Exploring the Advantages of Pursuing Corporate Board Positions in Your Career Path

In a recent discussion, a former Senior Executive Service (SES) member shared their views on why senior level public servants are well-suited for corporate board service. With 12 years in the SES and prior experience as a GS-15, this individual brings a wealth of expertise to the table.

Having left federal service in 2012, this individual has since served on three corporate boards, with two positions still ongoing. They believe that senior feds do not fully appreciate that they already possess many of the skills required for corporate board service.

One of the key advantages of corporate board service is the opportunity for income beyond retirement. Additionally, it provides a platform for individuals to contribute to strategic decision-making and oversight of corporations, including the selection and development of the C-suite, and the approval of strategic direction for the organization.

Board directors are driven to meet their corporation's objectives and bear a responsibility to their stakeholders, namely, their investors. Independent corporate board positions have no management/operational responsibilities and no conflicts with respect to family affiliations or financial ties outside of their director role.

The individual emphasized the importance of recognising strengths as well as weaknesses of C-suite members, and working to improve any deficiencies, for both corporate board success and the success of the organization. Skills developed in the public sector on how to manage complex personnel or training situations for senior professionals are highly relevant in the corporate board experience.

The Private Directors Association offers training, education, and a matching program with private companies looking for board members. The National Association of Corporate Directors also provides similar services for both public- and private company boards. For those seeking further education and information after their federal service, the author recommended several organizations, including the Corporate Governance Institute (CGI) of the Frankfurt School of Finance & Management, the Financial Expert Association (FEA), the German Corporate Governance Institute (Mercer | hkp///group), the German Share Institute (Deutsches Aktieninstitut, DAI), and the German Investor Relations Association (Deutscher Investor Relations Verband, DIRK).

The individual's former federal colleagues have frequently asked about how they found corporate board positions. The individual has experience in helping encourage senior level public servants to consider corporate board service. Interestingly, their former colleagues are more interested in the "Why" of finding corporate board positions, rather than just the "How".

Board positions at relevant corporations also offer the opportunity to connect with like-minded colleagues who look at issues through a business lens, providing a unique perspective on the challenges and opportunities in one's field. Leaders of federal agencies know where potential collaborations may be built, and the most successful corporate board members know how to leverage these connections to the benefit of the corporation.

In conclusion, corporate board service offers a valuable opportunity for individuals with a strong background in public service to continue contributing to strategic decision-making and oversight, while also providing income beyond retirement. With the right training, education, and connections, senior level public servants can leverage their unique skills and experiences to excel in corporate board roles.