Any candidate worth to become a board member is in high demand. They have special skills for being on the table. As the appointing authority, you must find some form of remuneration for your board members. Generally, organization pay board members as follows: Sitting allowances – members received about the US $50 to US $200 dollars per sitting depending on the size of the organization. Not for profit usually, provide transport refund of about US $50 per sitting. However, as not for profits (NPFs) strive to diversify revenues to increase unrestricted income, board members with business acumen are increasingly being…
How to gain personal advantage and win in your life
Around 2010, I received an air ticket to travel to Johannesburg for a job interview. I was so excited. I had applied for a job at a regional company. This was a second time, luck was smiling my way. Way back in 2007, a similar opportunity arose and I took it. I failed the interviews. When I send an email asking why I had not to go through the answer was simple: size. The panelists thought that the job needed someone bigger size than I was. This time I worked on my leadership presence – you know trying to command…
How much do board members get paid?
Are you a board member? Are you paid monthly or quarterly? I am asked this question frequently. Corporate governance has evolved so are board practices. Gone are the days of volunteerism. To attract and retain the best talent, you must consider some form of remuneration. There are two types of board – not-for-profit and for-profit boards. Most not-for-profit need volunteers. Do not join those boards expecting some form of payment. However, like all boards, you may receive a sitting allowance to help recover your travel costs to and fro the venue of the meeting. It is not good to expect…
Beyond the job description
Recently, a client asked me to help sit in the interview as a guest panelist for the role of Executive Director. These are some of the requests you cannot refuse. We are in the era of client retention and customer loyalty. This was my opportunity to deepen the client relationship. I quickly asked for the following: Was the job advert placed in the newspapers or the website? If yes, share a copy of the advert. A copy of the detailed job description with a clear scorecard and KPIs. Is it available? Share a copy. If not, The candidate’s curriculum vitae…
Who is your lifejacket at the workplace?
Are you a swimmer? Ever since I came face to face with the grim reaper a long time ago in my teens, I have always looked at any pool of water with suspicion. I almost drowned if it was not for a true friend who threw me his life jacket. Another time, years later, I gathered confidence and went to the Swimming pool in Kampala. Moving like a pro, I dived into the water. Little did I know that it was the deep end. It is tough to try to float on water if you don’t know. With a shock,…
What are the top two reasons that cause businesses to collapse?
There is no business that is too big to fail. Like any football team, if goals are not scored, matches cannot be won. Such a football club is heading south! The same thing applies to business. If money is not coming in, the business will soon have expenses piled up and no cash to pay the bills. Anything that stops money from coming in or leads to a sudden loss of cash, can cause the business to collapse. Fines and penalties due to non-compliance to laws and regulations. Lack of compliance could cause a profitable business to go down under overnight.…
