Be Prepared for Your Marketplace

Last week’s item on the ASX company for which WOB is doing a board search was the subject of a lot of attention. It certainly kept my inbox full!
For some WOBers it was a case of putting their hat into the ring for the role, despite the realisation they had little chance of success. This is not a bad thing. It was heartening to us that the ASX position inspired them to action.
The Getting Started: Realising your board potential workshop canvasses the more easily accessible marketplaces for board directorships. This marketplace is 500,000 plus spots for “a warm WOB bottom”.

The WOB defined marketplaces include the ASX500 and 60,000 other boards across a variety of sectors. About one third of these other boards pay their directors and the trend towards payment is increasing. So it’s not all about the ASX. Consider the fact that the ASX500 covers a maximum of 4,000 directorships. On a numbers’ basis you need to look elsewhere!
This week there are a number of large faith based organisations posting with us. One of the upsides from the Royal Commission into Institutional Responses to Child Sexual Abuse is that the Royal Commission exposed the poor governance practices of many of our large institutions. Some are taking action. This includes the Newcastle Anglican Church Corporation and the Catholic Diocese of Broken Bay.
But the other lesson from the ASX exercise is that you won’t be successful if you start to think about your application when you see a position that is closing shortly. Start work early, have your board CV ready (consider WOB CV masterclass to get this difficult job ticked off the list) and be prepared.  
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