An April 22, 2010 Wall Street Journal article, “Perils of Church Related Pension,” shares that, “Employees and retirees of Minneapolis publisher Augsburg Fortress are suing their employer, alleging in their complaint that it allowed their pension plan to fail…” Augsburg Fortress is a non-profit organization.
For years, many nonprofits, like Augsburg Fortress, have offered relatively low salaries and offset them with excellent benefit packages. Are good benefit packages a vestige of the past? If indeed low-salary-good-benefit packages are another victim of the great recession, what does this mean for nonprofits? If your nonprofit offers an excellent benefit package, can it afford to continue it? If not, how will it encourage new employees to select a career with your organization? Will passion be enough?
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