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It is a challenging time for employers. Whether it is the lingering effects of the global pandemic, increased turnover, incredibly competitive labor markets, or shortages of supply chains and materials, 2022 has started with the same uncertainty of how to navigate these challenges that was seen in 2021. Nonprofit organizations are not immune to these challenges. Every organization needs the right talent as it is critical for the growth of the business. However, tight operating budgets and careful allocation of funds in the nonprofit sector make recruitment and retention efforts challenging. Understanding the value of a total rewards package can make all the difference.
Typically, nonprofits have slightly lower wages, but the other benefits such as bonus, retirement, and discretionary bonuses can be just as attractive as salary at attracting and retaining talent.Debbie MorganManager, HR Content, MRA - The Management Association
Total rewards consist of base pay, health insurance, dental and vision benefits, retirement contributions, life insurance, paid time off, and more. Compensation of base pay is the largest total reward commitment to employees in an organization and why organizations should consistently review and understand their compensation strategy.
Ensuring a total rewards package is comparable to similar organizations, can help not only recruit, but also retain your current employees. Comparing, or benchmarking, your salary strategy against collected research will help you evaluate what your pay philosophy is set against the market averages. Using our compensation data and additional questions regarding benefits in this report can help you determine if your total rewards package is competitive enough for this ever-changing market.
MRA has a history of producing meaningful and reliable compensation data over the many years we have produced this study. It is to be used to benchmark jobs according to the market and the organization's philosophy. Results of the questions that were surveyed are shown in tables on the pages following this summary. They include additional breakouts by state when enough clean, relevant data was present.