Bridgestar’s “Leadership Matters” Addresses Strategies and Implications of Establishing “C-Level” Interim Leadership

Boston, MA -- (ReleaseWire) -- 01/19/2007 -- During a transition or a period of urgent need, appointing an interim leader can be an attractive option for many nonprofits because it provides an immediate solution and affords time to hire the right person. Published by Bridgestar, a nonprofit initiative of the Bridgespan Group dedicated to attracting, connecting, and supporting senior leaders for the sector, the January issue of "Leadership Matters" addresses the topic of hiring interim leaders in senior management, or C-level, positions.

While there is a growing body of knowledge and resources around the practice of hiring interim executive directors, little has been written about the use of interim personnel in other leadership positions. This issue includes interviews and a profile of the Jewish Community Centers of Greater Boston (JCCGB), and presents the strategies and implications involved in establishing interim nonprofit leadership.

In the article, Tim Wolfred, Senior Projects Director at CompassPoint Nonprofit Services, San Francisco, and Lynne A. Molnar, Managing Director of the Executive Transitions Program at Third Sector New England, Cambridge, MA, discuss optimal conditions for using interim executives; e.g., when a long-serving executive has left, a turnaround is needed, or during a system-building phase. They also offer several helpful tips for organizations considering hiring interim executives, including:

• Define clear goals for the interim person. Nonprofits may conduct an assessment or bring in a consultant to help with this.
• Don't let the interim period extend too long. Organizations can lose their sense of urgency in hiring for the permanent position, and may put activities such as new initiatives and partnerships on hold.
• Avoid using interim executives in externally facing roles.
• Be careful about using internal executives to fill interim positions. They are typically part of the status quo and it may be difficult for them to make the cultural changes that are needed.
• Think twice about using interim managers – internal or external – who are interested in having the job permanently. They could be in an awkward position where it may be difficult to make unpopular decisions.

"Hiring interim executives can have a very positive impact," said David Simms, Managing Director, Bridgestar. "Interim leadership can provide new perspectives and skills that enable nonprofits to meet their goals. Organizations can benefit from seasoned professionals who can handle short-term but critical needs of a transition or other major issue, while ensuring that there is adequate time to recruit and hire the right person to move the organization forward on a more permanent basis."

In a profile of the Jewish Community Centers of Greater Boston (JCCGB), "Leadership Matters" describes how the establishment of an interim COO during the organization's transition from a community of individual facilities to a single, marketing-facing agency provided many benefits, including:

• Buying time to define the longer-term position and find the right person
• Bringing the right skills to the transition, which were different from those needed to run the organization on an ongoing basis
• Providing a neutral, objective perspective
• Allowing the JCCGB to position the new hire for success, since the potentially difficult cultural changes were handled by the interim position

Each month, "Leadership Matters" selects a different theme about how to build and sustain effective nonprofit organizations. Available to Bridgestar members (or, for a complimentary subscription, please email subscribe@bridgestar.org), "Leadership Matters" is part of a robust portfolio of offerings that includes a job board that currently lists more than 150 senior positions across a range of service areas including the environment, human services, elder services, human rights, and youth services. The organization has assisted many organizations in finding new leaders through its talent-matching services, which include executive recruiting and related advisory activities.

The current issue of "Leadership Matters" is available at: www.bridgestar.org/Resources/Newsletters/2007/January2007.aspx.

About Bridgestar
Bridgestar (www.bridgestar.org), an initiative of the Bridgespan Group, is a nonprofit organization providing talent-matching services, content, and tools designed to help organizations build strong leadership teams and individuals pursue career paths as nonprofit leaders. Bridgestar's goal is to attract, connect, and support senior talent, leading to greater organizational effectiveness and social impact.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Bridgestar Celebrates Third Anniversary Serving Nonprofit Sector

Boston, MA -- (ReleaseWire) -- 12/13/2006 -- The December issue of "Leadership Matters," the monthly newsletter published by Bridgestar, a nonprofit initiative of the Bridgespan Group dedicated to attracting, connecting and supporting senior leaders for the sector, features a new guide to help private-sector senior executives translate their resumes for nonprofit job searches. Entitled "Writing Effective Resumes and Cover Letters," the article focuses on best practices to help job seekers improve their search-related communications.

The article is accompanied by "Adapting Your Resume for a Nonprofit Job Search," which includes tips and sample resumes to assist potential "bridgers" – senior leaders seeking to move from for-profit to nonprofit careers – in making their experience relevant to the nonprofit sector.

The resume guide follows the October release of the updated version of Bridgestar's comprehensive "Guide to Navigating the Hiring Process," designed to help nonprofits recruit the senior executives most qualified for positions and most likely to fit the organizations' missions and cultures.

"We're seeing significant demand for senior leaders, particularly driven by a leadership deficit projected at 640,000 senior positions over the next decade. As a sector, nonprofit organizations are showing more interest in recruiting and hiring people with private-sector and government experience. One stumbling block is that resumes that worked well in the private sector may need to be revamped to appeal to nonprofit hiring managers," said David Simms, Managing Partner, Bridgestar. "The response to services we have developed to support both job candidates and hiring managers, like the updated 'Hiring Guide' and our new COO mini website, has been tremendous, and we're planning additional new content as we prepare to kick off Bridgestar's fourth year."

While there is no single correct way to write or format a resume for the nonprofit sector, Bridgestar talent-matching professional Janet Albert says when adapting a primarily for-profit resume for a nonprofit job search, emphasize transferable skills, highlight nonprofit experience, and make the content relevant to a nonprofit hiring manager, which may entail providing descriptions for the companies they've worked for as well as industry jargon. This is especially important in cover letters, when bridgers need to make the case that this move makes sense for them and for the organization.

"In my experience, cover letters are more important to nonprofit clients than in the for-profit world. And the most compelling cover letters articulate the candidate's strong passion for an organization's mission and point to specific experiences that demonstrate that passion," Albert said. "People often include formal positions, such as treasurer of the board of a local nonprofit, while omitting less formal involvement such as developing brochures to help market their child's preschool. Having a specific section of the resume dedicated to community involvement or nonprofit work can help make this experience more visible."

Each month "Leadership Matters" picks a different theme designed as a conversation about how to build and sustain effective nonprofit organizations. Previous issues have articles filled with tips and techniques for recruiting (and being recruited), and next year, Leadership Matters will include several such features. "Leadership Matters" is available to all Bridgestar members or, for a complimentary subscription, please email subscribe@bridgestar.org. The newsletter is part of Bridgestar's robust portfolio of offerings that include talent matching, in-person and online networking, and access to content including guides, tips and other resources.

The current issue of "Leadership Matters" is available at:
www.bridgestar.org/Resources/Newsletters/2006/December2006.aspx.

Bridgestar's Third Anniversary
Launched in Dec. 2003, Bridgestar provides talent-matching, content and tools to help organizations build strong leadership teams and individuals pursue career paths as nonprofit leaders. The organization currently has more than 20,000 members and its job board, which lists only senior-level positions with nonprofit organizations around the country, has posted more than 1,000 listings since its launch, including more than 600 postings this year alone.

"Bridgestar's growth and success validates the foresight of the Bridgespan Group. In providing strategic advice to enable nonprofits to build stronger and more effective organizations, Bridgespan realized that to succeed, organizations need the right leaders to execute that strategy. Focused on developing the sector's leadership potential, Bridgestar's success is due to our terrific and talented team as well as to our dynamic membership, who have helped us develop tools, best practices and case studies that are helping nonprofits build strong leadership teams," Simms said.

About Bridgestar
Bridgestar, an initiative of the Bridgespan Group, is a nonprofit organization providing talent-matching services, content, and tools designed to help organizations build strong leadership teams and individuals pursue career paths as nonprofit leaders. Bridgestar's goal is to attract, connect, and support senior talent, leading to greater organizational effectiveness and social impact.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Senior-level Job Board Hits 1,000 Postings

Boston, MA -- (ReleaseWire) -- 11/30/2006 -- Bridgestar, a nonprofit initiative of the Bridgespan Group dedicated to attracting, connecting and supporting senior leaders for the sector, announced today that it has reached a significant milestone: its 20,000th member. Launched nearly three years ago in Dec. 2003, Bridgestar provides talent-matching, content and tools to help organizations build strong leadership teams and individuals pursue career paths as nonprofit leaders. The organization has doubled its membership over the past 15 months.

Bridgestar also announced that its job board, which lists only senior-level positions with nonprofit organizations around the country, hit its own milestone: 1,000 postings since its launch. Current postings include positions for executive directors, CFOs, COOs and other senior jobs in California, Connecticut, Georgia, Illinois, Massachusetts, Missouri, New York, Tennessee, Texas, and Vermont. The success of the job board, which has included 500 postings this year alone, is due to growing awareness of the site and of Bridgestar's niche in offering only senior leadership positions.

Established in part because Bridgespan recognized there will be a leadership deficit in the sector – now estimated at 640,000 senior positions over the next decade – Bridgestar serves as a resource for learning both how to find talent and how to apply that talent. The organization offers recruiting and talent-matching services, content, connections and other tools for organizations and individuals.

Members include individuals interested in pursuing nonprofit leadership and board positions; and nearly 1,750 organizations and foundations spread across 49 states and Washington, D.C. and worldwide.

Organization members operate across a range of service areas including the environment, human services, elder services, human rights, and youth services, and include: American Red Cross, Omidyar Network, Skoll Foundation, Share Our Strength, The Boston Foundation, Michael J. Fox Foundation, Robin Hood Foundation, Children's Aid Society, and others. Bridgestar also maintains strong relationships with business schools, universities, and other academic institutions including Stanford Graduate School of Business, Harvard Business School and the Kennedy School of Government, Boston University School of Management, the Wilson Center for Social Entrepreneurship at Pace University, Baruch College, The Wharton School, Tuck School of Business at Dartmouth, and many others.

"Doubling the number of members in 15 months is an important achievement, one that validates Bridgestar's mission. What's even more significant is our members' involvement in Bridgestar's offerings. Organizations rely on content like Bridgestar's popular and recently expanded Hiring Toolkit and the COO resource center to help them think about how to scope and recruit for senior positions. They closely read 'Leadership Matters,' our monthly newsletter. They come to us for talent-matching and other recruiting services, including free postings on our job board," said David Simms, Bridgestar Managing Partner.

Bridgestar also offers many resources for individual members, whether they currently hold positions in nonprofit organizations or are considering "bridging" from business into the nonprofit sector.

"The Bridgestar job board, which posts senior leadership positions, is an invaluable resource for members planning their careers," Simms added. "The initial response to our new online COO resource center has been extremely positive; our COO LISTSERV® is growing. Members currently in business or serving on boards tell us that they value our 'Guide to the Nonprofit Sector,' a section of Bridgestar.org that offers insights and tools for exploring paths into the nonprofit sector and finding board and senior leadership opportunities, and members have been introduced to board opportunities through our relationship with boardnetUSA. In addition, several of our "bridger" seminars in Boston and New York City have been oversubscribed."

MEMBERSHIP BENEFITS

Talent-matching
Members find senior leadership positions and/or recruit senior executives through Bridgestar's flexible menu of recruiting services and free job board. Bridgestar conducts searches for organizations across the country, and has completed more than 100 talent-matching engagements. Using the job board, individuals can browse and apply for nonprofit senior leadership positions, and manage their resumes and other documents. Members can also apply for board of director openings or identify board candidates through Bridgestar's partnership with boardnetUSA.

Access to content
Bridgestar offers leading-edge management perspectives and advice, including prevailing and innovative practices as well as original research, surveys, reports, and findings from the Bridgespan Group. Designed to help organization and individual members alike, the content is available on Bridgestar.com and through it monthly newsletter, "Leadership Matters."

Each month "Leadership Matters" picks a different recruiting- or career-related theme designed as a conversation about how to build and sustain effective nonprofit organizations. Previous issues have offered the comprehensive "Guide to Navigating the Hiring Process" and "Guide to Bridging," and have featured articles on the role of the nonprofit COO, flexible work arrangements, and business planning for nonprofits.

Networking and community events
Members can also connect to other leaders to learn from others, to share their expertise, and participate in peer groups, roundtables, online discussions, and all-member gatherings. Past Bridgestar community events have included: Independent Sector's Diana Aviv discussing how to improve nonprofit accountability and "Good to Great: Lessons for the Social Sector" a presentation by best-selling author Jim Collins, who discussed how to build great, sustainable nonprofit organizations. Members also participate in informal networking groups and the COO LISTSERV®.

About Bridgestar
Bridgestar, an initiative of the Bridgespan Group, is a nonprofit organization providing talent-matching services, content, and tools designed to help organizations build strong leadership teams and individuals pursue career paths as nonprofit leaders. Bridgestar's goal is to attract, connect, and support senior talent, leading to greater organizational effectiveness and social impact.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

First of Planned Series of Mini-sites Dedicated to Key Leadership Roles in Nonprofit Organizations

Boston, MA -- (ReleaseWire) -- 11/15/2006 -- Bridgestar, a nonprofit initiative of the Bridgespan Group dedicated to attracting, connecting and supporting senior leaders for the sector, today introduced a new area on Bridgestar.org designed specifically for nonprofit chief operating officers (COOs), offering ideas, tools and resources for prospective and current leaders as well as hiring managers.

Available at https://www.bridgestar.org/Resources/Roles/GroupCOO/Default.aspx, it is one of Bridgestar's growing roster of services for COOs, including informal networking groups and a COO LISTSERV®. It is the first of a planned series of mini-sites addressing the needs of key nonprofit leadership positions.

Bridgestar's decision to develop a COO-specific section is the result of a change within the nonprofit sector. Sometimes called deputy director, associate director, or director of operations, the nonprofit COO role is not necessarily new. What has changed is the increasingly formalized nature of the role and the sector's growing emphasis on management and operations expertise.

"When a recent Harvard Business Review article observed that the role of COO was misunderstood in the for-profit sector, where the position has a long history, we realized the nonprofit sector needed a resource for its COOs, whatever their actual titles. More than any other role, the COO's responsibilities depends not only on a range of the usual variables such as an organization's size, complexity, mission, and culture, but also on intangible variables such as the strengths and interests of the executive director and the COO," said David Simms, Bridgestar Managing Partner.

Based on its executive recruiting engagements, surveys and networking events, Bridgestar realized there had been a great unmet need.

"We learned that few resources exist to bring significant bodies of knowledge and content together for nonprofit COOs and hiring organizations," Simms added. "Our new section is designed to help individuals and organizations understand the role from a number of vantage points: general overview – such as what it is, who does it and how; becoming one, including how to prepare for the position; being one, such as managing one's career, and connecting to a broader community of peers to tap ideas and best practices. For organizations hiring COOs, we offer tools and best practices to help with scoping the role, finding a candidate, and understanding best practices for 'onboarding.' We also offer in this section a view into the Bridgestar job board, along with the ability to post senior leadership positions and manage resumes. Our goal is to be the premier destination for those seeking information and services – in effect, building everyone's capacity for stronger nonprofit organizations – and to make this resource highly interactive over time"

The COO section is comprised of six key areas:

- About the Role: Information about what the COO role entails, and profiles of nonprofit COOs, for those looking to learn more about the role and how it is fashioned in different organizations.
- Prospective COOs: Resources specifically for leaders preparing for job searches, including FAQs.
- Current COOs: Connections to the Bridgestar COO community, and resources for career planning.
- Recruiting a COO: Information and tools for hiring managers, from tips on creating the position and sample job descriptions, to ideas for finding the right candidate.
- COO Positions: View available operations positions from the Bridgestar job board, and/or post positions (organizational members).
- Bridgespan Knowledge: Related content from the Bridgespan Group on topics such as business planning and managing growth.

Bridgestar will continue to add content and features to the section. And over the next few months, Bridgestar plans a companion site devoted to chief financial officers (CFOs) and an update of "Explore the Nonprofit Sector," Bridgestar's area specifically for those senior managers in the private or government sectors beginning the journey of learning about nonprofit work, said Simms.

About Bridgestar
Bridgestar, an initiative of the Bridgespan Group, is a nonprofit organization providing talent-matching services, content, and tools designed to help organizations build strong leadership teams and individuals pursue career paths as nonprofit leaders. Bridgestar's goal is to attract, connect, and support senior talent, leading to greater organizational effectiveness and social impact.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

New Edition Provides Tips on Creating Great Matches Between Organizations and Job Candidates

Boston, MA -- (ReleaseWire) -- 10/13/2006 -- Bridgestar, a nonprofit initiative of the Bridgespan Group dedicated to attracting, connecting and supporting senior leaders for the sector, announced today an updated version of its comprehensive "Guide to Navigating the Hiring Process," now available online at www.bridgestar.org.

Designed to help nonprofits recruit the senior executives who are most qualified for positions as well as most likely to fit the organizations' missions and cultures, the 29-page guide is based on the collective 65 years of experience in the recruiting field (both for-profit and nonprofit) of Bridgestar's talent-matching team as well as input from the organization's membership. The expanded version includes in-depth sections on defining needs and the search process, developing the candidate pool, screening and interviewing candidates, finalizing the choice, and managing the transition.

"When he spoke at a Bridgestar event about what ultimately became 'Good to Great and the Social Sectors,' Jim Collins said that the journey to great nonprofit organizations starts with finding and attracting the right people. The updated version of our 'Guide to Navigating the Hiring Process' provides best practices on developing and implementing a thoughtful hiring strategy, ensuring that the process runs smoothly, and helping create the right match between an organization's needs and the people potentially interested in the position. By following the guide, which has been one of our most popular offerings, nonprofit organizations will better understand the process and execute effectively on it," said David Simms, Managing Partner, Bridgestar.

The "Guide to Navigating the Hiring Process" is being distributed via the October issue of Bridgestar's monthly newsletter, "Leadership Matters." Each month "Leadership Matters" picks a different theme designed as a conversation about how to build and sustain effective nonprofit organizations. Previous issues have offered articles on the pending leadership deficit facing the nonprofit sector, the role of the nonprofit CFO, and best practices in performance reviews. "Leadership Matters" is available to all Bridgestar members or, for a complimentary subscription, please email subscribe@bridgestar.org. The newsletter is part of Bridgestar's robust portfolio of offerings that include talent matching, networking (both in-person events and online), and access to content (including a Chief Operating Officer LISTSERV® that grew out of the need of nonprofit COOs to connect and share their questions and ideas).

Filled with charts, checklists, and templates, the "Guide to Navigating the Hiring Process" is organized in a step-by-step process, taking organizations from the decision to hire through to extending an offer, even to managing the transition once the candidate becomes an employee. Content includes:

Defining needs and the search process
How do you begin the process of hiring for your position? This section of the hiring toolkit provides questions to help you scope the position and write a well-constructed job description.

Developing the candidate pool
How do you develop an appropriate and diverse panel of candidates? This section discusses how to identify and reach out to networks that will help you develop an appropriately deep candidate pool.

Screening and interviewing candidates
How do you evaluate applicants? This section guides you through the process of screening resumes and interviewing candidates, with tips on topics ranging from managing a rush of applications to planning a successful interview.

Finalizing the choice
How do you close your search with a successful candidate? This section walks you through the process of checking references, extending and negotiating an offer, and saying no to those you did not choose.

Managing the transition
How do you prepare your new hire for success? This section helps you think through how to integrate your new hire into the organization to ensure a smooth transition.

The current issue of "Leadership Matters" is available at:
http://www.bridgestar.org/Resources/Newsletters/2006/October2006.aspx.

About Bridgestar
Bridgestar, an initiative of the Bridgespan Group, is a nonprofit organization providing talent-matching services, content, and tools designed to help organizations build strong leadership teams and individuals pursue career paths as nonprofit leaders. Bridgestar's goal is to attract, connect, and support senior talent, leading to greater organizational effectiveness and social impact.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Offers five drivers of better performance

oston, MA -- (ReleaseWire) -- 09/07/2006 -- Nonprofit board members were once thought to be effective if they donated funds or services, or persuaded others to donate, at a certain level to the organization. According to research conducted by the Bridgespan Group in collaboration with the Edna McConnell Clark Foundation, fundraising is still important, but it is no longer sufficient to help organizations deal with growing needs, challenges, and regulations confronting the sector.

Insights from the research appear in the September issue of "Leadership Matters." Published by Bridgestar, a nonprofit initiative of the Bridgespan Group dedicated to attracting, connecting and supporting senior leaders for the sector, the current "Leadership Matters" discusses key steps board can take improve effectiveness.

Many boards take a "checklist" approach to ensure they are meeting their minimum oversight responsibilities such as oversight of the executive director, financial health and controls and legal activities such as independent audits.

"But oversight alone is not sufficient to create an effective board," notes David Simms, Managing Director, Bridgestar. "Instead, the Bridgespan team found that how the board does its work is as important as what it does. By evaluating the five critical factors discussed in detail in the current 'Leadership Matters' – people, culture, decision-making processes, information flows, and structures – organizations can bring clarity to what they need from their boards, and what each board member can provide, based on his or her skills and interests. The article notes that the solution for how to become a more effective board will generally be different for each organization because each of those factors vary widely from one organization to the next. But addressing those five factors will help answer questions about how to choose the 'right' approaches for each organization."

The current issue of "Leadership Matters" is available at:
http://www.bridgestar.org/Learning/Newsletters/2006/September2006.aspx.

Subscriptions are available to all Bridgestar members. For a complimentary subscription, please email subscribe@bridgestar.org. In addition to the report, the issue includes an article, "The Effective Board: A Detailed Guide."

Each month "Leadership Matters" picks a different theme designed as a conversation about how to build and sustain effective nonprofit organizations. The newsletter is available to Bridgestar members or, for a complimentary subscription, please email subscribe@bridgestar.org. In addition, Bridgestar offers a robust portfolio of offerings to help both nonprofit organizations and senior leaders make meaningful, appropriate matches. Bridgestar sponsors monthly "Bridging to the Nonprofit Sector" seminars designed for senior leaders in the private sector who are considering switching to the nonprofit sector, offers recruiting services, a job board, board-matching services and a Chief Operating Officer LISTSERV® that grew out of the need of nonprofit COOs to connect and share their questions and ideas.

About Bridgestar
Bridgestar, an initiative of the Bridgespan Group, is a nonprofit organization providing talent-matching services, content, and tools designed to help organizations build strong leadership teams and individuals pursue career paths as nonprofit leaders. Bridgestar's goal is to attract, connect, and support senior talent, leading to greater organizational effectiveness and social impact.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Report is designed to inform both hiring organizations and job candidates

Boston, MA -- (ReleaseWire) -- 07/24/2006 -- In this era of increased scrutiny of nonprofit organizations' financials and performance, higher accountability to the public trust, and the rapid growth and increased complexity of individual organizations in the sector, many nonprofits are focusing on the chief financial officer (CFO) function in their organizations. According to Bridgestar, a nonprofit initiative of the Bridgespan Group dedicated to attracting, connecting and supporting senior leaders for the sector, the challenge for hiring organizations and job candidates alike is to understand the roles, responsibilities and challenges for the position.

In the July issue of "Leadership Matters," its monthly newsletter that picks a different theme designed as a conversation about how to build and sustain effective nonprofit organizations, Bridgestar has published a detailed State of the Nonprofit CFO, based on surveys, in-depth interviews, and focus groups with nonprofit leaders. The report found patterns among CFOs of similarly sized organizations across the country, in terms of the roles and responsibilities of the CFO, major challenges, and keys to success.

"Bridgestar's survey found that CFOs' responsibilities can widely differ, based on an organization's size, budget and years of operation, with many handling non-finance functions. That's why the position is often known as Chief Fixit Officers," says David Simms, Managing Director, Bridgestar. "Nonprofits find that CFOs play an extremely important role, contributing to the organizations' ability to accomplish their missions and achieve future viability. In this month's 'Leadership Matters,' we set out to explain the position better in order to help organizations and job candidates be more successful. We hope that our findings will help organizations structure their leadership teams more effectively."

According to Bridgestar, which provides talent-matching services specifically for senior management roles, including a free job board, and content and tools, individual CFOs represented a diversity of backgrounds, education, and tenures. Many, especially those in mid-sized to larger nonprofits, have worked in the for-profit sector and "bridged" into the nonprofit sector within the last 10 years; only a handful of CFOs were "homegrown" in the nonprofit sector. A large majority of the CFOs interviewed have their Master in Business Administration (MBA) degrees while only a quarter are Certified Public Accountants (CPAs).

In terms of responsibilities, when organizations with budgets under $10 million did have CFOs, they tended to wear a lot of hats, such as finance (including budgeting, cash flow, and accounting), IT, legal, HR, administration and operations including facilities – giving them more in common with COOs. In contrast, CFOs organizations with budgets over $40 million were more likely to focus exclusively on the finance function.

Given the mission of their organizations and the resource constraints nonprofits often face, CFOs told Bridgestar that one of the top challenges they face, especially those who come from the for-profit sector, is dealing with some of the ways in which the nonprofit sector operates. For example, having a positive bank balance doesn't mean an organization is solvent or can use the money any way it needs to because restricted gifts must be used for specific purposes. CFOs may find themselves telling their staffs to cut back in one area while urging their staffs to spend in other areas or lose funding.

For those CFOs who "bridged" to the nonprofit sector, challenges included the consensus-driven culture, dealing with multiple stakeholders, working with non-financially oriented staff, and figuring out how to measure success in a culture that emphasizes mission over the financial bottom line.

Based on this research, Bridgestar found that the success of the CFO is dependent on conditions in two important areas: the mindset and skills of the CFO, and the level of support for the CFO position within the nonprofit organization. Additional success factors include:

• Competent – Good solid accounting skills and background, nuts and bolts experience in the operations of a business and/or nonprofit, a strategic thinker with a big-picture mentality.
• Committed – Passionate about the mission of the organization and understands the realities of the nonprofit sector.
• Communicative – Able to speak in non-financial language, can translate and teach financial literacy, relates well to the board of directors and multiple stakeholders, and is a strong writer and communicator.
• Creative – Flexible, thinks outside the box, figures out how to say "yes" and make things possible!

The current issue of "Leadership Matters," which includes more detailed findings, is available at:
http://www.bridgestar.org/Learning/Newsletters/2006/July2006.aspx. Subscriptions are available to all Bridgestar members. For a complimentary subscription, please email subscribe@bridgestar.org.

About Bridgestar
Bridgestar, an initiative of the Bridgespan Group, is a nonprofit organization providing talent-matching services, content, and tools designed to help organizations build strong leadership teams and individuals pursue career paths as nonprofit leaders. Bridgestar's goal is to attract, connect, and support senior talent, leading to greater organizational effectiveness and social impact.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Only Russian Outsourcing Company to Make the List

New York, NY -- (ReleaseWire) -- 07/24/2006 -- Luxoft – Russia's leading provider of end-to-end information technology services and solutions – was the only Russian outsourcing company to make the Top 50 Best Managed Global Outsourcing Vendors 2006. The list, compiled from a list of 872 outsourcing vendors in 63 countries, is based on an extensive survey that evaluated leadership impact, influence, management performance, client satisfaction, employee satisfaction, and organizational excellence.

"Luxoft's solid growth, performance, and strong customer retention rate helped place the company on the list of the world's best outsourcing vendors," said Doug Brown, president, the Brown-Wilson Group, an outsourcing management consulting firm and publishers of The Black Book of Outsourcing. "Customers, employees, buyers, contractors and user's worldwide gave Luxoft high marks in all four survey areas."

The ranking is one of several that have Luxoft has received in 2006. The company has been named one of 35 Rising Stars on the 2006 Global Outsourcing 100 list, the first-ever ranking of the world's top outsourcing service providers by the International Association of Outsourcing Professionals (IAOP), and was based on a variety of factors including customer experience. Luxoft was also named to the Global Services 100 list of the world's most innovative business and technology service providers by Global Services magazine.

Luxoft was also the only Russian company selected as a finalist for several industry awards, including the National Outsourcing Association's Offshoring Operation of the Year, and three Best of Class Categories awards at Gartner's Global Sourcing Summit. In January, based on ranking input from Gartner Inc., Luxoft was named by BusinessWeek as the top emerging outsourcing provider among the companies from Russia and Eastern Europe.

"The industry is recognizing what our existing clients already know: Luxoft provides exceptional value. This Top 50 Ranking is a tribute to our people and processes," said Dmitry Loschinin, President and CEO, Luxoft. "We bring a rigorous discipline and deep understanding of our clients' goals and needs to deliver high quality, industrial-strength software applications and solutions. We devote considerable efforts to hiring and growing the best people in the industry. While doubling our employee pool every year since the company's inception, we have been able to keep the attrition well below industry average while maintaining uncompromising focus on quality controls. The result: an extremely high client retention rate of 90 percent that served as a key factor in making this list."

About Luxoft

Luxoft, founded in 2000, is a global software developer and IT services exporter with operations in the US, UK, Ukraine and Russia. Luxoft has the world's largest delivery capabilities in Russia and CIS.

Luxoft provides a full range of custom software development services and enjoys long-term relationships with clients including some of the best-known global business leaders, such as Boeing, Deutsche Bank, IBM and Dell. Luxoft also works closely with many mid-size growth companies and independent software vendors (ISVs).

Luxoft's software development processes meet the highest quality standards, and the company was the first in Europe to achieve Level 5 CMMI quality certification. Luxoft runs research and offshore development centers in Moscow, St. Petersburg, Dubna, Omsk, as well as in Kiev and Odessa, Ukraine.

For additional information please visit our site at www.luxoft.com.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Boston, MA -- (ReleaseWire) -- 06/08/2006 -- When nonprofit organizations look to hire new Executive Directors, they often look at people who held the number-two position, whether internally or at another organization. While responsibilities for any role vary significantly across organizations, these variations pale in comparison to the substantive gap between that of Executive Director and COO. The transition to Executive Director can be challenging, whether the COO has been promoted internally or has been recruited from another organization, because the position's focus is external (compared to the COO's internal focus) and the emphasis on strategy (rather than execution). Those promoted from within face an additional challenge: having to form new relationships with colleagues who formerly had been peers.

According to interviews conducted by Bridgestar, and published in the June issue of "Leadership Matters," individuals and organizations need to work together to make the transition successful. A nonprofit initiative of the Bridgespan Group dedicated to attracting, connecting and supporting senior leaders for the sector, Bridgestar provides talent-matching services specifically for senior management roles, including a free job board, content and tools, and a COO LISTSERV® that grew out of the need of nonprofit COOs to connect and share their questions and ideas. Leadership Matters" is a monthly newsletter that picks a different theme designed as a conversation about how to build and sustain effective nonprofit organizations. It is available to Bridgestar members (or, for a complimentary subscription, please email subscribe@bridgestar.org).

"Ten years ago, Executive Directors were responsible for developing and executing strategy, and you didn't typically see Chief Operating Officers in the sector. More recently, the sector has embraced the need for COOs to manage day-to-day aspects of nonprofit organizations as they grow, and because of mounting pressure on Executive Directors to focus on strategy development, fundraising and communicating the organization's vision," says David Simms, Managing Director, Bridgestar. "As a generation of leaders retires, or when an Executive Director simply transitions to another organization or role, a COO can be a great candidate, especially if they and the organization understand how to make a successful transition."

The preparation to transition can start while the executive is still in the COO role, when there is ample opportunity to build skills and seek opportunities to demonstrate leadership beyond managing operations, in areas such as fundraising, communications, and vision setting. Christina Severin, a COO-turned-CEO, took on leadership roles so that when she was promoted, everyone in her organization was prepared: "Because of everything we had done along the way, when the announcement came out, people from the senior leadership team to the front-line staff said, 'Of course it's her, she'll be good at that."

In internal transitions, the new Executive Directors needs to communicate clearly how his or her role has changed, especially for colleagues accustomed to old ways of thinking. According to Pine Street Inn's Executive Director, Lyndia Downie, "Setting ground rules early on about what wasn't gong to be in my purview any more was important…I spent a lot of time with the program staff transitioning them to the new Vice President." Setting new ground rules is a good idea for COOs-turned-Executive Directors, too, since typically they find their new roles to be less concrete, more big-picture, and could be prone to micromanage otherwise.

This issue also includes a case study of how Sandra Timmons, the COO of Girls Inc. became Chief Executive of A Better Chance. In addition, there is advice for COOs who prefer to be "career COOs" – who love making organizations run well and are less interested in fundraising and external affairs. The challenge is to continue their career growth and remain engaged in their work; the solution may be to move to larger, more complex organizations or to an organization with a structure that gives the COO more responsibilities.

The current issue of "Leadership Matters" is available at:
http://www.bridgestar.org/Learning/Newsletters/2006/June2006.aspx.

About Bridgestar
Bridgestar, an initiative of the Bridgespan Group, is a nonprofit organization providing talent-matching services, content, and tools designed to help organizations build strong leadership teams and individuals pursue career paths as nonprofit leaders. Bridgestar's goal is to attract, connect, and support senior talent, leading to greater organizational effectiveness and social impact.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Boston, MA -- (ReleaseWire) -- 03/15/2006 -- Given a projected need for as many as 640,000 new nonprofit leaders by 2016, the March issue of "Leadership Matters" offers insight into the issue along with three steps the sector must take to address the problem.

According to Tom Tierney, Chairman and Co-founder of the Bridgespan Group and author of "The Nonprofit Sector's Leadership Deficit," the nonprofit sector faces the challenge of developing leadership, the result of huge growth in the number of nonprofit organizations and the substantial number of baby boomers expected to retire over the next decade. An additional problem is that very few nonprofits have the resources to develop leaders internally.

Published by Bridgestar, a nonprofit initiative of the Bridgespan Group dedicated to attracting, connecting and supporting senior leaders for the sector, "Leadership
Matters" is part of a robust portfolio of offerings to help both nonprofit organizations and senior leaders make meaningful, appropriate matches. Each month "Leadership Matters" picks a different theme designed as a conversation about how to build and sustain effective nonprofit organizations. The newsletter is available to Bridgestar members or, for a complimentary subscription, please email subscribe@bridgestar.org.

In addition, Bridgestar's job board has listed more than 400 senior positions from around the United States and across a range of service areas including the environment, human services, elder services, human rights, and youth services. The organization has assisted more than 50 organizations in finding new leaders through its talent-matching services, which include executive recruiting and related advisory activities.

Calling the leadership deficit the greatest challenge facing the sector over the next 10 years, Tierney urges the philanthropic community to invest for the future in supporting capacity-building efforts, spend time creating succession plans and developing younger leaders, and change prevailing practices.

According to Tierney, the sector must take three critical steps:
1. Invest in leadership capacity – even if it means directing a greater proportion of funding for "overhead."
2. Refine management rewards to retain and attract top talent – by offering more competitive management packages (particularly as managers are held to higher performance standards).
3. Expand recruiting horizons and foster individual career mobility – reaching out to baby boomers who wish to continue working, mid-life career changers seeking greater social impact and the young. Ensuring career mobility for up-and-comers is essential if the sector is to retain its best performers.

The current issue of "Leadership Matters" is available at:
http://www.bridgestar.org/Learning/Newsletters/2006/March2006.aspx.

"Addressing the potential leadership deficit will require significant changes in attitudes and processes for the entire sector. By starting now, before we hit crisis levels, we can prepare for and make the necessary changes," says David Simms, Managing Director, Bridgestar. "The nonprofit sector is playing an increasingly important role in social services, elder and youth care, K-12 education, the arts and the environment. Nonprofit executives and the philanthropic community must develop a long-term focus to ensure the sector that so many millions count on will survive."

About Bridgestar
Bridgestar, an initiative of the Bridgespan Group, is a nonprofit organization providing talent-matching services, content, and tools designed to help organizations build strong leadership teams and individuals pursue career paths as nonprofit leaders. Bridgestar's goal is to attract, connect, and support senior talent, leading to greater organizational effectiveness and social impact.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Boston, MA -- (ReleaseWire) -- 03/09/2006 -- With nonprofit organizations increasingly doing the work required to fulfill our desire for a civil, compassionate, and well-functioning society, the ability to attract, recruit, and retain qualified leadership is a key variable in realizing their missions. Many organizations already struggle to do so, but the problem is likely to become more acute over the next decade.

In a new study issued today by The Bridgespan Group, a nonprofit organization applying leading-edge management strategies, tools and talent to help other nonprofits and foundations achieve greater social impact, author Thomas J. Tierney predicts that organizations will need to attract and develop some 640,000 new leaders over the next decade—the equivalent of 2.4 times the number currently employed. This translates to as many as 80,000 new senior leaders per year.

In a plenary speech before the Grantmakers for Effective Organizations at their national conference, Tierney, Chair and Co-founder of the Bridgespan Group, noted that "the amount of social impact a nonprofit organization delivers is primarily dependent upon the capability and performance of the people in that organization … results are a 'who thing' … no principle is more fundamental." He called upon grantmakers to "aggressively address [the challenge of recruiting and retaining leaders lest] the effectiveness of nonprofit organizations decline, undermining the social results expected from grants."

According to the white paper, "The Nonprofit Sector's Leadership Deficit," the prediction is actually a conservative estimate. If the sector were to experience significant consolidation and lower-than-forecast turnover rates, the number of leaders required might fall as low as 330,000. On the other hand, given historic trends, the total need could well increase to more than one million new senior leaders.

Bridgespan's study addresses only the needs of organizations with revenues of more than $250,000, and does not include major health care organizations or institutions of higher learning, which have fairly well-established infrastructures for developing and recruiting new leaders, including access to national executive search firms. According to Tierney, the leadership deficit is aggravated by the sector's overall lack of intermediaries to help in recruiting and developing managers. The sector also lacks robust management-education and significant executive-search capabilities.

The reasons for the deficit are complex, and the solutions will require cooperation and collaboration among organizations, boards, funders, donors, and government, said Tierney. Sector growth, the substantial number of baby boomers expected to retire over the next decade, and the lack of internal resources to develop leaders are all contributing factors, as is the lack of career mobility for current leaders. The growing need for new functional expertise, particularly in finance, operations and marketing, also plays a significant role and will continue to do so.

The paper proposes that all concerned explore opportunities to

• Invest in leadership capacity. Nonprofits must invest in building skilled management teams—even if that means directing a greater proportion of funding to overhead. Philanthropy must deliver the operating support required, and boards must reinforce the importance of building management capacity and quality.

• Refine management rewards to retain and attract top talent. Organizations must structure more competitive management packages, particularly in light of the push to hold managers to higher performance standards, and boards must support these efforts. "No business looking to deliver strong results would intentionally under-invest in the leadership team accountable for delivering those results."

• Expand recruiting horizons and foster individual career mobility. Recruitment efforts should expand to new pools of potential leadership talent, including baby-boomers who wish to continue working, mid-life career changers seeking greater social impact, and the young. At the same time, the sector will need to strengthen and expand its mechanisms for attracting and developing managers and enabling talent to flow freely throughout the sector. This is especially important for enhancing the diversity of the leadership pool.

Fourteen nonprofit and business leaders offered perspectives on the Leadership Deficit in a set of commentaries appended to the paper. Jim Collins, author of "Good to Great" and the new monograph "Good to Great and the Social Sectors," suggests that "the number one constraint on effective growth of the nonprofit sector is not funding and other support, but the ability to attract, retain and develop enough of the right leaders." Kathleen P. Enright, Executive Director of Grantmakers for Effective Organizations, calls for philanthropic investments that are "Collective … continuous … [and] contextual," noting that foundation interest in and support for leadership development is growing. Jon Schnur, CEO and Co-founder of New Leaders for New Schools, offers a wide range of action items to address the deficit, including a fellowship program to recruit and train new leaders and managers for social enterprises and the creation of a $500 million foundation dedicated to helping the "top, scalable nonprofits attract, train and retain top executives."

"Bridgespan hopes that this paper will focus more attention on the crucial issue of leadership in the sector," said Jeffrey L. Bradach, Bridgespan Group Managing Partner and Co-founder. "As we ask nonprofits to do more, we need to support the development of current leaders in the field and find ways to attract more leaders into the sector. Addressing many of society's most critical issues—such as housing, homelessness, global warming, education—depends on the work of nonprofit organizations, but without a focus on leadership their ability to be effective is limited."

"The Nonprofit Sector's Leadership Deficit," including the 14 commentaries and the financial model, can be found at http://www.bridgespangroup.org/kno_articles_leadershipdeficit.html and at www.leadershipdeficit.org.

About Bridgespan
The Bridgespan Group (www.bridgespan.org) is a nonprofit, 501(c)(3) organization applying leading-edge management strategies, tools and talent to help other nonprofits and foundations achieve greater social impact. Established in 2000 and incubated at Bain & Company, Bridgespan works to build a better world by strengthening the ability of nonprofit organizations to achieve breakthrough results through three main activities: strategy consulting; knowledge-sharing; and talent-matching, through its Bridgestar initiative.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Boston, MA -- (ReleaseWire) -- 03/04/2006 -- Bridgestar, a nonprofit organization attracting, connecting, and supporting leadership for the nonprofit sector, announced today that Cydnee Dubrof and Jengie Pineda have joined the organization's talent-matching team as Regional Director of Talent and Recruitment and Search Consultant, respectively. They are responsible for business development and direct service to nonprofit organizations seeking advisory or executive recruiting services.

Dubrof joins Bridgestar from Morgan Howard Worldwide, where she recruited senior leaders for both for-profit and nonprofit organizations. A graduate of Tufts University, she is a Certified Public Accountant and began her career at Coopers & Lybrand, where she also managed the Atlanta community relations function before transitioning to the search industry. She has more recently held recruiting positions at Egon Zehnder and Korn Ferry.

Pineda was most recently at Isaacson Miller, where she was a Senior Associate directly responsible for candidate research and identification, search strategy development, candidate recruiting, and client and candidate relationships within the higher education and human services domains. Prior to Isaacson Miller she was an associate with the Nonprofit/Education Practice at Heidrick & Struggles, focusing on searches in higher education, foundations, human services, and cultural arts.

Dubrof will initially work with Bridgestar executive recruiting clients in Boston and Washington, DC, and with advisory services clients nationwide. Pineda will focus on the New York metro area.

"We are delighted to welcome Cydnee Dubrof and Jengie Pineda to Bridgestar," said David Simms, Bridgestar Managing Partner. "We are fortunate to have attracted two very accomplished search professionals, both with passion for the nonprofit sector and a commitment to service. With demand for senior nonprofit leaders escalating, we feel that our team – Kathleen Yazbak-Chartier, Janet Albert, Karen DeMay, Dana O'Leary, Cydnee and Jengie – is well positioned to support organizations that want to strengthen their leadership teams and achieve greater social impact."

About Bridgestar
Bridgestar (www.bridgestar.org), an initiative of the Bridgespan Group, is a nonprofit organization providing talent-matching services, content, and tools designed to help organizations build strong leadership teams and individuals pursue career paths as nonprofit leaders. Our goal: to attract, connect, and support senior talent, leading to greater organizational effectiveness and social impact.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Boston, MA -- (ReleaseWire) -- 02/13/2006 -- Comparing greatness in the social sector versus the private sector is a challenge because the nature of leadership is vastly different, says Jim Collins, best-selling author of Built to Last and Good to Great and the recently published monograph, "Good to Great and the Social Sectors: A Monograph to Accompany Good to Great" (Collins, Nov. 30, 2005).

In an exclusive Q&A session in the current issue of Leadership Matters, Collins explains the distinction between "executive" leadership found more in business and "legislative" leadership found more in the social sectors. "In business, a single individual often has enough concentrated power to simply make executive decisions. Sam Walton could make decisions for Wal-Mart… after all, it was his company. In the social sectors, composed of a much more complicated governance and power structure, rarely do we find a single individual – not even the nominal chief executive – with enough concentrated power to make the big decisions by himself or herself."

Instead, Collins observes, executive directors "must architect the conditions for the right decisions to happen, through the power of language, and coalition, and shared interests, and artful persuasion; it's more like being Lyndon Johnson in the Senate, where you are but one of a hundred Senators, and if you try to 'lead the Senate' like a corporate CEO, you will fail."

Published by Bridgestar, a nonprofit initiative of the Bridgespan Group dedicated to attracting, connecting and supporting senior leaders for the sector, "Leadership Matters" is part of a robust portfolio of offerings to help both nonprofit organizations and senior leaders make meaningful, appropriate matches. Each month "Leadership Matters" picks a different theme designed as a conversation about how to build and sustain effective nonprofit organizations. The newsletter is available to Bridgestar members or, for a complimentary subscription, please email subscribe@bridgestar.org.

In addition, Bridgestar's job board has listed more than 400 senior positions from around the United States and across a range of service areas including the environment, human services, elder services, human rights, and youth services. The organization has assisted more than 50 organizations in finding new leaders through its talent-matching services, which include executive recruiting and related advisory activities.

According to Collins, greatness "starts with creating a culture of discipline, composed first and foremost of the right people. Discipline characterizes greatness, across many fields – great artists, great musicians, great Buddhist monks, great schoolteachers, great sports teams, great medical institutions, great police departments and great nonprofits. Discipline is not a business idea; it is a greatness idea."

In the interview, Collins suggests that "the social sectors might best operate by a resource engine composed of three components: 'time' (how well you attract people willing to contribute their efforts for free, or at rates below what their talents would yield in business), 'money' (sustained cash flow), and 'brand' (how well your organization can cultivate a deep well of emotional goodwill and mind-share of potential supporters)."

The key, he says, is to "be rigorous, not ruthless. To be ruthless means hacking and cutting, especially in difficult times, or wantonly throwing people off the bus without any thoughtful consideration. To be rigorous means consistently applying exacting standards."

The current issue of Leadership Matters is available at:
http://www.bridgestar.org/Learning/Newsletters/2006/February2006.aspx.
Collins also spoke at a special Bridgestar community event, where he previewed "Good to Great and the Social Sectors." Detailed highlights of Collins' presentation are available in the January 2005 issue of "Leadership Matters," available online at
http://www.bridgestar.org/Learning/Newsletters/2005/January2005.aspx.

"Bridgestar was founded on the idea that strong organizations are built by strong leadership teams, and on a mission to provide services, content and tools to help organizations recruit, hire and support leaders," says David Simms, Managing Director, Bridgestar. "Jim Collins brings great insight into how discipline can help nonprofit organizations achieve greatness. Too many people look at the percentage spent on management and overhead without realizing that it takes work to transform nonprofit organizations into great organizations, that organizations need to allocate resources on training to attract and support the right people."

About Bridgestar
Bridgestar, an initiative of the Bridgespan Group, is a nonprofit organization providing talent-matching services, content, and tools designed to help organizations build strong leadership teams and individuals pursue career paths as nonprofit leaders. Bridgestar's goal is to attract, connect, and support senior talent, leading to greater organizational effectiveness and social impact.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm