Nonprofit Compensation: How to Compete with the For-Profit Sector
In this enlightening episode of Nonprofit Hub Radio, host Delaney Mullennix speaks with Nanci Hibschman, the managing principal at C3 Nonprofit Consulting Group. They delve into the critical issue of nonprofit compensation, a subject of increasing relevance as nonprofits grapple with retaining high-quality personnel in competition with the for-profit sector.
Nanci argues that offering a thriving wage, not just a surviving one, is key to attracting and retaining top talent. She explains how a fair and competitive salary positively influences the well-being of employees. Moreover, she advises nonprofit leaders to think creatively about total compensation packages. She suggests they include benefits such as flexible work hours, professional development, and wellness programs. Also, Nanci candidly discusses common obstacles nonprofit leaders face, particularly in implementing effective compensation programs.
According to Nanci, the good news is that nonprofits can compete with for-profits on employee compensation and retention, thereby purposefully living out their missions. With strategic planning, nonprofits can overcome compensation challenges. This episode is a must-listen for nonprofit leaders seeking insight into innovative compensation strategies.
Nanci Hibschman, managing principal and division leader with C3 Nonprofit Consulting Group
Nanci Hibschman is a managing principal and division leader of C3 Nonprofit Consulting Group.
With over 25 years in the field, Nanci exclusively advises on compensation and performance strategies for the nonprofit sector. As an author and expert in nonprofit people and culture solutions,
Nanci is an organizer and speaker for various tax law and other conferences across the country.
Prior to joining C3 Nonprofit Consulting Group at SullivanCotter, she was a partner at a global human resources consulting firm, leading the tax-exempt organization practice.
