Nothing tops talent. Your fundraising personnel are one of your organization’s most valuable assets. For too many nonprofits, however, critically important roles have become a revolving door.
Turnover has ramifications beyond the dollar cost and time spent recruiting new talent. Turnover not only impacts revenue, but also the relationship and the momentum of annual fundraising.
A recent study by CompassPoint gathered data from more than 2,700 nonprofit CEOs and chief development officers. Among the key findings:
Half of the fundraisers in the top job at their organization plan to leave their jobs within two years or less. Forty percent (40%) were not sure they would even stay in the field of fundraising.
Fifty-three percent (53%) of organizations report having difficulty finding qualified candidates to fill fundraising jobs.
At many nonprofits, the top fundraising position has been vacant for months—or even years. Some organizations essentially have given up on finding someone, particularly after multiple rounds of hiring have been unsuccessful.
Fundraisers leave because of lack of support and understanding from their organization’s leadership, burnout from the pressures of fundraising and lack of celebrating wins, and better paying opportunities.
Two simple ways to solve the fundraising talent problem:1. Improve hiring practices - from start to finish. This includes finding the right fit, paying people what they are worth and agreeing on expectations. When hiring, utilize assessments and testing, behavioral interviews, and thorough background checks to find the right person.
2. Pay competitive salaries. Investing money in fundraising is one of the smartest things you can do and above all, invest in talent. During the hiring process make sure CEOs and chief development officers delineate between goals and expectations; as they must to work together to reach consensus on setting reasonable expectations, and to make sure that there are sufficient resources and a plan in place to accomplish your goals.
Putting these two hiring practices into place will result in a long-term working relationships when combined with collaboration between your fundraisers and the rest of your staff, involving your fundraising staff in more of what you do as an organization, and your fundraising leadership in strategy and executive decision-making.
Your goal is that your fundraisers will not only stay in their jobs longer, they will likely raise more money too. Our goal at The Rayvan Group, is to help nonprofits accelerate their goals. We have the marketplace knowledge, understanding, expertise, and access to networks and relationships that are critical to succeed in recruiting top talent who are highly experienced, accomplished and personable professionals for key fundraising and chief executive leadership roles. Why not put our team to work for you?
Contact us today to see how we can help your nonprofit reach it’s goals.