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AcctTwo Blog

Succession Planning: Best Practices for Managing Millennials at Work

Faith-based organizations hire with their heart and people stay long-term because of their belief in the mission. Career longevity is often expected and frequently rewarded – especially within certain generational circles. A recent report on the millennial generation reveals that 21 percent of millennials say they’ve changed jobs within the past year, which is more than three times the number of non-millennials who report the same. At the same time, Generation Z is growing into the workforce quickly and many who are in this generation are drawn to opportunities for service.

When thinking about the future of your organization, keep in mind the best practices for managing Millenials at work. Consider what leadership roles are (or will be) available, how to keep your younger workforce engaged, and how you can implement a successful succession planning process. “Engagement is absolutely the answer to employee retention, and the best way to engage your employees is to let them know you’re invested in them,” said Ryan Ross, vice president of Global Alliances at Hogan. “Tell them your plan for them within the organization, assign them mentors, and give them learning opportunities.”

Topics: back office succession Planning Not-for-Profit and Faith-Based

Succession Planning in Nonprofit Organizations: Culture Really Matters

Romans 8:28 ESV: “And we know that for those who love God all things work together for good, for those who are called according to his purpose.” Faith-based organizations take great pride in the culture that they cultivate (rightfully so), and that shouldn’t be overlooked in the hiring process – especially for succession planning in nonprofit organizations

Topics: back office succession Planning Not-for-Profit and Faith-Based

The Importance of Good Church Leadership Succession Planning

Good leadership matters. As an organization, your emotional intelligence is vital to the church leadership succession planning process. People work for people. “People are definitely a company’s greatest asset,” says Mary Kay Ash, CEO of Mary Kay cosmetics. “It doesn’t make any difference whether the product is cars or cosmetics. A company is only as good as the people it keeps.” I think back to every organization that I’ve ever been in or a part of and that sentiment is so true. People are so important. Relationships with people are what bind us, especially in faith-based organizations when our focus is on the good work we do with people and spreading the word of the Lord. Faith-based employees are stewards of the organization, no matter which role they are in.

Topics: back office succession Planning Not-for-Profit and Faith-Based

The Purpose of Succession Planning

The purpose of succession planning is to have a plan in place when someone within your organization leaves. This could be a career change, retirement, or an immediate life altering situation. Most of the time you can’t predict what’s going to happen, so having a succession plan in place can help work through the chaos when something unexpected happens. Deloitte reports that while 86 percent of leaders believe leadership succession planning is an “urgent” or “important” priority, only 14 percent believe they do it well. Similar to buying accounting software, succession planning is a function that you only do a handful of times in your career. It is realistic to feel that you don’t do it well if you don’t do it often.

Topics: back office succession Planning Not-for-Profit and Faith-Based

Nonprofit Succession Planning Best Practices Plan for Success

Nonprofit Succession Planning Best Practices - If You Fail to Plan, You Plan to Fail

A few months ago we started researching nonprofit succession planning and how that impacts the faith-based back-office. Being in the finance and accounting world, we've seen some great examples and some not so great examples of succession planning for finance and accounting professionals. This led to months of research that turned into many conversations with succession planning experts and members of our own team who have lived it. It became a passion project for many of us. We even published an eBook about it! What became clear was, in order to be successful, you need to plan for success.

If You Fail to Plan, You Plan to Fail is the first section of the eBook. Over the next couple of months, we will release more sections on our blog. We hope you enjoy it as much as we did creating it.

Topics: back office succession Planning Not-for-Profit and Faith-Based