More Executives Skipping Retirement and Working for Nonprofits
According to the Center for Nonprofit Policy & Practice at the Maxine Goodman Levin College of Urban Affairs at Cleveland State University, 2 of 3 Nonprofits will experience an executive transition within the next 5 years.
Attrition due to retirement, crisis situations, and the increasing number of new non-profits is creating an opportunity for new leaders. So much so that Boards of Nonprofits are girding up for battle for a real war for talent, yet according to a nationwide survey by the Annie E. Casey Foundation, fewer than half had succession plans.
With the economy softening, and people living longer and desiring to work longer. This may create an opportunity for “third careers”, i.e., retired executives leaving the private sector, and moving on to meaningful work working for a cause they believe in.
This creates a potential win/win situation for everyone: Nonprofit boards, management, and the communities they serve.
According to the most recent information from the National Council of Nonprofit Associations, There were 837,027 charitable nonprofits in the U.S. in 2003; a 68 percent increase since 1993, and represent one of the 20 fastest-growing fields, according to the Bureau of Labor Statistics.
There are a growing number of talented managers in the 50+ crowd, who’d like to “give back”, and who really stand out because of their passion, and who can bring a fresh approach to the mission.
The fact is you never know where good talent is going to come from, and you need to keep your eyes open so that you can turn what could be a crisis situation into a golden opportunity.