Risks Confronting Boards: Level of Confidence in the Management of Risk by the Organization’s Leadership (Part III)
Senior management succession planning has emerged as the top concern for not-for-profit boards and it is clear that its management could be part of the concern.
As we’ve previously identified, not-for-profit boards rank senior management succession planning as their overall most important concern. Directors of public and private organizations rank it as their second most significant concern.
Furthermore, directors on not-for-profit and public boards also identify it as one of the most challenging risks to effectively oversee. So, how is something of such concern being managed?
Not-for-profit boards show the largest number of directors acknowledging that senior management succession planning is poorly managed by the organization’s leadership. No other risk ranked lower.
Building and maintaining top talent is a top concern for not-for-profit boards, while some of these organizations might even have significant revenues, is the money able to be allocated to hiring and developing people with key skills?
Later in the series, we will further explore this top trending concern and its implications for not-for-profit organizations.