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Offering a competitive compensation package is a great way for non-profits to be successful in attracting and retaining employees in the long run. That said some of the benefits of implementing a competitive package are:
To gain top-skilled employees, organizations need to show they value their employees by offering attractive compensation packages compared to the industry standards.
Enhances the organization's reputation by building a brand for your organization. This helps establish the respective organization's mission to its employees. To learn more about How to Build a Brand for a Non-profit visit this link: (What to Include in Your Nonprofit's Branding Document by 501commons.org).
Communicate your values as it is an ideal way to show your employees that you care about them by making an effort to exhibit the offers and how it will benefit them.
As employees feel valued within their organizations they will be driven and motivated to advance in their performance and increase employee engagement which boosts the organization's overall productivity level.
Make sure to check this amazing video to get you started on building a complete compensation package for your employees!
Important to Remember!
There's a ripple effect on employee level of satisfaction! Therefore, make sure to prioritize your employee's values and inputs, especially in terms of benefits and compensation for an organization to maximize its overall success!
It is important to acknowledge that each Benefit and Compensation Package that an organization offers its employees may vary depending on your respective organization's objectives/goals and standards.
Health Benefits
Personal Benefits
Retirement Benefits
Creative Benefits
Time Off Benefits
While there isn't a right or wrong answer as to what is a perfect complete package, it really depends on what the respective organizations can offer and what resources and budget they have availavble. That said the following are some standard components that organizations should include in their benefit and compensation packages for their employees. Remember these should reflect your organization's cultural and group values!
*** Keep in mind to make adjustments according to employee level and local laws that the organization governs by ***
An overview of 10 generals options for what a compensation and benefits package may include are as follows:
Salary and its details
Health care benefits (including medical, dental, and vision care)
Life-insurance
Parental Leave
Stock Options (if applicable)
Retirement Benefits and Plans
Vacation & Sick Time
Bonus, Commissions, and Merit Pay
Housing, school, and meal recompense
Reimbursement Programs
The following are examples of what an example of what a compensation and benefits package may look like for different levels of employment. Taking into consideration an entry-level or part-time compensation and benefits package looks very different in comparison to a senior-level compensation and benefits package.
The following are examples of what an example of what a compensation and benefits package may look like for different levels of employment. Taking into consideration an entry-level or part-time compensation and benefits package looks very different in comparison to a senior-level compensation and benefits package.
*** The model shown is for illustration purposes only and represents a national average for the United States***
*** The model shown is for illustration purposes only and represents a national average for the United States***
Part-time LEVEl Package
Part-time LEVEl Package
For part-time employees, compensation and benefits packages may mostly include non-monetary perks. These may include organizations' affiliation discounts on certain products and services and referral bonuses.
However, non-profit organizations such as GoodWill and Catholic Charities In Wayne County have revised their policy to treat part-time and full-time with equal benefits and compensation including vacation periods.
Entry LEVEl Package
Entry LEVEl Package
For entry-level employees, while compensation and benefits packages may have fewer perks in comparison to higher levels of employment, they offer a great mix of monetary and non-monetary benefits. These include personal and professional development while embracing advancement opportunities within the organization.
Senior LEVEl Package
Senior LEVEl Package
For senior-level employees, the compensation and benefits are mostly targeted to higher employment qualifications, managerial leadership, or executive positions such as Executive director, Vice president, Chief Financial Officer, HR director, and more.
A senior employee at an organization must possess a high level of experience, knowledge, and responsibility as they have the most decision-making authority as a whole.
Check out these insightful articles to learn more about how to implement benefits and compensation with a smaller-scale non-profit!
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