Do you have the team you need to implement your strategy?
Far too many nonprofits look at their “Salary”
budget line item as static. “This is all
we can afford. We need to find the best
person possible for this amount of money.”
This folks, is NOT being strategic. Sometimes, a strategy calls for a certain
kind of talent on the team. And oft
times, a certain kind of talent may cost more than what you are used to paying. If so, this is the time to look at
reallocating expenses and/or getting creative about revenue generation so you
can afford the right talent.
This issue is going to get particularly
challenging for Boards during the coming years as many Baby Boomers – who have
been significantly underpaid – retire.
If you have an aging CEO then I suggest you do some market research ASAP
on what it will cost you to replace her/him when he/she eventually retires (if
they can afford to!). A lot of Boards
have been shocked into reality as this has happened in recent years and the
Baby Boom retirements have just started.
(The oldest Baby Boomers turned 65 in 2011; those in the Baby Boomer
peak year will turn 65 in 2022.)
FYI – this is going to affect more than just the
CEO position and it is going to impact more than just salary. Overall benefit packages are going to have to
be rethought as well.
If you want to effectively implement a strategy
then you need the talent to do so. And
that is what making a Mission Impact
requires.
For more
ideas on how you can lead breakthroughs in your organization, follow this blog
and check out my web site at www.SheehanNonprofitConsulting.com You will find free resources you can
download, including a Breakthrough Strategy Workbook that you can download at
no cost. You can also check out my book,
Mission Impact: Breakthrough
Strategies for Nonprofits, and buy it if
you are interested. And you can follow Sheehan
Nonprofit Consulting on Facebook.
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