'Reshaped by the pandemic: the way forward for charities': The Barclay's Report
Barclay’s have released a report exploring the challenges the VCSE sector are facing during this pandemic, which includes the promotion of successful stories of how groups have evolved and adapted in the current climate. A further example of the sector’s strength and resilience.
This is the report’s key takeaway findings:
“Charities need to continue to respond to the lessons of the pandemic and make the flexibility and innovation they’ve shown over the past year ‘business as usual’.
Given the seismic changes the sector is experiencing all charities should consider the following key points:
Review revenue streams and look to diversify income. Do you have sufficient free reserves to meet unexpected financial stresses? Consider your existing reserves policy – will your reserves ensure you can meet future unexpected demand?
Strengthen your position by clarifying your core purpose, mission and objectives and ensure they are well communicated to beneficiaries, donors, staff and volunteers, as well as wider society.
What are the opportunities for your charity? Have you identified them and set a plan to meet them? Are you seeking out productive new partnerships and collaborations? Are you getting the most from your existing donors and taking advantage of opportunities to attract new donors?
Embrace technological change and new ways of working. Look at the possibilities the move to digital offers. Ensure you have a trustee with digital expertise to support your wider strategy.
Well- being of staff and volunteers should remain front of mind. Consider how future working patterns will be affected by ongoing social distancing and the long-term impact this may have on wellness. Are you taking steps to ensure equality, inclusion and diversity are part of your organisation’s DNA?
Regularly review your governance structure to ensure you have robust processes and policies to protect and strengthen your organisation.
What is the impact on your charity of the environmental, socialand governance (ESG) agenda? Sustainability has come to the fore during the pandemic – have you thought about the impact on and role of your organisation?”