An NGO financial management policy is basically a manual that covers the accounting policies, systems and procedures of the organization. It is developed not only for governing the financial transactions of the organization so that its staff can follow the set systematic procedures but also to fulfil local statutory requirements and demonstrate the strong management practices adopted by NGOs.
A financial policy is primarily made to ensure the following:
- Ensure that the organization’s books of accounts are prepared to conform to sound accounting principles and practices.
- Enable the management to obtain accurate and timely financial reports
- Ensure correct and accountable use of funds and other resources.
- To assist in the maintenance of controls.
- To be used as a reference document by the staff, management, auditors and other stakeholders.
The importance of Human Resources (HR) in a non-governmental organisation (NGO) as a means of ensuring sustainable growth for an organisation cannot be overemphasised, as it is the fundamental strength upon which people, strategies, processes and operations are based. Effective employee management should be on top of the list of priorities for progressive improvement of an organisation. An NGO must strive to attract, develop and retain qualified and enthusiastic employees as they are the key to the success of one’s business.
HR policies should also focus on the overall growth of the employees. As an organisation it should not just focus on employees meeting the organisation’s expectations but should also focus on organisation meeting the expectations of the employees.
Major focus should be on:
- Providing inclusive work culture
- Challenging environment to grow
- Approachable management
- Good work-life balance
- Exciting pay and perquisites
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