Nothing ahead of us is bigger than the power around us.
Nonprofits continue to face competition for talent in the areas of Fundraising/Development, Education/Community Outreach, Program Management and Public Relations. Nonprofits are committing to an investment in talent. There is an intense competition for talent in a job seeker’s market where qualified candidates have more option in where they chose to work and able to be more selective. Competitive compensation is a factor given private sector companies are significantly increasing “sign on” bonuses, base salaries and incentives to attract and retain qualified talent.
With many global companies are watching proposed reforms in Foreign Trade Agreements, the nonprofit organizations have a close eye on proposed Tax Reforms both at the federal and state level. Current tax reform proposals would decrease charitable giving by individuals by a minimum of $13.1B, according to a recent report published and reported at Independent Sector this month. Also, there are proposed changes to Estate Tax which will minimize the advantages of Major Gifts including family foundations. For public and private companies, there is a reform proposed for “unrelated business income” which will minimize the advantages of corporate sponsorships for non-profit initiatives.
With limited resources, nonprofits will need to focus their staff on advocacy efforts and educating policymakers. Some non-profit sectors are banding together to create coalitions to educate legislators on the impact of proposed tax reforms on their client base. There are several success stories of advocacy groups around the United States who have responded to other government reforms. For example, the Immigrant Service Provider Network (ISPN) and the Missouri Immigrant and Refugee Advocates (MIRA) are working together to ensure full support for their client base.
Individual nonprofits now need to identify new roles in their organizations to collaborate with agencies with common missions and form alliances for educating legislators. There is a new set of skills to be developed through training and development opportunities. Employment branding strategies are important to showcase the mission and culture of individual organizations and attract selective job candidates. With Millennials setting out to do more meaningful work while maintaining a stronger work-life balance, the culture of collaboration with other “like-minded” organizations is attractive. With Boomers wanting to retool to “pay it forward” during retirement, mentoring young professionals with a common mission is exciting. Workforce planning, talent management, rewards, and benefits programs are critical for attracting and retaining the right skills and adapt to the upcoming reforms.