As your business grows and expands, so does the need for board members to supervise financial and governance. This is usually done by elected leaders. Elections prevent a board’s leadership from having a monopoly of authority and also build trust in governance, which is distinct from management.
In general, the bylaws of your organization will identify the committee that is responsible for providing candidates to the board and seeking nominations. This committee is often the board development or governance committee. Additionally, the board can invite an outside expert to help with the search for new board members.
The nominating committee should share all information about each candidate prior to the next board meeting. This can include bios, resumes, and a statement about the experience of the nominating committee with each candidate during the interview process. They should also provide the reasons why they believe this candidate is deserving of being selected for the position.
The most effective board members are individuals who not only share a love for your mission, but also have solid moral convictions and integrity. They should be long-game strategic thinkers, who are willing to contribute their time and resources for the benefit of the company. They must also understand the distinction between governance and management, and be aware of the fact that their primary function is governance. Board members should not be involved in conflicts of interest with the organisation’s management or other members of the board.