Of all the findings that have emerged from our latest Not for Profit sector survey, one stands out; in today’s ever evolving business environment, NFPs on both sides of the Tasman are intrinsically striving to develop and maintain professional standards in how they manage, operate and govern their enterprises.
Some of the key discoveries revealed in the report include:
- Finding regular, new and innovative ways to generate funding and revenue is still a major challenge. New Zealand organisations in particular are struggling to find regular sources of funding when compared to their Australian counterparts, and organisations on both sides of the Tasman are finding it increasingly difficult to find new and innovative funding opportunities.
- There is still a lot of room for improvement for NFPs to effectively address business risk to ensure the continuing viability of their organisations. Over a third of organisations surveyed don’t have a risk management plan in place.
- With the rise of disruptive technologies affecting the way business is conducted, NFPs are embracing the move to technology in a number of key areas; a staggering 71% of organisations surveyed expect to invest in websites, social media and other digital platforms in the next two to three years.
- The challenge of motivating and retaining good employees and volunteers remains prevalent in the sector. Career limits and work pressures are cited as the main reasons for losing both employees and volunteers across all organisations surveyed.