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Nonprofit Compensation Planning: Essential for Attracting & Retaining Key Employees

Please join Sidney Abrams, SPHR, managing director of consulting services at NonprofitHR Solutions and Heather de la Riva, consultant, NonprofitHR Solutions, as they review the critical elements that need to be included in your compensation plan and assists you with the necessary timeframes for developing a reality-based compensation plan.

Price: $299.00
Nonprofit Compensation Planning: Essential for Attracting & Retaining Key Employees

Compensation planning can be an intimidating process for a nonprofit organization. While budgeting salary and benefits may seem like an objective calculation based on straightforward numeric information, it is actually a process influenced by a number of factors including: philosophical considerations, competitive salary levels, government regulation, etc. For example, philosophically, there is the common belief that nonprofit compensation levels are justifiably lower than for-profit sector salaries, and from a regulatory perspective, there are always concerns that signs of “excessive compensation” could trigger greater scrutiny by the Internal Revenue Service and various state agencies. The difficulty is that there are no specific formulas for determining employee compensation, but this doesn’t reduce the need for an overall compensation plan which begins with your CEO/executive director and covers every other level in your organization. The risks associated with not having a well-reasoned and documented compensation plan are just too great not to take seriously. Not only do you run the practical risks of being unable to attract and retain the best-qualified talent, but by following loose compensation practices you may also be inviting greater government scrutiny. 

WHAT YOU’LL LEARN

Just a sampling of what this webinar will cover:

  • Discuss the required elements of a compensation plan including salary, benefits, and other forms of compensation both financial and nonfinancial in nature
  • Consider how to develop a compensation philosophy that fits your nonprofit
  • Review the process for approving the compensation of your CEO/executive director and certain other key executives
  • Discuss the importance of conducting an independent review of compensation decisions, using objective comparative salary data, and documenting your decisions as part of your board minutes
  • Understand how to interpret comparative salary data and how to benchmark your compensation decisions
  • Learn how to effectively communicate your compensation plan with your employees
  • Discuss the importance of conducting an annual review of your compensation plan
Price: $299.00

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PRESENTERS

Sidney Abrams
Heather de la Riva

WHAT'S INCLUDED

  • Access your training anywhere, with a computer, tablet or smartphone.
  • Engaging and up-to-date training to support your career and your organization.
  • Handouts you can distribute to your board and staff.