One of the most common questions I receive from executives considering board roles is: How much time will I need to commit to each board seat? And just as importantly, How many board seats should I hold?
These are crucial questions, especially in today’s fast-evolving business landscape, where boards—both large and small—are becoming increasingly busy. Even at the smaller end of the market, such as private enterprises or not-for-profits, the time commitment can be higher than expected. Here’s what you need to know to manage your board portfolio effectively.
Time Commitment: The General Rule
A good rule of thumb is to allocate one day per month per board seat. This would typically cover the board meeting itself, which might last several hours, but the real work happens offline. Outside of meetings, you’ll be spending time:
- Reading board papers
- Talking to your fellow board directors
- Assessing key situations and challenges
- Handling ad-hoc emails and correspondence
In reality, this “one day per month” can often be an underestimation, particularly if you’re chairing the board. When you add the responsibility of coordinating other board members, setting agendas, and addressing issues, the workload can double—or even triple.
Board Committees: The Real Workload
It’s also a mistake to think that the time commitment is purely tied to the number of board meetings. Many boards have multiple committees, such as audit, risk, or remuneration committees, where much of the groundwork happens. You might have, say, 8 board meetings a year, but if you’re sitting on one or two committees, this number can easily double.
For example, if you’re on the audit committee, you might have 4 additional meetings on top of the board meetings. If you’re on another committee, you’re looking at another 4 meetings, meaning your total meeting count could reach 16—far more than the 8 you initially expected.
Balancing C-Suite Roles with Board Seats
If you’re still in an executive or C-suite role, taking on too many board seats can quickly become overwhelming. While it might seem manageable at first, the combination of executive responsibilities and board commitments can lead to burnout or underperformance in one or both areas.
I was recently part of a not-for-profit board where certain elements of the organisation weren’t functioning as they should. Some board members weren’t pulling their weight, which increased the time commitment for others. In this scenario, I found myself spending several hours each week dealing with board-related matters—far more than the “one day per month” rule would suggest.
Scheduling and Flexibility
One of the benefits of board roles is that meetings are typically scheduled well in advance. A well-organised board will have meeting dates set for the entire year, making it easier to plan ahead and manage your time. However, you’ll also need to be prepared for emergencies or last-minute meetings. If a CEO resigns, a PR crisis emerges, or the company faces a major challenge, you may be called to an emergency meeting at short notice.
It’s also important to note that not all meetings will occur during regular business hours, which can be an advantage if you’re balancing board duties with other commitments.
Finding the Right Number of Board Seats
The trend in the market right now is that many executives want to take on more board seats—sometimes too many. Based on my experience, a balanced board portfolio typically involves 4 to 5 board seats. For most people, this is the sweet spot for managing board commitments full-time while maintaining high levels of professionalism.
However, I know some executives who hold more than five seats, often blending non-executive and advisory board roles. They may have an executive assistant or team in place to help them manage the workload, which is crucial when the portfolio exceeds five seats. But, once you add chair-level appointments to your portfolio, the time commitment increases significantly, and you’ll need to be careful not to let things fall through the cracks.
Future Trends: Fewer Seats, Higher Focus?
There’s a growing sentiment that, as boards become more demanding, we may see executives taking on fewer board seats to maintain balance and ensure they can provide maximum value. Whether you’re considering a part-time or full-time commitment to board work, you’ll need to assess your own circumstances, workload, and the needs of the organisations you serve.
Expect the Unexpected
One thing to always keep in mind is that when things go wrong within an organisation, your time commitment can skyrocket. If a company is experiencing financial or regulatory difficulties, the number of meetings will increase significantly, and your carefully planned schedule might go out the window.
You need to build flexibility into your schedule to accommodate these unexpected demands. Board meetings can be called at short notice, and as a director, you must be prepared to step up during these critical moments.
Protecting Your Reputation
Lastly, it’s important to maintain your professionalism and protect your reputation. Missing meetings or failing to keep up with your board duties can quickly damage your standing. I recently spoke with a board chair who expressed disappointment over a board member who failed to attend a meeting without explanation. Such oversights can have long-term negative effects on your career, so make sure you’re not over-committing yourself.
In Conclusion
To summarise, managing your board portfolio effectively comes down to understanding the time commitment, planning for both the scheduled and unscheduled, and knowing your limits. If you’re taking on multiple board roles, ensure you have the bandwidth and support to manage them professionally. Whether you aim to serve on a handful of boards or build a full-time career around board work, always prioritise quality over quantity, and maintain the flexibility to adapt to the needs of the organisations you serve.