You don’t just marry your spouse; you marry a family. The same holds true in corporate mergers and acquisitions. You don’t just buy a company, you acquire their culture, risk, and future potential of both. And just like in a marriage, some things don’t come to the surface until that third or fourth family reunion.
As an Executive Director, there are many different areas that need your attention on a daily basis: strategic direction, fundraising, stakeholder engagement, employee and volunteer management, media relations and grant applications, just to name a few.
With all of these factors to manage, keeping up with changes in legal compliance and CRA requirements may not be perceived as a top priority. However, failing to pay attention to compliance can leave your organization vulnerable to the risk of financial penalties and have a negative impact on your reputation.
I want to highlight a couple of recent issues you may want to consider.
In the name of transparency and building public confidence in the local police force, Dallas police chief David O. Brown has begun posting announcements of staff terminations and demotions on the social networking services Twitter and Facebook. Chief Brown is surely blazing a trail with the controversial practice, but it remains to be seen whether others will follow—or if it's even legal...