Three hints for helping your organisation through the financial crisis

The current economic climate is forcing both commercial and NFP organisations to rethink existing strategies and look at ways of cutting costs and/or increasing efficiency. Here are a few tips we have learnt over our 20 years that may help your organisation through these difficult times.

Collaborate with other kindred organisations to:

• investigate joint funding opportunities;
• make use of bulk purchasing discounts;
• meet with other executives and learn valuable lessons about their experiences;
• join together to increase your lobbying power to influence policy; and
• undertake joint projects to divide and/or reduce costs.

Look at your organisation's effectiveness and efficiency

Examine your organisation’s income. If your income is diverse and doesn’t rely solely on donations or membership fees, you will find it easier to ride out the storm. One of the first places both corporates and individuals can look to cut back in an economic downturn are on donations and membership fees.

Investigate what other ways your organisation can look at providing goods and services to your constituents. What are you doing that could be done better? What could be expanded? Are there any (potentially very costly) things you’re doing just because you’ve always done them? Can an investment in technology save you valuable staff time?

Examine your relationships closely. Now may be a good time to survey your stakeholders on what they actually want from your relationship. Conduct a member / stakeholder / donor survey to rate your current performance and discover any perceived gaps in the market. Electronic survey software is readily available on the internet at competitive prices.

Make better use of volunteer resources

A recent survey by the Stanford Social Innovation Review found that many American NFP organisations were not making adequate use of their volunteer resources. The review found that organisations which took the time to match volunteers to appropriate tasks had happier volunteers, and got better value from those volunteers, than those which allocated tasks randomly.

Take the time to talk to your volunteers and find out where their skills and interests lie. A volunteer who enjoys their work will be more likely to return, and will contribute more to your organisation.

Many corporations are now also initiating social responsibility programs to attract the socially conscious Generation Y employees. Approach businesses to see if they will offer their employees time pro-bono and take advantage of these skills.

You may also like to consider taking on a student. Students will find the experience your organisation offers invaluable for their training, and they may just teach you something new!

For more resources on improving the performance of your organisation, visit the Enterprise Care website at http://www.enterprisecare.com.au/.