05/01/2018

Plug Money Leaks

Start by taking a deep look at your organizational finances

Are you trying to figure out if your organization is needlessly losing money?

Start by taking a deep look at your organizational finances; only then can you make informed decisions about where you can cut or reduce expenses. “Once it’s clear where liabilities and insolvent costs are—electric bills, rent, payroll, etc.—leaders can determine whether they’re necessary for the operation of the organization,” writes Christian Valiulis, the chief revenue officer of APS, in a recent post for Nonprofit Hub.

Also, shine a light on your HR process and make sure your hiring process is robust. “Nonprofits must employ the right people to decrease costs associated with turnover, such as rehiring and retraining,” says Valiulis. “Having the right people starts with the recruitment and screening process.”

Please select this link to read the complete article from Associations Now.