For most nonprofits, personnel costs often make up the single largest expenses line in their budgets. Paying for expenses like salary, benefits, training, and equipment adds up! And for every nonprofit, your staff members are without a doubt your greatest asset.
Your employees may come and go for a variety of different reasons. While you may consider the costs associated with compensation, many organizations don’t consider the long-term costs associated with turnover. Understanding these direct and indirect costs is an incredibly important planning tool that nonprofit managers can use when creating scenario plans and determining hiring strategies.
That’s why at The Nonprofit Leadership Alliance, we’ve created a turnover calculator so that you can quickly determine the costs associated with employee departures. This will help show your organization the immense value of employee retention. Access this amazing calculator for free so that you can see this value for yourself!