How much is your CEO’s time worth?
If you had to put a dollar figure on your CEO’s time, what would you say?
Our CEO’s are having restless nights trying to get everything done. They are tearing their hair out over their responsibilities and work load.
They are responsible for the entire organisation, answerable to the Board, and the NDIS Commission. Their greatest value to an organisation is:
defining strategy
operational management and financial accountability, and
creating the vision for their staff and volunteers.
A NFP CEO handles the organisation’s purpose, tasks and staff. They are also responsible for the finances and accountability for all funds and the safety of participants.
Their time is spent managing the executive team, and overseeing the integrity of the services and products that they deliver. If there are volunteers, then they have the duty of care to them as well. Our hard-working CEO’s also plan activities and events, and meet stakeholders and clients. They ensure that the organization’s mission is communicated amongst the teams of employees and volunteers.
Rewriting or authoring new policies and processes to meet the new NDIS Quality and Safeguarding Framework is a huge impost on their time.
So, our busy CEO is working in and on the business at a fairly frantic pace. In light of the new Quality and Safeguarding Framework from the NDIS they face an even greater administrative burden. The new NDIS standards requires a rewrite of many policies to meet audits and compliance regulations.
From our experience over 30 new policies need to be written and 60% of policies are not compliant. (Source: Centro ASSIST Gap Check, Jan 2019)
Let’s say that each policy takes:
3 hours to review against the new standards
3 hours to write new audit ready content and reference the standards
.5 hours to update all the forms and registers
According to Payscale, the average pay for a Chief Executive Officer (CEO), Non-Profit Organization (NFP) in Sydney, New South Wales is AU $136,108 per year.
Now let’s multiply the hours required for 30 policies by their average hourly salary of $70.
192 hours of effort x $70 = $13,440
Is this a good use of their time? Do they have a spare 192 hours before their next audit? How much is a good night’s sleep worth?
Outsourcing the authoring and digitizing of policies and processes makes sense. Peace of mind knowing that hundreds of providers are using audit approved content is comforting.
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