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Staff turnover reaches five year low at Turning Point as salary costs grow

11 Dec 2023 News

By Markus Mainka, Adobe

Turning Point has seen a reduction in voluntary staff turnover, as it reached a five-year low in 2022-23, according to the charity’s most recent accounts.

Accounts for the financial year until March 2023 also show a rise in income at the charity, despite it not being “immune” to the difficult financial climate.

Chair of Turning Point Peter Hay writes in the foreword that it has been “another turbulent year”, noting “cost and demand outpaced funding and recruitment”.

“Across the sector we have seen organisations struggle to fill vacancies, hand back contracts, and have difficult conversations with commissioners.

“We have not been immune to these issues but overall, we have seen services grow, with innovative new services coming to fruition.”

The accounts add: “This has been a year of political change, economic challenges, and social turmoil.”

Reserves hit positive for first time since 2015

Overall, income at the charity increased by 6.3% to £152.8m, generating an operating surplus of £1.3m. Operating costs were over £151.4m.

Its overall income reached £143.7m in the year to March 2022, with the charity transferring £3m to its reserves. The income increase was driven by the charity receiving more grants to provide non-residential services.

The 2022-23 accounts state: “Turning Point has returned another year of income growth and sustained positive contribution. 

“Having recovered from the impact of Covid-19, Turning Point faces the new challenge of managing the impact of high inflation, energy price increase, and a requirement to continue to invest in our employees so that there is a continued improvement in recruitment and retention in each market.”

“The financial results for the year show that, despite adapting to the changed operating environment, financial performance remains strong.”

In the financial year 2022-23, reserves improved by £6.2m and Turning Point will enter the financial year 2023-24 with total reserves of £3.6m. The charity had unrestricted reserves of £13.0m. 

This means its total reserves are now positive for the first time since FRS 102, the financial reporting standard, was introduced in 2015.

The charity’s new strategic period runs from April 2022 to March 2027, which sees the charity forge new opportunities “to integrative health and social care, while extending our reach, effectiveness, and use of technology”.

Staff costs 

The accounts show that 60% of people who worked at the charity had lived experience of the issues Turning Point works on, or were carers.

The average number of monthly employees was 3,721, up slightly from 3,702 the year before.

The highest-paid member of staff received between £220,001 and £230,000, the same band as in 2021-22.

Staff costs were £117.1m compared with £108.6m the year prior, largely due to an increase in salary spend.

Voluntary colleague turnover reached 23% by the end of 2022-23, which the charity states is 6% lower than the sector average.

In 2023, the number of colleagues voluntarily leaving reached a five-year low.

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