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Advisory board member hiring summary. Here are some key points about hiring advisory board members in the United States:
Here's a step-by-step advisory board member hiring guide:
Before you start hiring an advisory board member, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.
You should also consider the ideal background you'd like them an advisory board member to have before you start to hire. For example, what industry or field would you like them to have experience in, what level of seniority or education does the job require, and how much it'll cost to hire an advisory board member that fits the bill.
The following list breaks down different types of advisory board members and their corresponding salaries.
| Type of Advisory Board Member | Description | Hourly rate |
|---|---|---|
| Advisory Board Member | Top executives devise strategies and policies to ensure that an organization meets its goals. They plan, direct, and coordinate operational activities of companies and organizations. | $8-104 |
| Operations Vice President | The responsibilities of an operations vice president will revolve around overseeing business operations and ensuring workforce and workflow efficiency through evaluations and providing strategic plans that would drive the company to meet its vision and mission. An operations vice president, in adherence to the company policies and regulations, also has the power to hire and train employees, even to execute disciplinary actions such as termination or suspension when necessary... Show more | $50-119 |
| Vice President | Vice presidents are usually considered the second-in-command in the organization, depending on the organization structure. They take over when the president is unavailable to fulfill duties... Show more | $51-112 |
Including a salary range in your advisory board member job description is one of the best ways to attract top talent. An advisory board member can vary based on:
A good advisory board member job description should include a few things:
Including a salary range and the first name of the hiring manager is also appreciated by candidates. Here's an example of an advisory board member job description:
There are various strategies that you can use to find the right advisory board member for your business:
During your first interview to recruit advisory board members, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.
It's also good to ask about candidates' unique skills and talents to see if they match your ideal candidate profile. If you think a candidate is good enough for the next step, you can move on to the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've found the advisory board member candidate you'd like to hire, it's time to write an offer letter. This should include an explicit job offer that includes the salary and the details of any other perks. Qualified candidates might be looking at multiple positions, so your offer must be competitive if you like the candidate. Also, be prepared for a negotiation stage, as candidates may way want to tweak the details of your initial offer. Once you've settled on these details, you can draft a contract to formalize your agreement.
It's also important to follow up with applicants who do not get the job with an email letting them know that the position is filled.
After that, you can create an onboarding schedule for a new advisory board member. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.
Recruiting advisory board members involves both the one-time costs of hiring and the ongoing costs of adding a new employee to your team. Your spending during the hiring process will mostly be on things like promoting the job on job boards, reviewing and interviewing candidates, and onboarding the new hire. Ongoing costs will obviously involve the employee's salary, but also may include things like benefits.
You can expect to pay around $63,675 per year for an advisory board member, as this is the median yearly salary nationally. This can vary depending on what state or city you're hiring in. If you're hiring for contract work or on a per-project basis, hourly rates for advisory board members in the US typically range between $8 and $104 an hour.