Preparing Young Managers to Take Over
The cover article in "the Chronicle of Philanthropy" (March 6, 2008) identifies a key sector challenge of 75% of executive directors planning to leave their job in the next five years - and the critical need to prepare the next generation to take on these roles.
With the nonprofit sector facing a level of turnover similar to the US Federal government which is now referred to as the "retirement tsunami" they must take a close look at their leadership and governance systems that will enable them to navigate through this potentially tumultuous period.
The Balanced Scorecard is a well proven strategy management tool for organizations embarking on a period of change. The long term strategy and underlying cause and effect linkages should be agreed to and captured in a strategy map. Related performance indicators, both leading (predictive) measures as well as outcome measures, should be monitored to evaluate current and expected performance. This will provide the strategic context for budgeting and initiative management. With this level of accountability and visibility in place the next generation of leaders will be experienced in strategy management and strategic decision making.
This experience with the Balanced Scorecard management process is what will make the difference for a new leader getting started with the wind at their back versus one who must lose time analyzing and deciphering an organization's strategy and performance.
June 2021
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