Contrary to popular thought, leadership development doesn’t stop when someone reaches the C-suite. It becomes even more critical. However, when someone earns the title of CEO, CFO, or another senior executive role, the traditional tools—like workshops, assessments, or retreats—no longer fit the challenge. For these leaders, growth requires a different path. One of the most powerful? Board service.
In the PwC Annual Corporate Directors Survey, most directors (58%) agree that a CEO should serve on an additional board seat beyond their board of directors.
Benefits for the Individual
Serving on a corporate board provides a rare and invaluable opportunity: to lead by learning. Outside of their day-to-day operations, executives could encounter new industries, fresh strategic challenges, and the diverse leadership styles of other high-performing peers.
What’s more, by serving on a board outside of their own, these senior leaders can sharpen their judgment, deepen their perspective, and improve their effectiveness as enterprise leaders.
Organizational Gains
It’s true, leaders who take on board roles elevate their visibility and credibility in the marketplace. But that positive attention reflects on their organizations as well, reinforcing brand reputation and even attracting top-tier talent.
Further, organizations with executive team members serving on other corporate boards is a powerful retention lever. Providing meaningful development opportunities at the executive level, especially ones that stretch and engage leaders in new ways, is critical to keeping talent.
Getting Started
Helping your leader find and secure the right board seat, however, isn’t something that happens by accident. It requires careful planning and a guide who knows the territory.
For organizations looking to support this kind of growth, structured guidance can make all the difference. Services like Board Readiness provide the strategy and support needed to help senior leaders:
- Clarify their board value proposition,
- Build the right materials, and
- Connect with the right networks.
It’s a tailored, high-touch approach that reflects the sophistication of today’s board landscape and the ambition of tomorrow’s leaders.
By integrating board preparation into your organization’s executive development strategy, you’re not just investing in your leaders—you’re expanding their influence, strengthening your brand, and positioning your organization as a source of top boardroom talent.
Don’t Wait Until Retirement
While many executives consider board service as part of their legacy plan, post retirement, it should be considered as a leadership development opportunity while working full-time.
Take for example, Kent Larson, the former Group Vice President of Xcel Energy. Today, fully retired after a 38-year career in the utility sector, Kent now serves on three boards. Each relate to his passion and experience in energy, operations, safety, and large-scale transformation.
While Kent did not serve on a board until after his retirement, he acknowledges its benefits would have been helpful while working full-time.
When I was working, I thought I was way too busy for board service. Now, I realize it would’ve been a benefit for the company more than a distraction due to the experience I would’ve gained.
Even the most experienced leaders deserve the chance to keep learning—and keep leading.
If you’re interested in learning more about Board Readiness for yourself, we recommend starting here. Or if you are curious to learn how a board readiness strategy can assist in the ongoing leadership development and retention efforts for your current executive team, this will be the most helpful content for you.
And if you’re ready to discuss what board readiness could look like, contact us today.
