Fundraising is critical to every nonprofit’s success; it requires many tactics that involve proper management of the fundraisers to achieve your organization’s overall mission. Retaining your fundraising staff is ultimately important as it provides stability and sustainability in your fundraising efforts. In today’s podcast, Ellen Bristol from Bristol Strategy Group, Inc. and Stephen Halasnik from Financing Solutions discuss the keys to retaining fundraising staff.
Summary
The Keys to Retaining Your Fundraising Staff
Fundraising is the lifeblood of every nonprofit operation. Without a steady cash flow, nonprofit organizations will hardly reach their mission and positively impact their community. Consequently, every nonprofit should strive to put the proper measure to manage their fundraising staff so as to retain them. Retaining your fundraising staff is essential, as high staff turnover will invariably affect your organization’s ability to get the necessary funding to finance its programs.
In addition, a good mechanism for retaining your fundraising staff will foster donor engagement and retention. So, what are the keys to retaining your nonprofit fundraising staff? What follows are the essential ingredients that promote nonprofit fundraising staff retention.
Benefits of Retaining Your Nonprofit Fundraising Staff
Retaining nonprofit fundraising staff is crucial for the success of your nonprofit organization. Here are some reasons why:
Experience
Fundraising staff is the key to generating revenue for the organization. Nonprofit organizations rely heavily on fundraising efforts to support their programs and services. Experienced and effective fundraising staff can help identify potential donors, cultivate relationships, and secure donations critical to the organization’s sustainability.
It reduces cost
High turnover in fundraising staff can be costly. Recruiting, hiring, and training new fundraising staff can be expensive and time-consuming. When experienced staff leave, the organization loses its knowledge, skills, and relationships with donors, which can set the organization back in meeting its fundraising goals.
It fosters stability
Consistency and stability are essential for donor relationships. Donors want to feel connected to the organization and its mission. High staff turnover can disrupt these relationships and lead to a loss of trust and confidence in the organization’s ability to use donations effectively.
Promotes morale
Retaining staff can improve morale and productivity. When employees feel valued and supported, they are more likely to be engaged in their work and perform at a high level. A high turnover rate can lead to demoralized staff and reduced productivity, impacting fundraising efforts and overall organizational success.
Keys to Retaining Your Nonprofit Fundraising Staff
Nonprofit fundraising staff retention is often one of the top challenges. Some experts aver that the average fundraiser will leave their position every 16 to 18 months, costing nonprofits hundreds to thousands of dollars in hiring and training new employees. However, despite this ugly trend in the nonprofit industry, it’s still possible to maintain a high retention rate within your nonprofit by doing the following:
Build a process and system
Putting a system and processes in place to manage your fundraising staff ensures success, sustainability, and retention. Without a clear and defined set of procedures, managing tasks, assigning responsibilities, and achieving specific objectives can be challenging. In contrast, a well-designed system and processes can lead to more streamlined operations, improved communication, and increased productivity in fundraising campaigns.
Provide Clear Expectations and Goals
Fundraising staff thrives on clear expectations and goals. Providing staff with a clear understanding of their roles and responsibilities, as well as measurable objectives, can help to keep them engaged and motivated. Regular check-ins with managers to discuss progress and provide feedback can also help to ensure that staff are on track to meet their goals and feel supported in their work.
Create a Positive Work Environment
A positive work environment can go a long way in retaining fundraising staff. This includes fostering a culture of respect, open communication, and collaboration. Encouraging team-building activities and recognizing staff achievements can help to create a sense of camaraderie and loyalty among your team. It’s also essential to provide professional growth and development opportunities, such as attending conferences and workshops, to demonstrate that you are invested in your staff’s long-term career goals.
Foster a Sense of Purpose
Nonprofit fundraising staff are often motivated by purpose and desire to make a difference. It’s essential to foster this sense of purpose by regularly communicating the organization’s mission and impact. Providing opportunities for employees to interact with program staff and beneficiaries can also help demonstrate their work’s impact and reinforce the organization’s mission.
Create a Positive Work Environment
A positive work environment can go a long way in retaining fundraising staff. This includes fostering a culture of respect, open communication, and collaboration. Encouraging team-building activities and recognizing staff achievements can help to create a sense of camaraderie and loyalty among your team. It’s also essential to provide professional growth and development opportunities, such as attending conferences and workshops, to demonstrate that you are invested in your staff’s long-term career goals.
Recognize and Reward Staff Achievements
Finally, recognizing and rewarding team members’ achievements is crucial to retaining your fundraising staff. You can include bonuses, promotions, and public recognition for exceptional work. Celebrating team successes and individual achievements can help to reinforce the importance of their work and show staff that their contributions are valued.
Learn About Our Guest
Ellen Bristol is an expert in fundraising management. She is considered a thought leader for her work on managing fundraising performance, including the tight alignment between fundraising and marketing. Author of three books on fundraising and strategic planning, Ellen is also the developer of the Leaky Bucket Fundraising Management Assessment and the SMART Way Tracking Dashboard, two software products that support predictable, consistent income growth.
Learn About Stephen Halasnik
Stephen Halasnik is the host of the popular Nonprofit MBA Podcast. The Nonprofit MBA podcast aims to help nonprofit leaders and their teams. Stephen is the Co-founder and Managing Partner of Financing Solutions, a leading provider of loans for nonprofits in the form of a Line of Credit. Stephen is a best-selling Amazon author and a leading authority on building great, purpose-driven businesses.
Stephen lives in New Jersey, and his top life mission is to raise his two sons, Michael and Maxwell, to be good men.