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So you want to be a board director: A leader’s guide

Welcome aboard ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
Leading Off

Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities

Serving on a board of directors is an unequivocal opportunity for leaders to develop new skills, hone their business acumen, and expand their personal and professional networks. And boards themselves benefit from the fresh perspectives that new directors bring to the boardroom. But for those who haven’t taken the plunge, the “how” of joining a corporate board is less than clear. Board membership is also a significant investment of time, especially as the board’s role—and the range of issues that come across a board member’s proverbial desk—continues to expand and evolve. We’ll take a look at specific ways to get started on your board journey and what success looks like once you’re there.
An image linking to the web page “Starting your board journey: Six steps to guide director hopefuls” on McKinsey.com.

While the path to board membership may seem winding or murky, McKinsey senior partner Celia Huber and colleagues outline six steps that board-curious leaders can take. Wherever leaders are on the journey, they shouldn’t underestimate the value of asking questions: an “ask, don’t tell” policy is an important way for directors to contribute and clarify their role. “First-time directors often find it difficult to step away from an operator mentality,” the authors say. A director’s job “isn’t to offer solutions but to probe and constructively challenge management’s proposals to make executives reflect on their decisions. Your objective should be to help the management team see ten steps ahead.” With so many competing priorities to weigh, the ability to ask thoughtful questions about everything from generative AI (gen AI) to the company’s purpose is paramount.

60

That’s the percentage of directors who, in a global survey, believe their organizations are unprepared to manage the next large-scale crisis. In a conversation about preparing for extraordinary risks, McKinsey’s Celia Huber and colleagues note the importance of identifying “predictable surprises”: events that would, with great certainty, change a company’s entire business. Boards, and new directors in particular, have a critical part to play in this process. “If the board engages in approving strategy, it’s helpful to ask, ‘What would cause this strategy to fail?’” says senior partner emeritus Nora Aufreiter. “New members are sometimes best at identifying long-term core risks because they can step back and ask simple questions that longtime directors may not think of or assume the organization knows the answer to.”
An image linking to the web page “NBIM's Nicolai Tangen on organizational resilience” on McKinsey.com.
An image linking to the web page “The CEO guide to boards” on McKinsey.com.

Popular wisdom suggests that there’s no such thing as a stupid question. Indeed, the willingness to ask questions—even ones that seem obvious or tough—is an important way for prospective and new directors to showcase their intellectual curiosity and ways of thinking, including when interviewing for the role. That can be easier said than done for new members who are just getting their bearings. If you’re reluctant to speak up at the start of your tenure, take a page from Albert Einstein’s book. One way to contribute to board discussions from the start is “question storming”: that is, starting a problem-solving session by asking as many questions (more than 50!) as you can about the problem at hand. Once you and your board colleagues have some answers, a solution will be much easier to reach.

Lead by asking questions.

– Edited by Daniella Seiler, executive editor, Washington, DC

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by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 04:35 - 5 Feb 2024