CCI-Review - 2020/2021 - #1

… Finding and Recruiting Good Board Members

7. A well-known candidate is not always the best choice. An individual who is well-known in the community or who is a personal friend of an existing director, while possibly a great addition to your board, may not always be a good fit. Candidates who can make a commitment will serve you better than a person who wants to help but is too busy to come to meetings or follow-up on action items. 8. Think about potential conflicts of interest. A conflict of interest does not disqualify a candidate but candidates must disclose conflicts of interests to owners. It is unfair to ask someone to sit on your board if the potential exists for him or her to be in a conflict of interest and place the board in a position where the board frequently loses quorum and cannot make a decision. For example, if spouses are both board members of a three-person board and they want to alter their unit, they are both in a conflict of interest with respect to the proposed contract (the alteration agreement) and the board does not have a quorum to make a decision to approve the alteration and sign the agreement.

9. It’s all in the attitude. Be positive when you approach potential board members. After all, you are not just asking them for a favour – a well-run corporation is an asset to all owners! 10. Personal requests work best. General calls for board members might generate some interest, but the best boards go after the future candidates they want and personally ASK them to participate. Ultimately, a functional and well-managed corporation is what all unit owners want. Even the best condo managers rely on board members to provide direction and make decisions. Without good board members, condo corporations can face serious governance and compliance issues which can have a direct impact on property values. All condo corporations, but especially self-managed corporations, need to always be thinking about recruitment and succession planning. - LG, SS Sources: sector-resources/board-development/tips-recruiting -board-members

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