Shownotes
Non for profit boards, particularly in the voluntary sector, serve as excellent stepping stones for aspiring directors. However, these roles come with their own unique set of challenges. However there are misconceptions and responsibilities that prospective directors must comprehend when contemplating nonprofit positions.
In this episode we are joined by David Maywald, a seasoned Non Executive Director and researcher. His journey from a financial services career to a full-time professional director provides valuable insights into the qualifications, competencies, and readiness required for board roles.
David discusses some of the essential factors that contribute to an executive's readiness when considering a transition to a board role and the challenges and potential pitfalls individuals face when making the transition to board roles.
No-for-profit board roles are not just stepping stones; they can also evolve into long-term commitments driven by personal values. Listen in to discover the hidden opportunities within the nonprofit board landscape.
WHAT YOU’LL DISCOVER IN THIS EPISODE:
- David's current portfolio and professional background (00:20)
- The impact of his research project on the board landscape (01:40)
- Factors that contribute to an executive's readiness for a board role (05:05)
- The challenges and potential pitfalls when transitioning to board roles (07:30)
- Psychological biases that can influence the transition into board roles (11:20)
- The complexities and responsibilities of serving on not-for-profit boards (15:30)
- Tips for securing a role in not-for-profit sectors (25:23)
- David's findings from his research on board opportunities and compensation in Australia (30:53)
Quotes
"There are well-meaning people who are passionate about the causes but don't necessarily understand the gravity of their duties and obligations and the potential positive or negative impact they could have on the organisation." -David Maywald
"Beyond the financial implications of the cost of doing business or having to deal with audits and regulators, there are important social ethical issues that have a lot of gravity." -David Maywald
“If your full time role, or your business depends on you being a manager but then in a 5pm board meeting, you're suddenly flipped into the governance space, that can be really hard, including for Chairs” -David Maywald
