More women joining boards

Volunteering on another
company’s board is one way to gain experience.

SOUTH FLORIDA SUN-SENTINEL

FORT LAUDERDALE, Fla. — You want to be a CEO or company director, but how do you get there?

The path is not always clear. Women, especially, may not always hold the key jobs that put them in the running.

One strategy is to become a board member of another company. More public companies are limiting the number of boards their executives can sit on, which has opened the door for others.

That’s how Loretta Penn, Spherion Corp.’s chief marketing officer, came to serve on Tampa, Fla.-based electric utility TECO Energy Inc.’s board.

Spherion CEO Roy Krause and Penn recently talked about women reaching the top jobs and board positions during an event held by Women Executive Leadership, a Florida organization that works to tap women for board positions.

“We don’t have enough females in the C-level chain,” said Krause, referring to the chief executive, chief financial officer and similar titles. “That means we have to seek females who are ... vice presidents and senior VPs.”

For many women, who often have prime responsibilities as caregivers for children or parents, making time for a board position is a challenge. Penn says she’s at a time in life, now that her three children are grown, when she is able to devote time to a board seat.

She spends 20 to 25 hours a month on board-related work, mostly on weekends.

She also makes the most of down time such as airplane travel to do everything from board work to making out her grocery list.

“It really is a balancing act. It’s about prioritizing,” Penn says.

Mentoring program

Spherion, a Fort Lauderdale-based staffing company, has recognized the need to strengthen the executive pipeline through a mentoring program.

Area executives take rising stars under their wing.

“We’re challenging the top 10 percent to mentor others and help them become successful,” said John Heins, chief human resources officer at Spherion.

Bonnie Crabtree, the Korn Ferry International recruiter who found Penn for TECO, suggests volunteering for a nonprofit organization’s board to gain experience and community exposure.

“Do something to start a skill set,” Crabtree says.

People who want to move up need “not only work experience, but other life experiences that round a person out,” she says.

Women in particular seem more reluctant to seek new opportunities on their own, the recruiter says. “Women need to raise their hands and say, ‘I want to go to this.’ Don’t wait for company to come and ask you.”

Penn joined the TECO board to broaden her experience. By learning about a whole new industry and how another company operates, she has been able to contribute in new ways to her own employer.

She advises women to look for a boss like hers who encourages people to challenge themselves. Krause says he often has trouble persuading executives to make what might seem like a lateral move, although more rounded experience can be the ticket to moving up the ladder.

“Make sure your boss knows what your goals are. Your boss may not know you’re willing to relocate,” Krause said.