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Executive Director
In Everybody Dies But Not Everybody Lives, rapper and spoken word artist Prince Ea challenges us to be open to risk-taking: “There was a study done, a hospital study on 100 elderly people. Facing death, close to their last breath they were asked to reflect about their life’s biggest regret… Nearly all of them said they regretted not the things they did but the things they didn’t do… The risks they never took. The dreams they didn’t pursue.”
In our consulting work, the NRMC team often encounters leaders who regret the slow adoption of sound risk management practices in their organizations. These same leaders are sometimes shy about making bold changes in their approaches, preferring to tweak rather than transform their risk functions.
In the day-to-day life of a nonprofit organization, challenges are ever-present. Meeting budget targets, improving staff retention rates, satisfying perpetually grumpy or demanding stakeholders—it’s all in a day’s work. Even when mistakes are made (“but not by me!”), at least you tried. So this week I’m reflecting on taking risk without regret.
Live by these tenets to take more risks that you won’t regret.
“I subscribe to the school of thought that culture manifests from how we think. And how we think influences how we behave. And our culture needs to adapt to the internal and external shifts.
So if you look at all great companies, no chance they have the same culture that they had, you know, in a previous growth period or a previous regulatory environment… So of course a company needs a different culture at 15,000 people than it does at 3,000 people. …[W]e did not give enough attention as we were growing to things like culture. It is now on everyone’s mind.”
In Everybody Dies But Not Everybody Lives, Prince Ea gripped me with a question he posed: “I ask you, will your last words be ‘If only I had…’?” You still have time to turn future regrets into reality. If risk-taking without regret rings true to you, I invite you to join NRMC’s Fall 2017 cohort of the Risk Leadership Certificate Program. Risk visionaries can apply here.
Melanie Herman is Executive Director of the Nonprofit Risk Management Center. She welcomes your feedback on this article or your questions taking risk without regrets at Melanie@nonprofitrisk.org or 703.777.3504.
“First let me congratulate you on a conference well done. I had a great time at the Nonprofit Employee Benefits Conference and walked away with some valuable tools and questions that we’ll need to be addressing in both the short and long term. Thanks to you and your staff for all you do to provide us with quality resources in support of our missions.”
“BBYO’s engagement of NRMC to conduct a risk assessment was one of the most valuable processes undertaken over the past five years. Numerous programmatic and procedural changes were recommended and have since been implemented. Additionally, dozens (literally) of insurance coverage gaps were identified that would never have been without the work of NRMC. This assessment led to a broker bidding process that resulted in BBYO’s selection of a new broker that we have been extremely satisfied with. I unconditionally recommend the Center for their consultative services.
“Melanie Herman has provided expert, insightful, timely and well resourced information to our Executive Team and Board of Directors. Our corporation recently experienced massive growth through merger and the Board has been working to better integrate their expanded set of roles and responsibilities. Melanie presented at our Annual Board of Director’s Retreat and captured the interest of our Board members. As a result of her excellent presentation the Board has engaged in focused review which is having immediate effects on governance.”
“The Nonprofit Risk Management Center has been an outstanding partner for us. They are attentive to our needs, and work hard to successfully meet our requests for information. Being an Affiliate member gave us access to so many time- and money-saving resources that it easily paid for itself! Nonprofit Risk Management Center is truly a valued partner of The Community Foundation of Elkhart County and we are continuously able to optimize staff time with the support given by their team.”
“The board and staff of the Prince George’s Child Resource Center are extremely pleased with the results of the risk assessment conducted by the Nonprofit Risk Management Center. A thorough scan revealed that while we are a well run organization, we had risks that we never imagined. We are grateful to know that we have now minimized our organizational risks and we recommend the Center to other nonprofits.”
Great American Insurance Group’s Specialty Human Services is committed to protecting those who improve your communities. The NRMC team has committed to delivering dynamic risk management solutions tailored to nonprofit organizations. These organizations have many and varied risk issues, hence the need for specialized coverage and expert knowledge for their protection. We’ve had Melanie speak on several occasions to employees and our agents. She is always on point and delivers such great value. Thank you for the terrific partnership and allowing our nonprofits to focus on their mission!
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