for the Period Ended 31 October 2023
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Additional notes | |
Community Interest Report |
for the Period Ended
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The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 October 2023
Basis of measurement and preparation
for the Period Ended 31 October 2023
2023 | 2022 | |
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Average number of employees during the period |
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Our purpose There are 900,000+ employees working in the charity sector. There is a 20% employee turnover rate and 80% of vacancies are filled with external hires at an average cost of over £1,800 per position. This creates an expense to the sector of around £300 million each year. This is a massive tangible expense and also creates disruption, impacting the services to beneficiaries. From the employees’ perspective the fact that so few vacancies are filled with internal candidates impacts engagement and fuels the problem. Charities tend to underinvest in their people management programmes, for a number of reasons, including a belief that donors expect the maximum proportion of their donations to reach the end cause. Talent Exchange was set up in 2020 to enrich the careers of charity sector workers through research, insight, best practices tailored to the sector and advice. Our solutions In 2021 we co-developed people management frameworks with a number of charities. Since 2022 we have provided advice to charities. This consisted of one-off projects ranging from informal advice and support, to more extensive projects. Mostly on a pro bono basis. In addition we started sourcing suppliers at negotiated discounts for related technology, data and services. And we are now partnering with the Charity HR Network (CHRN), through a special interest group, to advice their members on related themes, also on a pro bono basis. We are also involved in the development of insights into HR trends in the sector. Impact We believe that investing in effective people management practices will improve engagement, enhance staff retention, save money and improve services to beneficiaries.
Since 2022 we have developed a formal relationship with the Charity HR Network to develop relationships with their members. We are also represented at the Association of Chief Executives in Voluntary Organisations (ACEVO) and are actively involved in supporting the members on related matters. We have also started to identify collaborative opportunities with the Centre for Charity Effectiveness.
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
6 September 2024
And signed on behalf of the board by:
Name: David Wreford
Status: Director