{"id":16308,"date":"2023-03-08T06:15:30","date_gmt":"2023-03-08T11:15:30","guid":{"rendered":"https:\/\/www.sage.com\/en-us\/blog\/?p=16308"},"modified":"2023-03-08T10:31:45","modified_gmt":"2023-03-08T15:31:45","slug":"how-cloud-nonprofit-accounting-software-helps-to-retain-top-talent","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-us\/blog\/how-cloud-nonprofit-accounting-software-helps-to-retain-top-talent\/","title":{"rendered":"How cloud nonprofit accounting software helps to retain top talent"},"content":{"rendered":"
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\n\t\t\t\t\t\t\tPeople & Leadership<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t
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\n\t\t\t\t\t\tHow cloud nonprofit accounting software helps to retain top talent\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t

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\n\t\t\t\n\t\t\t\t\"joan-benson\"\t\t\t\tJoan Benson<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n

For the past few years, nonprofits have faced a shortage of talent. When the National Council of Nonprofits surveyed 1000 nonprofits about job vacancies in late 2021, more than three-quarters of respondents had vacancy rates above 10%, and roughly one in eight organizations had more than 30% of positions open<\/a>. Nonprofits must compete against for-profit companies in recruiting, but often have smaller salary budgets. In this tight labor market, it is more important than ever to step up efforts to retain existing employees.<\/p>\n\n\n\n

Like the rest of the organization, the nonprofit finance and accounting team feels the impact of the current skills shortage. The 2023 Nonprofit Technology Trends Report<\/a> revealed staffing shortages were a top challenge among more than half of nonprofit finance leaders, second only to the challenges posed by economic uncertainty.<\/p>\n\n\n\n

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2023 Nonprofit technology trends report<\/a><\/em><\/p>\n\n\n\n

Download the Benefits of Cloud-Based Nonprofit Accounting Software e-book<\/a><\/p>\n\n\n\n

Fortunately, there are a number of ways the right nonprofit accounting system can help alleviate staffing shortages and improve employee retention. In this article, we discuss how nonprofit accounting software automation can help you accomplish more without needing additional staff. We also highlight several ways automation helps provide a more interesting and less stressful job, so employees will want to stay with your organization.<\/p>\n\n\n\n

What do today’s employees want most?<\/h2>\n\n\n\n

Nonprofit accounting professionals look at much more than money when choosing where to work. First and foremost, candidates want to believe in the organization\u2019s mission. Second, they seek a flexible work environment, which usually means remote work or hybrid work, but might also include scheduling flexibility. Next, leaders rank salary and benefits and solid leadership as the third and fourth most important criteria for job seekers. Rounding out the top five most important considerations, nonprofit finance and accounting professionals want the empowerment afforded by best-in-class software systems and automation.<\/p>\n\n\n\n

The current skills shortage means top candidates often get several competing offers. Technology may not rank as important as your mission, but when a candidate is choosing between two or more attractive opportunities, technology can easily become the deciding factor.<\/p>\n\n\n\n

With staffing shortages and hiring challenges, what do you believe attracts candidates to your organization?<\/h3>\n\n\n\n
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2023 Nonprofit technology trends report<\/a><\/em><\/p>\n\n\n\n

Improve staff utilization while giving them more satisfying work <\/h2>\n\n\n\n

Professionals choose to work in the nonprofit industry because they want to make a difference. However, for most people, keying the same data into multiple, disparate systems doesn\u2019t feel very impactful. Routine tasks neither satisfy nor challenge your employees, so the goal should be to cut this type of work out of day-to-day accounting processes.<\/p>\n\n\n\n

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2023 Nonprofit technology trends report<\/a><\/em><\/p>\n\n\n\n

As you can see above, both the lack of process automation and the inefficiencies associated with disparate systems ranked high on the list of internal challenges facing nonprofit finance and accounting teams<\/a>. Luckily, nonprofits with a highly automated, cloud nonprofit accounting system<\/a>, such as Sage Intacct, can automate many of these time-consuming, manual tasks, leaving staff to focus on areas that make a bigger impact. Doing more strategic and high-value work will help improve employee engagement, satisfaction, and retention.<\/p>\n\n\n\n

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\u201cSage Intacct has made a world of difference for all our day-to-day financial processes, from reporting, to accounts payable and receivable, to payroll. I\u2019ve even been able to reduce headcount and increase salaries to boost job satisfaction. Sage Intacct truly makes finance fun and helps our team look outstanding in the organization.\u201d<\/em><\/p>\n\n\n\n

~ Larry Chank, CFO, Hopi Tribe Economic Development Corporation<\/p>\n<\/blockquote>\n\n\n\n

Enable your team to work remotely <\/h2>\n\n\n\n

In the National Council of Nonprofits survey, some nonprofit leaders cited the \u201callure of remote work\u201d as one reason they encountered difficulty attracting and retaining staff. A 2022 survey of nonprofits found over 90% of nonprofits require employees to be in the office some days each week, but offer flexibility to work remotely other days.<\/a> This hybrid work model is very popular; the survey also showed 80% of nonprofit employees prefer it over working full-time in the office.<\/p>\n\n\n\n

To support a hybrid work arrangement, organizations need cloud nonprofit accounting software<\/a> that offers the same user experience whether employees are in the office, in the field, or working from home.<\/p>\n\n\n\n

Because you have less control over remote work environments, make sure your nonprofit accounting software offers excellent security capabilities, including:<\/p>\n\n\n\n