Lack of Funding
From our surveys of nonprofit organizations, we’ve learned that only 36% of nonprofits have a documented HR strategy. Less than half have the luxury of a dedicated HR budget. This leaves many nonprofits vulnerable to potentially costly compliance risks. Managing human resources in nonprofit organizations isn’t easy. Paycor is here to help with easy-to-use solutions that make Payroll and HR simple and accurate, so you can minimize administrative overhead and maximize the spend on your mission.
One of the most important jobs for a nonprofit is to recruit and retain the best people for the job. Historically, nonprofits pull from a smaller pool of talent, due to typically lower pay scales. With unemployment at record lows, the search for top talent is even more challenging. Paycor’s web based recruiting and onboarding software solutions can help your nonprofit’s employment brand stand out from the crowd. And once you, and you make that dream hire, our onboarding solution can go a long way toward helping you retain your best people.
Payroll Tax Burden
The nonprofit sector faces unique compliance challenges, especially as it pertains to accrediting organizations. While a nonprofit status means exemption from some FICA and FUTA tax rules, nonprofits are still responsible for things like volunteer compensation—especially monetary compensation—which must be counted as taxable wages. Paycor’s HCM software solution can help you accurately manage time and payroll to efficiently prepare for audits.