Nonprofit organizations often face unique challenges when recruiting finance and accounting talent — as if finding the right talent was not already hard enough. Unlike for-profit entities, nonprofit leaders must balance their mission-driven goals with financial resources and sustainability when recruiting.
According to the National Council of Nonprofits’ 2023 Nonprofit Workforce Survey, financial constraints were the biggest challenge to nonprofits’ ability to recruit and retain employees, with 72.2 percent of respondents citing salary competition and 66.3 percent of employees citing budget constraints or insufficient funds.
Finding the right talent is especially crucial in ensuring an organization's financial health and compliance with strict regulatory requirements. Here are four essential tips for nonprofits to consider when seeking accounting and finance talent.
1. EMPHASIZE MISSION ALIGNMENT
One of the most significant advantages nonprofits have when recruiting talent is the ability to attract individuals who are passionate about the organization's mission. When recruiting finance and accounting professionals, it is important to highlight how their work will directly contribute to the organization's impact. Candidates who feel a strong connection to the cause are more likely to be engaged and committed in their roles. During interviews, assess the candidates' understanding of and alignment with your mission to ensure they are not only skilled but also motivated by the organization's purpose.
2. HIGHLIGHT TOTAL REWARDS AND COMPENSATION
One of the most common challenges nonprofits face is budget restrictions — for-profit companies can typically offer much higher salaries and bonus structures. While you may not be able to match for-profit salary ranges, candidates will likely weigh the overall compensation package, including premium benefits coverage, 403(b) retirement plans and flexible work arrangements. Highlighting opportunities for professional development, career growth and work-life balance will also make your organization more attractive.
3. CONSIDER TECHNICAL AND SOFT SKILLS
While technical accounting skills are essential, strong soft skills are often overlooked when vetting potential candidates. Effective communication, analytical thinking and problem-solving abilities are critical for working in a typically collaborative nonprofit environment. Communication is critical, as nonprofit accountants may find themselves having to explain financial information and updates to non-financial staff and board members. Additionally, adaptability and creativity are valuable as nonprofits frequently operate with limited resources and need innovative solutions to financial challenges.
4. LEVERAGE NETWORKS AND SPECIALIZED RECRUITERS
Finding the right candidates in this industry can be especially difficult as nonprofit accounting differs significantly from for-profit accounting. It is important to leverage your network within the nonprofit community to identify potential candidates and referrals. Additionally, consider partnering with advisors who specialize in the nonprofit space. Recruiters with a deep understanding of the nonprofit world will best understand the unique challenges of your organization and will be able to “speak the language” when it comes to managing grants and restricted funds. More importantly, they will likely have access to a pool of candidates with relevant experience and passion for mission-driven work. Collaborating with specialized recruiters will streamline the hiring process and increase the likelihood of finding the right fit for your organization.
TAKING A STRATEGIC APPROACH
Recruiting finance and accounting talent for nonprofits requires a strategic approach that emphasizes mission alignment, specialized knowledge and a balance of technical and soft skills. By leveraging their networks and partnering with specialized partners, nonprofits can attract and retain professionals who are not only skilled but also deeply committed to the organization's mission.
To learn more about how to find and attract the best talent, please reach out to GHJ Search and Staffing. To learn more about how GHJ partners with nonprofit organizations to help them achieve their goals, please reach out to GHJ’s Nonprofit Practice.
