How To Keep Your Not-For-Profit Staff Happy and Motivated
People are the most important resource for organizational competitiveness. Motivating and retaining the best employees is a key task for any manager. Competition to attract and retain the best is intense and we understand the difficulty, as a not-for-profit, of competing purely on a financial basis.
Studies have shown that the cost of replacing a salaried employee can cost a manager 6 to 9 months’ salary on average. Other studies have shown that this can sky rocket to as much as twice their annual salary. E.g. to replace someone earning $40,000 a year, you can expect to pay anywhere from $20,000 to $80,000 replacing them. These costs include the cost of advertising, interviewing, screening, training, lost productivity, errors etc. The list goes on. These costs of course don’t include intangible costs which include lower employee morale and opportunity costs.
Studies have also shown that happy employees are more productive employees. The Harvard Business Review analysed hundreds of studies on employee productivity and found that happy employees show an average of 31% higher productivity and three times more creativity than those who aren’t happy.
So how can you attract, motivate and retain the best without having to spend more money?
One way is to recognise and reward your employees for their hard work, especially those in the not-for-profit space where many are volunteers. An employee benefits program is the perfect way of providing an ongoing method of rewarding those within your organisation to keep them happy and keep them around. With that in mind, Church Resources developed an exclusive buying portal, Your Salary Benefits, to assist not-for-profit organisations reward their employees. Membership is exclusive and totally FREE for those in the not-for-profit space so it’s a great initiative to introduce to your not-for-profit organisation to give you the edge in attracting and retaining the right workers.
The buying portal provides staff of not-for-profit organisations access to a wide range of goods and services at exclusive member pricing from some of the biggest brands in Australia such as The Good Guys, Apple and Medibank. Staff will have access to everything from laptops to sportswear to dining experiences to personal health insurance. This is a great way to reward your staff coming into Christmas this year and beyond and there is absolutely no catch.
Sign up for Your Salary Benefits now!