I'm a woman. How do I get a place on a board?

A few years ago, if you asked me how to get a place on a board, I would have said, “That’s easy – be a man”.

And while the times they are a-changin’, the latest report from the Australian Institute of Company Directors shows women still fill just 25 per cent of board positions and this gender discrepancy seems to be closing at a glacial pace. A massive 13 companies out of the ASX 200 have boards entirely devoid of women.

So what’s holding women back from getting on boards?

We’ve heard all the excuses. Women are too emotional. They talk too much. Women don’t understand finance. They’re too busy looking after their babies.

I’ll say it again – what’s holding women back from getting on boards?

Listen: find out how Sallyanne Atkinson landed a spot on the board of countless businesses, from The Australian Ballet to the Museum of Queensland. 

According to Rhian Richardson, Board Diversity Manager for the Australian Institute of Company Directors, it’s not a supply problem. It’s a demand problem.

“I think there are plenty of qualified women out there ready to be directors… but there’s a tendency for companies to choose candidates they’re comfortable with,” she says.

For the ‘old boys’ club that is many boards, that means men.

Another big factor is the tendancy of some women to doubt themselves. Think your experience isn’t enough? Apply anyway. Don’t let your lack of confidence hold you back. On average, a woman will only apply for a job if she meets 100 per cent of the requirements. A man, on the other hand? He’ll apply after ticking off just 60 per cent. And often in these positions, the right person for the job is not the person with the most experience or the longest CV.

So what skills are they looking for in a board member? In a word: experience.

“It’s really important that women have enough years in an executive role,” Richardson says.

A board is the governing body of a company, with its members elected for decision making. As well as a keen business understanding, boards will also look for members with specialist skills. This includes finance and accounting, audit and risk, legal, marketing and senior leadership, just to name a few. Boards will often look to diversify their members, so if a board is filled with former CEOs don’t be disheartened. They might be greatly in need of a numbers whiz to navigate the company’s finances.

Often the biggest impediment to getting the gig is never having sat on a board before. Ahh, the old conundrum – how do you get that experience if no one will give it to you? Getting that first foot in the door is never easy. But once you’re in, you’ll find new opportunities present themselves.

First and foremost, you need to network. As with most business opportunities, many board positions are about who you know, not what you know. Let your professional contacts know you are interested in a board position and ask them to notify you (or better yet, recommend you!) if they hear of any openings. A personal recommendation can be the clincher that gets you the job. And don’t forget to look within your own company. Your board can be a valuable repository of wisdom to help you find a position. Many boards are happy to see their upper management staff take on positions at other companies if it means they are broadening their experience and providing value.

Make your life easier by letting the opportunities to come to you. Sign up to groups and lists that offer advice and openings so you are always in the loop. Join a networking group with like-minded women who can provide support, advice and feedback. Also look at what resources are on offer to you. For example, in Victoria the government runs a number of programs such as the Victorian Women’s Register, which provides information about openings in the public sector, and the Women’s Board Leadership Program, which gives scholarships to aspiring leaders. If you are early in your career it is worthwhile looking for a mentor, whether through an official mentoring program or just someone you respect. A mentor can provide valuable guidance about your career trajectory to prepare you for a board position later in life.

According to a business coach who works with high profile business people, it's much easier to land a board position than many people realise. His advice is to find some organisations you are passionate about and approach them. Particularly when it comes to smaller organisations, niche areas and charities, having a genuine interest in the company speaks volumes. Positions on such boards are less sought after, but provide invaluable experience which could lead to other opportunities. Always highlight your unique selling point. Maybe you're the expert in the area. Or have practical experience. Board positions aren't reserved for middle aged men who've worked their way up the corporate ladder.

Remember, it's never too early to start planning ahead. While the average age for most female directors is mid-'50s, you should start preparing well in advance. These roles are highly competitive, and the more experience you have the better.

"Start thinking about contributing as a director while you're an executive," Richardson says.

"You want to make sure you’ve achieved as much as you can in your executive role... Talk to your own network before you leave your executive role and tell them what your plans are. Work out your value proposition and where you think you can add value before you start having conversations. Meet other directors and talk to them about what they do. And always go in with open eyes and understanding what it is to be a director," she says.

As someone who sees a lot of women applying for board jobs, Richardson says it's important to remember being a director is a long game and it requires a lot of patience.

"Don’t go into it thinking you’re going to get a board job right away," she warns.

It can take 12 months of interviewing to land a coveted position on a public board. So think long and hard if this is a job for you.

Once you've found a position that fits your interests and skill set, it's time to throw your hat in the ring.

"I think the best thing to make yourself stand out is ensure you are cultivating your networks and have people who speak highly of you," Richardson says.

"Have a good values proposition, and be able to talk about yourself and how you can add value."

If you're applying to sit on the board of a publicly listed company, there are stringent steps to follow. Once you've been shortlisted, you will need to go through a number of background checks to ensure you are fit to serve on a board. This includes bankruptcy checks (if you are or have been bankrupt you will be disqualified) and police checks (a criminal offence will typically make you unsuitable). You will also need to provide referees who can attest to your suitability and a declaration of any potential conflicts of interest.

Richardson says that despite the challenges of finding a board position, it's worth it.

"You’ve got to be incredibly patient and resilient but it’s a really exciting space. We're seeing more women being appointed to boards, so definitely consider it if its something you’d like to do."

Are you an aspiring board member?