Frequently Asked Questions about Women’s Advisory Boards

What is a Women’s Advisory Board (WAB)?

A WAB is a flexible vehicle that can be used for/as:

• Recruiting strategies and referrals

• Retention and promotion policies and procedures

• A mentoring resource for female employees

• Assistance in developing a process for promoting outstanding women

• Information on the importance of the women’s market, what women want and don’t want and how to most effectively target them

• A focus group for recommendations and critique of marketing strategies, advertising campaigns, collateral materials, sales tools and promotions

• Monitoring the community’s perception on your company, the competition, etc.

• Ambassadors of goodwill

• Hostesses for in-house functions, at charity events and select corporate meetings

• A high-profile PR vehicle.

Here is what our clients have said about their Women’s Advisory Boards

 

“The first year working with Advisory Link, our company started local WABs for six general agents out of approximately ninety across the country. Four of our nine national awards went to the local general agents involved in the program. We will definitely continue to expand this program to other agencies in the field.

Vice President, Professional Development/Communications,
 Mass Mutual Financial Group

 

“We just finished our big annual promotion. The nine branches that sponsored Women’s Advisory Boards averaged 146% of their stretch quotas. This is an amazing result.”

Executive Vice President, Mass Mutual Financial Group

 

 “Without a doubt, my Women’s Advisory Board is the best use of my marketing dollars and time in the history of my company. The results have been awesome!”

General Agent, West Financial Group

 

“I’ve been trying to do business with Asian-Americans for nine years and could never make it happen. In six months my Women’s Advisory Board introduced me to the key opinion leaders in that market. This year my company was chosen “Business of the Year” by the Asian-American Chamber in my city. This never would have happened without the relationships I’ve developed with my board members’ help.”

General Agent, HFG Advisors

 

“I started my Women’s Advisory Board with no women producers or managers. Because of the board’s reputation and contacts, I now have seven top women producers and three managers in less than a year.”

General Agent, Moore Financial Group

 

How can a Women’s Advisory Board benefit my company?

The results will vary, depending on your goals. However, your WAB’s program will typically:

• Increase the number of female employees, franchisees and referrals

• Increase retention and reduce turnover for both men and women employees

• Improve productivity through recruiting, keeping and promoting capable, satisfied people

• Lead to a more family-friendly culture with a healthy diversity of perspectives

• Increase revenue and profits via access to newly-targeted markets and more effective marketing strategies/materials

• Promote a better-informed, more client-directed sales force

• Enhance your database of current and potential customers

• Introduce your company to key centers of influence and their networks

• Raise your organization’s credibility and visibility in your marketplace and community

• Fine-tune your corporate giving program to get the most return for your charitable dollar.

Who serves on a Women’s Advisory Board?

Advisory Link creates WABs to fit a company’s specific needs. Members may include women who are:

• Professionally, ethnically and geographically diverse

• Prominent and well-connected in the community, their professional organizations and/or companies

• Pioneering in spirit

• Committed to helping other women

• Dedicated to your mission and willing to partner with you to insure your success

• CEOs, presidents, executive directors and high-level executives of both profit and non-profit organizations

• Business owners

• Academic and public sector professionals.

Why Would Women Serve on a Women’s Advisory Board?

Realizing that what motivates men and women varies, women will join the board because they:

• Were asked to be members by a woman they know and trust or whose reputation they admire

• See the opportunity to be involved in a challenging, pioneering effort

• Enjoy working together toward a common goal

• Will impact a dynamic corporation as advisory board members

• Welcome the chance to help women employees and customers

• Want to support a firm that realizes women are excellent employees, franchisees and a lucrative, underserved market

• Appreciate companies who recognize women’s leadership skills and respect their opinions.

Are Women’s Advisory Boards local, regional or national?

Your WAB can be any of the above. To date, we have created national boards where women fly to a central location for the meeting and local boards that meet within 25 miles of the women’s homes or offices.

How often does the Board meet? How long are the meetings?

WABs meet at different intervals. The meeting format, goals and the type of board determine the schedule. Local boards usually get together about five times a year for approximately two hours. National boards generally meet three times a year for one to two days.

If we want a Women’s Advisory Board, who will create it?

Advisory Link will meet with your company to determine:

• The purpose of the board

• Expected results

• If your company’s philosophy is congruent with ours

• Member demographics

• If the WAB will be local, regional or national

• When, how often and where meetings will be held.

If it’s a national board, Advisory Link will develop a tentative list of candidates for your review. Following your approval to proceed, we will contact the potential members and ask them to serve.

 

If it’s a local or regional board, Advisory Link will:

• Research and develop a slate of five WAB chair candidates in the designated community

• Come to your city and interview them along with the corporate liaison(s) who will be working directly with the board

• Collaborate with your representative(s) in selecting the chair

• Advise the chair as she chooses and recruits 20-25 women to serve on her board.

What role does Advisory Link play in facilitating a Women’s Advisory Board?

If it’s a national board, Advisory Link will:

• Put together each meeting agenda with the liaison from your company

• Facilitate all meetings

• Keep in touch with corporate representatives and WAB members in-between meetings

• Make sure the process stays on track

• Create a measurement tool to evaluate the progress of the board

• Consult with the liaison to revise WAB goals and strategies accordingly

• Add and rotate members off the WAB as needed.

For local or regional WABs, Advisory Link will:

• Provide a comprehensive manual for the Women’s Advisory Board program

• Collaborate with your chair, liaison and administrative person to develop meeting agendas and overall strategies to work effectively with the board

• Assist in defining community involvement approaches to support recruiting and marketing efforts and allocate charitable dollars

• Fill in gaps for chair/liaison when either is unavailable or needs help

• Keep the WAB on track to accomplish its goals

• Contribute PR ideas

• Suggest and facilitate partnerships with other companies

• Assist with rotating off current members and selecting new ones.

What is my company’s role and commitment?

Your company will be responsible for:

• A commitment to a three-year program. Starting, then eliminating the Board, can be detrimental to your firm’s reputation.

• Input on formulating WAB meeting agendas, policies and goals

• High level representation at WAB meetings and community/national meetings and functions

• Administrative support

• All WAB meeting and related expenses

• An honorarium for the chair

• Consulting fees and travel expenses for Advisory Link.

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