The Numbers Don’t Lie
Recently The Chronicle of Philanthropy reported the results from a study of 450 nonprofits and their employment trends. 43% of participants expect to make new hires this year, but they also will face turnover as workers seek better jobs and enter retirement. This shows an improvement from last year, when only a third of nonprofits anticipated making hires.
The bad news is that only a fourth of these organizations have made a deliberate effort to actually retain the workers they have. As the job market continues to strengthen, nonprofits have to consider how to keep their most talented workers.
We have looked at building your pipeline and employee programs to retain your top talent in many of our blogs. However, there is more to consider.
34% of organizations cited an inability to offer competitive salaries as the biggest challenge to retention, while 22% said an inability to promote their high potentials was their biggest reason for losing people. While these are certainly significant factors, look back to our blogs in the Stark, Raving Mad; Let’s Hang on to What We’ve Got; and Engage Your Employees categories for some encouragement that won’t necessarily come out of your budget.