Strategy to turnaround NFP's $2m operating deficit

A large Melbourne-based aged care and community not-for-profit engaged Nous to develop a strategy to turnaround its $2m annual operating deficit.

Through financial analysis, benchmarking and executive workshops it was found that the workforce, aged care facilities and systems and processes were all contributing factors to this deficit. A series of costed recommendations were drafted to address the deficit including governance, service segmentation and facilities mix, a new client management system, a values-driven culture change program and changes to the executive team.

The board was renewed and a new CEO and executive were hired to execute the turnaround strategy.