Thursday, June 20, 2013

NPT Salary Report: High Salary Means Low Turnover

One of the keys to a successful nonprofit is being able to maintain a low turnover rate. That is, you must keep the talented employees at your organization for as long as possible. Not surprisingly, it turns out that paying your workers a competitive salary is one of the best ways to do this.

According to data from the 2012 Nonprofit Organizations Salary and Benefits Report, those positions receiving the highest annual pay and highest annual bonus pay also have the lowest turnover rates. The top 10 positions that have this distinction are:
  • Print Shop Manager -- 13.9 years
  • Artistic Director -- 13.8 years
  • Librarian -- 13.7 years
  • Chancellor/President -- 13.3 years
  • Chief Information Officer -- 12.5 years
  • Chief Administrative Officer -- 12.4 years
  • Building Manager -- 12.4 years
  • Mail Clerk -- 12.2 years
  • Director of Nursing -- 12.1 years
  • Executive Vice President -- 11.8 years
It's also no coincidence that a number of these positions also received high bonus pay. For instance, the Chancellor/President position had an 8.85 percent bonus pay rate, and the Executive Vice President was at 5.94 percent.

Of course, data changes every year and that's why The NonProfit Times is looking for more participants for the 2013 Nonprofit Salary and Benefits Survey. The completion date for the survey is June 28th and those who complete it will be entered for a chance to win an iPad Mini.

Complete the survey TODAY and help all nonprofits by providing them with imperative compensation data such as those detailed in this post.

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