NEWS AND INSIGHTS UPDATE:
According to research from the University of Bristol of top U.K. companies, board room appointments are closely tied to social connections, specifically, membership in elite, private clubs and golf clubs.
The research team studied 1,700 U.K. listed companies which made appointments to their boards between 1998 to 2008. They analyzed the person chosen for each board position as well as a set of potential candidates comprised of approximately 2,600 directors. The research is still ongoing, but the team has already shared the following:
“Early findings show that before taking account of individuals’ other characteristics, those who are appointed to a board are much more likely to share an educational or social connection with current board members than those not appointed. Furthermore, the research suggests that social connections through private members’ clubs and golf clubs – as well as networks of contacts established through existing boardroom positions – may play a role in shaping who gains a seat on a board.”
Get the Details: Study reveals extent of social connections in shaping boardroom appointments via phys.org
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Susan Gunelius
Susan Gunelius is the Founder and Editor-in-Chief of Women on Business. She is a 30-year veteran of the marketing field and has authored a dozen books about marketing, branding, and social media, including the highly popular Ultimate Guide to Email Marketing, 30-Minute Social Media Marketing, Content Marketing for Dummies, Blogging All-in-One for Dummies and Kick-ass Copywriting in 10 Easy Steps. Susan’s marketing-related content can be found on Entrepreneur.com, Forbes.com, MSNBC.com, BusinessWeek.com, and more. Susan is President & CEO of KeySplash Creative, Inc., a marketing communications company. She has worked in corporate marketing roles and through client relationships with AT&T, HSBC, Citibank, Intuit, The New York Times, Cox Communications, and many more large and small companies around the world. Susan also speaks about marketing, branding and social media at events around the world and is frequently interviewed by television, online, radio, and print media organizations about these topics. She holds an MBA in Management and Strategy and a Bachelor of Science degree in Marketing and is a Certified Professional Career Coach (CPCC).
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Though this study was done in the UK, I have heard similar results about boards here in the US. It does make sense – social and business relationships will cause people to hear about and be considered for opportunities.