Congratulations on being shortlisted and attending your non-executive directors (NED) Interview. This is a considerable achievement, and it tells you that the NED role you applied for was likely a good fit with what you have to offer a board, and your application documents clearly articulate this.
If you were offered the NED role, congratulations again; you must be doing a lot right. If you were not successful, it is likely that you are also doing many things right. It is possible that even with the best board interview preparation in the world, you were not appointed because there was at least one better candidate in the mix.
Regardless of the outcome, you need to know what to do next. Either outcome can be leveraged to generate new opportunities. It would help if you also considered your long-term NED career goals.
Don’t make an unsuccessful NED Interview a waste of your time!
If you don’t get appointed after attending a NED interview, it is tempting to think your hard work was for nothing. Rest assured, it doesn’t have to be pointless. There are ways to turn this negative situation into a positive one, even if you’re feeling disappointed. Requesting feedback should be your first step. Be conscious that many people are not at ease giving honest feedback. So, you should essentially permit them to do so and encourage them to give it to you straight. Otherwise, what is the point? It’s important to identify your mistakes to make improvements for subsequent NED interviews.
Next, remind yourself why you applied for the role in the first place. You were passionate about the cause and organisation and knew how you could help by sitting on the board. So, the time and effort you put into getting to know the organisation extensively should have been a positive task. The research you did, the connections you made (weak ties), and the knowledge you gained can be leveraged to create new NED and professional opportunities. You never know when opportunities will present themselves to you; that is the reality of a proactive board search and the excitement of this journey.
Whilst accepting rejection is challenging, the research you conducted in preparation for your board application and interview should have resulted in you making relationships with NEDs (past and present), stakeholders, clients and possibly even contacts from competitor organisations. These weak ties sit on boards of similar organisations, and it is estimated that up to 50% of all NED appointments are made through these sorts of relationships. It is not unusual for new board opportunities to arise during the board interview research process.
‘Congratulations’ – but should you accept the NED Role?
If offered the NED role, your first response should not be an immediate ‘yes’. Instead, you should conduct some more pointed research and consider your due diligence. You should start by researching the organisation in greater detail.
If you haven’t already, you must read and analyse the financials. Depending on the potential level of risk, you should also speak with the auditors, the CEO, and the accountant, ideally separately. If your financial analytical skills are not strong, I recommend you seek an experienced business finance & accounting professional to assist with your analysis.
Following your financial analysis, you should complete the following. You may also have new questions to resolve based on what you discovered in the financials.
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- Read as many of the board minutes as possible to comprehend both current and historic issues.
- Speak again with some of the stakeholders to see if they or you have any concerns.
- You should also speak with the executive team members to determine their relationship with the board.
- Most importantly, you must spend time with the Chair one-on-one. The aim is to gauge their fit and appropriateness (in your eyes) for leading the board. To succeed in this NED role, it is critical that you respect and work well with the chair.
- Finally, read the formal terms and conditions and consider the informal requirements of the role.
- You need to be well aware of what is expected of both you and the board.
- You need to ensure that you can commit to the required time and take on extra responsibilities such as fundraising, serving on committees, and representing the organisation at events.
- Now is the time to negotiate remuneration. However, unlike an executive appointment, it isn’t always flexible. I rarely recommend discussing it before any offer is made, but now you are in a much stronger position to have this conversation, usually with the chair.
When making your final decision, remember that the right NED appointments provide the opportunity to leverage future board roles. If you accept the offer, tell people—update your professional profile listings, advise alumni networks, and update LinkedIn and your CV. A tip I share with my clients is to always reconnect with those who helped you along the way and tell them about your new role. Not only does this allow you to be back on their radar, but it also establishes your commitment to a board career.
Leverage the situation either way
Two UK studies found that 50% and 82% of boards recruited new board members in the last 12 months. So, it is essential that regardless of the outcome of your NED interview, there are many ways you can leverage the situation to advance your board career.
Build and maintain a networking relationship with those you met or had conversations with during the NED application and interview process, including a recruiter, if they were involved. Things constantly change regarding how you can help them and how they might be able to help you. If they are located nearby, offer to buy them a coffee. Leveraging these relationships will keep you in the loop about future NED opportunities.
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About the Author
David Schwarz is CEO & Founder of Board Appointments – The UK’s leading board advertising and non-executive career support firm. He has over a decade of experience of putting people on boards as an international headhunter and a non-executive recruiter and has interviewed over one thousand non-executives and placed hundreds into some of the most significant public, private and NFP roles in the world.