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From: Margie Fleming Glennon
Subject: How Pay Transparency Is Affecting Executive Searches
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In recent years many states have passed laws requiring salary ranges to be included when organizations publicize job openings. “Because the rules are changing quickly, foundation and nonprofit board members who are serving on search committees for new leaders must make sure they are aware of the laws in their states and localities before starting a new search,” writes Vincent Robinson, founder and managing partner of the 360 Group, an executive search company that places leaders at nonprofits and foundations, in a recent advice column.
If you want candidates to take you seriously, Robinson advises sharing a realistic range for any given position. “That’s because the salary range you advertise for a position will influence who applies and whether you end up with a strong list of potential candidates,” he writes. So it’s important to benchmark against peer organizations and similar roles and nail down the most accurate range before sharing a listing.
Robinson recommends striking a balance: too wide a range of possible compensation “offers little guidance and is likely to ensure disappointment for all but the most impressive candidates. Conversely, an overly narrow range can be limiting by sending the message to exceptional candidates that there’s not much room for negotiation.”
Robinson goes into more detail about how to determine a fair level of compensation as well as a realistic and practical salary range. Read Pay Transparency Changes the Game for Equity — and Executive Searches to get more valuable guidance.
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Nonprofit Adviser will be taking a break until September 11. Until then, enjoy the final weeks of summer!
See you in September,
Margie Fleming Glennon
Senior Director, Product Strategy
Tip of the Week
In conversations with donors, a simple sentence can help you raise more money: “Our basic need is X; our dream is Y.” When an embarking on a capital or other special campaign, consider sharing a range until a critical mass of major gifts is secured, and the goal comes into focus. Stating your basic need and dream goal “covers” you if the campaign ends up on the modest side, but it still encourages donors to think big. For more examples of language to use when asking for money, read Choice Words to Advance Conversations With Big Donors.
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