In the past couple of weeks two accomplished women in my network have landed their first paid board appointment. Just prior to Christmas they informed me of their decision to go for it after talking about it for years.
Both women were senior executives in their industry: one in finance and the other in media. Neither had been a CEO but believed they had something positive to contribute to strengthen the governance of organisations at board level.
One of those women is a chartered accountant with an MBA and is studying for a second Masters degree in an effort to stand out from every other female chartered accountant with an MBA who aspires to a board career. The other is a media executive responsible for the creation and execution of many highly profitable media assets, who is undertaking the Australian Institute of Company Directors course in an effort to formalize her knowledge of governance.
Over the years we have discussed our shared interest in a board portfolio career ‘down-the-line’. There are many women, myself included, who remain heavily in the executive camp while taking on one or two board appointments. But as these two women have found it was only when they made a decision to move on from an executive career that they were able to truly focus on building a board career. And the flood gates appear to have opened. The thing is, who knew there was a flood?
The challenge for at least one of these women is bridging the gap between an executive salary and directors fees while she builds her portfolio. This is undoubtedly a key motivator to adding to her portfolio quickly.
I am amazed, but encouraged, by how quickly these two women were able to find the initial paid board opportunity. Its relatively easy to find an unpaid role if you are a woman because most of the men are busy with the paid positions. For both of the women mentioned, I am delighted to report, it was an experienced female director who acted as sponsor to their appointment to paid directorships.
In the past two weeks I was also informed of a potential paid board opportunity and the person who recommended me to the board recruiter was one of the country’s leading female non-executive directors. The step-ladder is coming down.
One of the two women whose board career is now off to a great start has been further informed of three more opportunities in the past few days. As she said: ‘if it doesn’t rain it pours’.
Are we reaching the tipping point with female board appointments? The recruiter that I spoke to was on the search for more capable women who are not the same ones that currently sit on a number of boards. Apparently that’s the brief he receives from male chairs. More and more of them are specifically requesting capable women with capabilities to round out the Board skill set.
This is starting to feel like a very exciting time for female leadership. It now appears that momentum is building and boards are getting on board.