The 2016 GiveEasy Innovation Index has been released. Reviewing the Innovation Index, it is striking how far Australian charities have to go in terms of innovation. Jeremy Tobias, CEO of GiveEasy, does report there are some “promising signs”. Further, the Innovation Index shows a correlation between innovation and growing budgets. Tobias suggests this mirrors our for-profit counterparts (and other similar studies in the corporate sector) where innovation leads to greater share price and revenue growth.
The Innovation Index illustrates a non profit sector, which “remains largely middle of the road” when it comes to innovation performance. Just 37%, according to the study, of respondents have an agreed innovation strategy or innovation focus in their non profit organisation. GiveEasy suggests “this implies fairly low levels of committed, structured internal resources for innovation”.
Not all bad news, GiveEasy reports some signs of improvement in some key areas: those who are actively pursuing innovation do score higher and are more likely to have increasing budgets; funding and grants are more likely to be awarded to more innovative non profits. Additionally, the study had a greater number of participants this year than in the past.
Perhaps your organisation ticks one of these boxes?
- Lack of money to innovate.
- Lack of time to dedicate to thinking outside the box.
- Burdened by government reporting and compliance.
- Lack digital capabilities in house.
- Do not use social media or other online sources of marketing and fundraising.
- Experience low levels of support for innovation.
If so, you appear to not be alone. GiveEasy suggests a dedicated, collaborative effort is required from sector stakeholders if we want a flourishing NFP secret that can meet the evolving demands of the digital area. The Innovation Index offers seven capabilities which need to be embraced and implemented. Download a copy of the GiveEasy Innovation Index today. Learn from it. Study it. Begin planning your innovation strategy now.