Templates
Board Skills Matrix Template for Private Companies
A board skills matrix is a simple grid that lists the skills and experience your company needs from its board over the next few years, and records how well current directors cover each one. It turns a vague sense that the board is “missing something” into a short list of specific gaps you can recruit for.
By SeatBorne · Published
Start from strategy, not from a generic list
Many skills matrices fail because they begin with a long, generic list of competencies. For a private company, a more useful starting point is the two or three strategic priorities the board must oversee in the next two to three years — for example, preparing for a growth investment, entering a new market, or professionalising finance and reporting. Each skill area in the matrix should connect to at least one of those priorities.
How to build the matrix in five steps
- Write down the strategic priorities the board will oversee.
- Choose the skill areas that matter (SeatBorne suggests eight to twelve) for those priorities, and mark each High, Medium or Low priority.
- Agree a simple rating key with the chair before anyone scores — for example 3 = led it, 2 = oversaw it, 1 = some exposure, 0 = none.
- Score each director using specific evidence (a role, a transaction, a committee) and note the source. Where you do not know, write “?” rather than guessing.
- Look for high-priority areas with low or unknown coverage. Those become the gaps your next search addresses.
Missing evidence is not the same as weak experience
A blank or “?” in the matrix usually means nobody has asked, not that the director lacks the skill. Treat these as open questions to confirm with the director, and keep them separate from genuine gaps. Mixing the two can push a board to recruit for experience it already has — or to overlook a real gap because a score was assumed.
| Skill area | Priority | Director A | Director B | Director C | Reading |
|---|---|---|---|---|---|
| Strategy & growth stage | High | 3 | 2 | 2 | Covered |
| Finance & audit | High | 1 | ? | 0 | Gap + open question |
| Capital raising / M&A | High | 2 | 0 | ? | Partial; confirm C |
| Industry / sector | Medium | 3 | 3 | 1 | Covered |
| Technology & data | Medium | 2 | 1 | 3 | Covered |
| People & culture | Medium | 1 | 2 | 1 | Partial |
| Risk & regulation | Low | 0 | 1 | ? | Monitor |
Turning gaps into a search brief
Once a gap is confirmed, describe it as evidence you would expect to see, not a job title. “Has chaired or sat on an audit committee for a company preparing for institutional investment” is easier to assess than “finance expert”. Decide whether the gap needs a fiduciary director with voting responsibility or an advisory board member who offers guidance without a director’s governance authority. Then carry the gap, the evidence and the role type into a recruitment brief.
In SeatBorne, the free board assessment walks through the same steps and produces an expertise gap summary you can turn into a draft search.
Blank skills matrix worksheet
Board skills matrix worksheet
BOARD SKILLS MATRIX — [Company name] — [Date] Strategic priorities for the next 2–3 years: 1. ____________________ 2. ____________________ 3. ____________________ Rating key 3 = Led it (accountable executive or chair-level experience) 2 = Oversaw or worked closely with it 1 = Some exposure 0 = No relevant experience ? = Not yet known (missing evidence — confirm before scoring) Skill area | Priority (H/M/L) | Director A | Director B | Director C | Evidence / source | Gap? ---------------------------|------------------|------------|------------|------------|-------------------|----- Strategy & growth stage | | | | | | Industry / sector | | | | | | Finance & audit | | | | | | Capital raising / M&A | | | | | | Risk & regulation | | | | | | Technology & data | | | | | | People & culture | | | | | | Go-to-market / customers | | | | | | Governance & board practice| | | | | | Geography / international | | | | | | Gaps that matter for the priorities above: - ____________________ Open questions (missing evidence, not weak experience): - ____________________
Good practice
- Revisit the matrix when strategy changes, and at least once a year.
- Keep the matrix about skills and experience; do not use it to rank people on personal characteristics.
- Share the method with directors so scores are discussed, not imposed.
- Store completed matrices privately — they contain assessments of individuals.
Frequently asked questions
- How many skill areas should a board skills matrix have?
- There is no fixed standard; SeatBorne suggests eight to twelve. Fewer can hide real gaps; many more turns the matrix into a checklist nobody maintains. Every area should connect to a strategic priority the board oversees.
- Who should score directors?
- Directors normally score themselves against an agreed key, and the chair reviews the results with them. Scores should cite evidence such as a role, transaction or committee, and unknowns should stay marked as unknown.
- Should a skills matrix include personal characteristics?
- This template covers skills and experience only. If your board also tracks other composition goals, handle them separately and in line with applicable law and your own policies; do not use the matrix to rank individuals on personal characteristics.
- How often should we update it?
- Whenever strategy changes materially, when a director joins or leaves, and at least once a year.
Sources and further reading
- BoardPro: matrix of board skills template (background reading)
- Aspen Family Business Group: board governance strategic skills matrix (background reading)
- UK example only: Financial Reporting Council, UK Corporate Governance Code (written for listed companies)
External sources are for background; SeatBorne is not affiliated with them.
General information, not legal, tax or employment advice. Examples use fictional companies and people. Requirements for directors vary by jurisdiction and company documents.