Should Executives Take on a Board Role? Here’s What You Need to Know
Insights from Richard Triggs
Have you ever been approached to join a board and thought, “This sounds interesting… but what’s really involved?” Taking on a board role can be a fantastic way to broaden your professional impact, build your governance expertise, and even prepare for life after an executive career. But let’s be clear—this isn’t just a cushy gig where you show up to a meeting every month and nod sagely.
From my experience working with senior executives and board directors, I’ve seen first hand how rewarding—but also demanding—these roles can be. So, if you’re considering stepping into the world of governance, here’s what you need to know about the risks, responsibilities, and rewards.
1. The Value of a Board Role
Joining a board can be an excellent career move. It positions you as a thought leader, expands your network, and gives you insight into corporate governance, risk management, and strategic decision-making at the highest level. Plus, if you’re looking to transition out of your executive career in the coming years, it’s a great way to stay engaged in the business world without the 60-hour work weeks.
That said, not all board roles are created equal. A well-structured ASX-listed company board is a different beast from an under-funded not-for-profit or a family business where “governance” is more of a suggestion than a practice. Be selective!
2. Understanding the Risks and Liabilities
Here’s where many executives get caught out. As a board director, you’re legally accountable for the organisation’s compliance, financials, and overall governance. If something goes wrong—fraud, insolvency, regulatory breaches—you can’t just say, “Well, I wasn’t across the detail.” ASIC and the courts won’t be sympathetic.
One of the key takeaways from Winning the War for Talent is the importance of due diligence when making leadership decisions. The same applies here—before joining a board, do your homework. Ask about:
✅ The financial health of the organisation
✅ Any pending legal or compliance issues
✅ The dynamics between existing board members and executives
If you hear vague answers or notice red flags, run, don’t walk.
3. Time Commitment—It’s More Than Just Meetings
A common misconception is that board roles only require a few meetings (up to monthly) a year. In reality, you’ll be reviewing financial statements, advising the executive team, and dealing with unexpected crises (think COVID-19 response, cybersecurity breaches, or shareholder activism).
On average, a board director for a listed company can expect to commit 200-300 hours per year. If you chair a committee (e.g., audit or remuneration), expect more. Are you willing to add that to your already full plate?
4. Should You Do the Graduate AICD Course?
Short answer: Absolutely.
The Australian Institute of Company Directors (AICD) graduate course is the gold standard for board governance training. If you’re serious about board work, this course will equip you with essential knowledge on governance, financial oversight, and director responsibilities. It’s not enough to just attend the course, you MUST complete and pass the assessment items which requires hard work and a significant investment of time.
And let’s be honest—having GAICD accreditation on your LinkedIn profile signals to others that you’re a professional board director, not just someone looking for a post-executive hobby.
5. How to Position Yourself for a Board Role
If you’re interested in joining a board, here’s how to make yourself an attractive candidate:
✔ Highlight governance experience – Have you served on committees? Worked closely with a board? Make sure it’s visible in your LinkedIn profile and CV.
✔ Build relationships – I believe at least 90 percent of board roles are filled through networks, not job ads. Identify the boards you wish to join, reach out to and meet the Chair, and then maintain regular proactive contact.
✔ Get clear on your value-add – What unique expertise do you bring? Strategy? Finance? Risk? Boards don’t just need generalists; they need specialists who can strengthen decision-making.
Final Thought: Is It Right for You?
Board roles can be incredibly fulfilling, but they aren’t for everyone. If you’re excited by strategy, governance, and high-level decision-making—and you’re prepared for the responsibilities—then this could be a fantastic career move.
However, if you’re looking for an easy side gig with minimal commitment, think again. The best board members are those who genuinely want to contribute, not just add another title to their LinkedIn profile.
