Should you have a mentor?

A successful boardroom career is not just about knowledge and experience. It’s also about having the right connections.

For this reason, mentorship and sponsorship can play an important role in helping you succeed.

Mentors provide invaluable advice, insights and support to those seeking to enter the boardroom.

They have the expertise to tell you about a board member’s responsibilities, best practices for meetings and decision-making, and other important matters, and risk evaluation. 

A strong mentor relationship can also provide a sounding board for fresh ideas – essential for a director that wants to stay ahead of the curve.

Sponsorship is a game-changer for professional development, especially for women and minorities who often encounter unique challenges at work. 

So, what exactly does sponsorship entail?

A sponsor is someone willing to advocate for you and your career. It is typically someone in a more elevated position who can influence decisions related to your professional development. 

Having a sponsor means knowing someone who’s on your team and vocal about it. They’ll recommend you for promotions and provide you with opportunities to grow and develop your skills.

Professionals with sponsors are more likely to receive promotions than those without. This means you should definitely consider seeking a sponsor if you’re serious about climbing the corporate ladder.

What’s your dream? When you retire, what role will it be from?

This powerful concept helps you visualise your long-term career goals and aspirations.

This is crucial because it equips you to identify potential sponsors who align with your objectives and can unlock new opportunities.

• What do I want to achieve in my career?
• In which industry or role do I see myself thriving?
• What values are paramount to me in the workplace?

Search for experienced professionals with expertise in the areas you want to improve on and share similar values. You may find them within your organisation or industry network.

Attend events, join professional associations, or engage with them online — this will help build rapport before approaching someone about mentorship.

Be clear about what you hope to gain from the relationship and offer something valuable in return, like fresh perspectives.

Keep lines of communication open by setting regular check-ins and being responsive when they reach out to you. This helps maintain trust and respect between both parties.

Don’t forget: a successful mentoring relationship requires effort from both sides. Here are some tips to make it work:

• Show gratitude with a thank you, meaningful gift or other recognition. 
• Give and take. Mentorship is a two-way street; share your own skills if relevant. 
• Be proactive. Take the initiative to schedule meetings and set goals.
• Stay accountable. Be honest about your progress and challenges.

Companies that invest in structured sponsorship programs are making a smart move; these programs help retain top talent, promote diversity and build mutually beneficial relationships.

To make the most of your company’s investment in sponsorship programs:

1. Create clear objectives and guidelines for both sponsors and proteges.
2. Foster an inclusive culture where diverse perspectives are valued.
3. Maintain open communication channels between all parties involved.
4. Evaluate program effectiveness regularly to ensure continuous improvement.

Should a board director have a mentor? Yes. Where are they going to find one? Networks that are already established.

Membership of the Corporate Governance Institute offers just the kind of community you need. 

In addition to exclusive content and knowledge-building across the governance landscape, you’ll have your first chance to network with professionals and find the mentor you need.