Risk and resourcing challenges
Being able to adapt to some expected and some unexpected challenges is essential to your organisation succeeding.
After the last few years of challenges, not for profits have never been under so much pressure – rising interest rates, increasing costs, inflation and the cost of living crisis are only adding to this – particularly for charities who are seeing an increase in the demand for their services.
Our third annual not for profit leaders report on strategic planning provides leaders with insights on better practice for developing and reviewing their plan to ensure they are managing their risk and meeting the goals of their organisation.
Some of the report highlights include:
- Two-thirds of organisations have seen an increase in the need for their services in the last 12 months
- 88 percent of respondents are concerned about a cyber-attack on their organisation
- Remuneration is the number one human resource challenge for organisations
- 84 percent predicting an increase in the demand for their services over the next 12 months
- Loss of reputation and employee resourcing are the biggest organisational risks.
The report provides guidance on:
- Strategic planning insights
- The importance of accurate forecasting in your planning process
- Understanding cyber risks and what you can do to protect your organisation
- What technology is right for your organisation
- Governance & risk management controls you should have in place
- How to future-proof your organisation
- How to access our Exclusive Not for Profit Community to network and collaborate with key NFP sector leaders.
How HLB can help
We work with not for profits, specialising in strategic planning, business transformation and financial management, mergers & acquisitions, risk analysis including governance and cyber. We provide:
- Technical briefings
- Thought leadership, webinars and presentations
- Quarterly not for profit publication
- Annual Strategic Planning & Financial Management survey and report
- The Exclusive Not For Profit Community (ENFP)
Learn more about our not for profit expertise.
Key findings
A 'perfect storm'
The rising cost of living has seen an increase on demand for services while consumers are tightening their belts whether it be through cancelling professional memberships or a reduction in charitable donations. The ongoing economic volatility has placed even more strain on not for profits as they face greater demand for their services, disruption of operations due to labour shortages and uncertainty over funding.
Staffing & economic environment
We asked what the barriers were to the organisation achieving its strategic goals. The top two responses were staffing and the economic environment. These findings reflect the macro environment facing most organisations. It is unlikely these issues will be resolved in the short term.
AI & automation
57 percent of survey respondents anticipated they would be impacted by AI and automation in the future. Investment in technology is priority for not for profit organisations with most looking to increase their spend in the next three years.
Data risk & cyber security
Not for profits are increasingly becoming aware of potential cyber-attacks.
66 percent of survey respondents said protecting client/member information was their primary concern. However it was positive to see that 75 percent of respondents are providing cybersecurity training to employees.
