6 reasons to consider corporate board service on your professional journey

Having left federal service in 2012 as a member of the Senior Executive Service for 12 years, and a GS-15 before that, I have served on three corporate boards, two of these are ongoing.  

My former federal colleagues have often asked me over the years how I managed to find corporate board positions.  Inherent in their questions is not so much the “How” of it all, but the “Why” of it all. Why would a corporate board find a 20-year veteran of the federal government suitable as a board member?  What in my 20 years of service to the federal government made me a good fit for a corporate board?  

I decided to help encourage senior level public servants to consider corporate board service as part of their next professional steps, and to share my views on why senior level public servants meet the basic criteria for corporate board service.  

What I have found over the years through my own experience is that senior feds do not appreciate that they ALREADY have much of what it takes to serve meaningfully on a corporate board. They just do not appreciate it — as I did not.

To set the stage for my views, I am referring hereto “independent” corporate board positions. Simply put, independent directors have no management/operational responsibilities for the corporation and have no conflicts with respect to family affiliations with management or other financial ties outside of their director role.

Here are six reasons why senior federal officials should consider corporate board service as independent directors following their federal service tenure:

1. Strategy and Oversight:  Directors are responsible for strategy and oversight of a corporation, including selecting and developing the C-suite (CEO, CFO etc.) and approving the strategic direction for the organization. These responsibilities are not dissimilar from any SES or GS-15 in a major agency —selecting talent, developing talent and setting the organizational strategy are part and parcel of the senior federal exec experience.
2. Being mission-driven:  Federal executives are driven to meet their agency objectives and bear a responsibility to the U.S. taxpayer for their success. In the same vein, board directors are driven to meet their corporation’s objectives and bear a responsibility to their stakeholders, namely, their investors. So, while the stakeholders are different between public and private sectors, the drive is the same:  meeting the goals and objectives of the “investors,” be they the U.S. taxpayer or the venture capitalist, private equity or other shareholders in the company.
3. It’s a team sport: Leading a federal agency or major federal program requires an array of skill sets and experiences in order to achieve success. This is no different than in the private sector and in corporate board service. Skills developed in the public sector on how to manage complex personnel or training situations for senior professionals are relevant in the corporate board experience. And, in the federal agency, the senior exec is responsible for development of direct reports as needed. This is the same principle in play for corporate board members — recognizing strengths as well as weaknesses of C-suite members, and working to improve any deficiencies, is essential for corporate board success and success of the organization.
4. Influence, contacts, networking: Leaders of federal agencies know where potential collaborations may be built. Likeminded agencies on specific issues may, for example, co-fund priority initiatives. In this same vein, the most successful corporate board members know how to leverage federal or other relationships to the benefit of the corporation. One clear example is when contracting officials retire from an agency then consult with a company with business at their former agency.  But there are other ways for former federal officials to assist corporate priorities — just knowing the landscape of the federal programs and the network of colleagues working in key areas is an asset for many companies. 
5. Compensation: While compensation varies between public company boards and private company boards, every board will have a compensation package. Most individuals do not pursue corporate board service for compensation alone — as there are responsibilities and liabilities that go along with service. But at the end of the day, corporate board service may provide income beyond retirement that is attractive.
6. Life-long learning: If your senior-level government service will conclude in the near term, or if it has already, and you are looking for opportunities to continue to contribute to your field or to the growth of an organization in your field (or beyond), you may wish to consider corporate board service. I consider board service in many ways a “lifelong learning” adventure. You may have specific expertise in science, in environmental sustainable development, in AI or quantum computing or in government contracting, just to name some fields. These and so many other fields of expertise — through a federal government lens — are attractive to corporations. And for you, board positions at relevant corporations will introduce you to like-minded colleagues who look at issues in your field and in which you are expert, but through a business lens. This is where the lifelong learning comes into play, and, from my experience, it is one of the most rewarding aspects of corporate board service. And, I will add unabashedly that it can all be fun. Learning, contributing and growing an organization in a field in which you care about and with newfound colleagues – yes, it can be fun!

This was focused on the “Why” of senior feds joining corporate boards. The next question if you are interested in knowing more is the “How” of it all. I have comments on all of this, but will leave you with two main references, both of which can help to educate you on board service. I am a proud member of both organizations: the Private Directors Association provides training, education and a matching program with  private companies looking for board members and the National Association of Corporate Directors provides training, education and other services for both public- and private company boards.