Why You Want Your Boss to Participate in Salary Surveys (and Why You Should Read Them)
You may want to change the world and love your job working in the nonprofit sector, but that doesn’t mean that you don’t have to pay your bills on time. So when those salary survey participation offers show up in your inbox—or that of your boss—it’s a pretty good opportunity to learn something.
Believe or not, most employers want to pay their staff competitive wages. The cost of training can be high, and turnover is rough on everyone. Knowing what the competition is paying for similar jobs is important to attracting and retaining happy staff. Understanding the bucks and perks being offered down the street can help you when it comes time to negotiate a compensation package. Recent reports note that the Supply/Demand rate stands at 1.4 unemployed persons for each advertised vacancy—so a little homework is in order.
Ranjita Chattopadhyay is a writer for Paycheck India. And although you may not be contemplating a move to India, he didn’t mince words about the value of employees, employers, and candidates reading salary reports. In his article about the importance of salary surveys for the employee and employer, Ranjita summarily writes: “The most valuable information that employees get out of such surveys is whether they are getting their actual worth or not. You can compare your salary with those of others occupying similar positions and equally qualified as you are. Thus, you will get a clear picture about whether you are underpaid or rightly paid by your employer. If you are planning to switch to a different sector, you can check out what others are being paid at your level in a particular industry. Knowing what the industry standard is will help you when negotiating your salary with a current employer or it can help you frame a figure in your mind so that you can negotiate well with your future employer.”
PNP Staffing Group, formerly Professionals for NonProfits, recently released its 2015 — 2016 NonProfit Salaries & Staffing Report. The report offers impressive evidence of continuing growth, development, and confidence in the nonprofit sector. Many institutions are expanding, and hiring in the sector continues to grow. This is good news for individuals who want their values and their job to mesh.
You (and your employer) should read the PNP report. It shares that, for the first time, the number one interest expressed by candidates is in training and professional development opportunities. Yet 68% of respondents report that they either “do not often” or “never” offer such training to retain staff. Add that to your negotiations next time around!
And in case you haven’t already read to the last page, pay particular attention to the Significant Staffing Considerations for 2016. Key findings indicate that three factors will be especially important for nonprofits to take into account in 2016 for successful talent management. We’ll leave it to you to discover what those findings might be.