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Sustaining the Vision: Leader Succession
Keys to Navigating the Changing Landscape
Introduction of SST Partners
Rebecca DaVee, CPAOutsourced Accounting/CFO Services
Bill Sims, CPAAudit – Nonprofit Organizations
Housekeeping
• Webinar will last approximately 55 minutes
• Attendees will be muted during our discussion, however as we cover various discussion items, post your questions and we will attempt to answer them.
• 1 Hour CPE Credit - in order to receive credit from SST, you must answer the polling questions, respond to the survey and return evaluation/attendance verification form.
• Any questions?
Learning Objectives
• Engage your board in succession planning
• Prepare leadership for exit transition• Create an emergency backup plan• Create a succession plan• Encourage leadership development
Today’s Nonprofit Sector• Nonprofit Sector –
3rd largest US employer
• Approx. 2 million NPOs
• Employ 10.7 million people
• Produce revenues in excess of $1.9 trillion
Hiring and Recruitment
• 52% do not have a formal recruitment strategy
• 67% do not have a formal recruitment budget
• 68% do not have a social media recruitment strategy
• Most candidates for senior/executive level positions come from other nonprofits
Ready or Not
Succession = Change
Vision
Mission
Strategic Plan
Team Effort
Risks vs Benefits
RISKS BENEFITS
• Going out of business
• Sudden and unprepared loss
• Loss of relevancy
• Key operating roles
• New energy/ talent
• Defines leadership and how to advance
Emergency Backup Plans
Purpose
1. Define short and long-term unplanned absence2. Clarify who decides the absence is occurring3. State who assumes the functions and roles of the executive
during the absence.
Emergency Backup Plan
• Create Role/Function• Determine Staff• Communication Plan• Cross-Training Plan• Finalize/Monitor
Succession Planning Roles
• Board Members
• Executive Director
• Key Staff
Essential ComponentsIdentify ED duties and responsibilities
Interim ED
Assignment of duties
Establish timetable
Review/update job description
Who is responsible for identifying, recruiting, interviewing and selecting new ED
“The old adage ‘People are your most important asset’ is wrong. People are not your most important asset. The right people are. Good to great depends on having the right people on the right bus at the right time.” Jim Collins, Good to Great
Strategic Leader Development
1. 3-year strategic plan for leadership development
2. Annual executive performance evaluation
3. Board self-assessment4. Annual evaluation of
staff5. Develop high-
performing team
Strategic Leader Development (Cont’d)
6. Cultivate relationships with external stakeholders7. Financial reserves (6 months operations)8. Financial management systems = industry standards9. Administrative operational manual
Organizational Culture
• Organizational mission• Value and recognition• Understand requirements
for leadership• Leadership development is
encouraged and rewarded• Strategic plan reinforces
developing leaders• Builds a diverse and
sustainable culture• Change occurs calmly
Questions&
Comments
Learning Objectives
• Engage your board in succession planning
• Prepare leadership for exit transition• Create an emergency backup plan• Create a succession plan• Encourage leadership development
Resources
• “Managing Executive Transitions: A Guide for Nonprofits” by Tom Wolfred
• CompassPoint Nonpofit Services – www.compasspoint.org
• “Elements of a Good Nonprofit Leader Succession Plan” by Eileen Morgan Johnson– whitepaper #31072 - www.asaecenter.org
• “Sustaining Great Leadership: Succession Planning for Nonprofit Organizations” by Tom Adams.
• Annie E. Casey Foundation Executive Transition Monograph Series www.aecf.org
Succession Planning
Questions or more information:
[email protected]/918.857.5685
[email protected]/972.341.9545