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iQuestions Faculty, Jack Herschend 
 
 
Question: 
 
How do I reward board members? 
 
Answer:   
 
For rewarding board members, of course the first thing that comes 
across is a paycheck. That’s important, from the standpoint of just 
being fair, in terms of the hours and days that a person is going to 
spend on a for-profit board.  
 
But far more important than the compensation is the reward of 
knowing that you’re making a contribution, you’re making a difference, 
you’re serving in an effective way.  
 
So, it’s up to the president, it’s up to the CEO and the chairman to 
really stop and think about what each board member has contributed. 
Notes, telephone calls afterwards, different ways of saying, “Let me 
tell you specifically what you did for us in that board meeting, when 
you asked that tough question.” Or, “Here’s what I heard you say that 
is going to make a real difference in the way we treat our people.” 
 
Whatever the contribution is needs to be fed back, so that the board 
member gets the satisfaction of knowing that he or she is really 
serving in an effective way. 
 
  
 
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