkedIn or Facebook.

In her experience helping boards find new members, Hammond has scoured the internet to get a better feel about the candidates, often landing at social media sites. Use your LinkedIn profile to express who you really are and what you’re passionate about in the business realm. Your profile then becomes a way in which boards can find new members by viewing your professional skills and interests.

• • Another practical thing to consider: according to Hammond, volunteering on a board can “get old really fast, if you can’t see how you’re benefitting. If you aren’t going to be getting something personal out of it, you shouldn’t be doing it. I learned strategic planning from sitting on boards…you learn just by participating in the process.”  Hammond said that some people might look at her strangely when she says that, but that it doesn’t take away from the passion of helping the organization.

• • When it’s time for the interview, and you’re looking for your “right-fit” board, don’t just let them interview you. If an organization is interested in having you on their board, have these questions ready to politely fire away:

• • • Do you have a strategic plan?
    • Do you have a marketing plan?
    • Do you have a development plan?
    • How do you do executive reviews?
    • Tell me about your executive compensation plan.
    • How much experience do the other board members have?

• • Strategize your board progression, the same as you planned your college track or career moves. Say to yourself, for instance, “I’ll join a “starter” board such as The Marble Collection to gain experience, then I’ll move to a larger board, like the Girl Scouts, and after that, I’ll try to get a position on a national organization or large government advisory board.”

Know Your Nonprofit Boards: The Pros and Cons
Nonprofit boards are a great place to learn about how boards work; however, it’s important to know the differences.  In a large nonprofit organization, the board might participate little in the day-to-day operations of the organization. They tend to have a full staff, and the board only participates in specific events or fundraising, for example.

In smaller nonprofits, the board manages all the day-to-day functions. In addition, a smaller board might be comprised of a director and board members with little to no experience. Therefore, a board member might not learn as much from other members, but could garner much more knowledge about the organization’s daily activities than on a larger board.

So, how does it come down to volunteering with a small or large nonprofit? If you are short on time, you might be better served getting your feet wet with a larger organization, on a committee for a specific event. Those events have a beginning and  end and thus, a finite time commitment. Additionally, if you are seeking board membership to gain experience, how much will you learn from other members who are as green as you, which may be the case at a smaller nonprofit?

Another factor for both large and small nonprofits: your level of experience.  Experience might not be an issue in a for-profit company, but can definitely be an issue in a nonprofit. There, board members often have a distinct fiduciary responsibility, and inexperience might create liabilities.

Lastly, both large and small nonprofits can be a stepping-stone to public companies: in many ways, the boards of public companies are still an “old boys’ network.” Far more people want to be on public company boards than there are seats vacated.

For this type of venue, the smartest strategy is to work your way up through networking. “Join a small nonprofit board, then, move to a larger nonprofit board, where there are men who also sit on public company boards,” Hammond said.

Use Your Expertise
Lastly, sometimes it’s beneficial to serve on a board to help them solve a particular issue. For example, no matter whether she is in the role of CFO or a board member, Hammond is always able to offer her primary area of expertise: risk management.  Board members like Hammond offer insight and hands-on knowledge; in a good match, the board member shares their prowess while also garnering skills to take back to their day job. Once you have completed that task for them, it is time to move on to another organization that will benefit from your skill-set.

The bottom line is, don’t think you have to wait until you have more work experience before seeking a board seat. You do need to run before you walk, but with the right attitude and a plan, you just might be one of the women who help 2020 Women on Boards to meet, or surpass, their goal.