Getting interviewed as a prospective board member is a particular and straight-to-the-point process. For this post, there is a huge difference between being qualified versus suitable for the job. The sooner you understand that your interview process determines your suitability as a Board Member, the better chance you get selected. So, we will discuss the Board Member Interview Questions in this article over here.
Board Member Interview Questions
While there are no correct answers to the questions asked, there are a few sets of common questions during the interview, and the best way to answer these is to be prepared for them beforehand. Apart from preparation, you need to check your attitude, tone, and how you carry yourself. Throughout the process, try and maintain a healthy balance between the reality of your answers versus the completeness. To understand better, let us dive deeper into a few commonly asked questions in these interviews and discuss the best way to answer them.
What could you bring to our board?
As per my research, I understand that you are mainly looking to increase the board’s assets in marketing and promotion. I have led several B2B and B2C sales teams with a wide variety of online and offline campaigns. In marketing, I have built metrics that apply more science to our spending. With my skills and expertise in this field, I can be an asset to the board. Before moving on, I would like to know what your immediate needs are. Which functions are you looking for at the moment?
What type of work environment do you prefer to work in?
Even though I am quite flexible with different work environments, my priority lies in working in one where there is a constant exchange of ideas. Even if we don’t agree with one another, everyone gets a chance to be heard. I prefer a balance between professionalism and personality since both qualities are important to reaching mutual agreements.
What do you think your learning curve would be like if you joined our board?
Learning for someone like me who is inquisitive and always curious is an ongoing process. From my side, I would be starting with investor relations, meeting company leaders, studying past board books, and looking for one-on-one time with other board members. Which other areas would you like me to focus on in the first few months?
Which of our committees would be most interested in being a part of, and serving in?
I will be more than happy to serve in any committee where I can be of use. For example, for Audit, my interest lies in enterprise risk management, and for Comp, I can contribute to your new incentive plan. Apart from my interests, I would like to know which committee you need the most help with or think I will be a good fit.
What is the extent of your exposure in your current role to your own company’s board?
The annual strategy meeting is by far my favorite. I get to work closely with the CEO and other directors to prepare, ultimately doing a solo presentation at the meeting. I am also a part of a nonprofit board where I am one of the executive council members and have contributed to the well-being of employees and other stakeholders.
Why do you want to be on a public company board?
In my current post, I have learned so much that it would not be fair to utilize this knowledge anywhere else but on a public company board. I think I have the energy, passion, and excitement for this kind of board, and at the same time, this post may also make me better in my day job, helping my own board.
Why are you already not serving on a public company board?
I have been too indulged and busy with projects like digital transformation, M&A, turnaround, marketing/sales, and much more in my day job. Now, I finally feel that I have the bandwidth to make this commitment and actually follow through. However, I also know that I can only afford to do one of these during my hectic hours, and nothing has been a perfect fit yet.
How do you deal with criticism?
My priority will be to listen to what the other person is saying, and a reaction will be secondary. After assessing if their criticism is justified and practical, I will attempt to voice my side of the story. Eventually, I will direct my attention towards finding a solution and implementing the steps to do so.
How do you manage your workload effectively?
Time Management is a big deal for me. I like to list my tasks in order of urgency and predict the maximum amount of time it may take me to complete each task. Then, once I get to work, I set alarms since they help me keep track of the deadlines and how I may need to change or reevaluate my pace. Even though I keep refining the method, this one has worked best for me so far.
From what we hear, you are planning to retire at the end of this year. What are your plans next?
I have learned ample in the 13+ years that I have worked as an executive, and it will be a shame to stop just because it is time for me to retire. Roughly, I plan to extend my leadership and communication skills at a non-profit and partner with some business owners for investment. Even though I do not have a full-proof plan in mind, I know that I will be very active and at the top of my career even once I retire.
What are the main roles of the Board of Directors?
The board of directors’ main responsibility is to assess, evaluate, and monitor the overall workings and strategies of the company. Essentially, they hire the CEO and General Managers of the company, who then hire other employees for every department. Therefore, management and oversight are essential for these directors. To sum up; Duty of Care, Duty of Loyalty, and Duty of Obedience can be said to be the main roles.
How much money does a Board Member make?
Especially now that the times have changed and the roles and responsibilities of board members have been redefined, the money they make has significantly increased. Even though the post may have its downsides, there are quite a few benefits that board members enjoy. The compensation of members is usually in the form of cash and stock awards. The average salary for a board of directors is $58,594 per year in the United States and $50,000 profit sharing per year. A final tip as a prospective Board Member is to be professional, in control, and rational. This set of questions and its sample answers will guide you to be prepared with relevant information and an outline of the answers you would like to give during your interview process. Moreover, a glance at these questions will further help you understand how the interviewers evaluate and judge your performance.
Frequently Asked Questions
- What is the best way to introduce myself during the interview?
“Tell me about yourself” is a question that you are most likely to be asked the moment the interview process begins. While there are no specific steps to follow for a perfect introduction, you can be confident and plan your answer. Be fluent, and try to mention points not included in the portfolio you may have sent over earlier. If possible, try and include a line or two about the company itself and why you are here today.
- Are there specific steps to acing a board interview?
Acing a board interview is entirely dependent on you. Even though there is no set process to ace a board interview, there are a few steps that you can follow beforehand and during the interview to make the best of the process.
- Preparation: Be so comfortable with your speech or pitch that you need notes to speak confidently. Familiarize yourself with not just the company but also the whole interview process.
- Bonding with the board members: Try to find a mutual experience or connection to help the board members create an emotional bond with you. You are more likely to be selected if they understand that you share the same goals and values.
- Thinking like a Board Director: Switching from your current job/work to a director is a huge transition. Understand how the system works and be prepared to think strategically and in governance mode.
- Asking smart questions: Don’t be generic and ask questions that show your research and knowledge. It is okay to go with your notes and research to show that you are well prepared in advance.
- How important is it for us to ask questions and give our opinions?
You will likely be asked if you have any questions for the directors or the company at some point in the interview. Just in case, it makes it very essential for you to be prepared with a set of questions that you may be unclear about or need answers to. Here are a few questions that may help:
- What is the board’s vision for the future?
- What is the company’s financial position?
- What does the board expect of you?
- What are the board’s morals and beliefs?
- Which key areas about the company should we research and be prepared with before the interview?
The first step is to thoroughly go through their official website, social media, and any mention of them in the press. From their history to major achievements, you need to know everything about the company—research in detail about their competitors and how they stand out in the market. A tip is to either buy or try their product for original and unique answers about the company. If possible, have some inputs about how they can improve their existing market condition or make more sales.
Also read Director Roles – Is A Director An Executive?
