A formal interview is usually conducted when a board seeks new members. Candidates for board positions must be prepared to answer questions ranging from how their abilities, attributes and experience will help the company to why it is crucial for them to be a part of the Board. They should also know how they will be able to dedicate to the job.
Boards typically look for strategic insight, not executive thinking, says Garland McLellan, founder of Board Ready, a board consulting firm. The interviewer is looking for someone who can engage in a high-level discussion, ask intelligent www.boardthrough.com/five-steps-to-improve-board-performance/ questions, and challenge the company’s thought processes.
A good board candidate is willing to share their own opinion on the challenges and strategies of the potential employer, but also open to hearing the perspectives of interviewers. They must be able provide an honest and balanced opinion, even if the company’s performance isn’t up to par.
The interviewer can also ask candidates to assess the co-legiality and culture of the boardroom. This is especially important in a public company where the board’s relationship with shareholders may be at stake. In addition the board might ask candidates to consider whether they have conflicts of interest that could affect their ability to increase the value of. A conflict of interest that is exposed could harm a board strategy and have serious legal implications in the worst case scenario. If candidates are required to consider this issue they must be prepared to provide any relevant relationships and affiliations.
