Dont Let The Money Fool You!

Phil's Careers Blog Don’t Let The Money Fool You! By Phil Gerard First printed in Canadian Fundraising and Philanthropy. Read the full article right here: /articles/Don-t-let-the-cash-idiot-you Pay is seldom among the high 5 reasons fundraisers give when requested what motivates them of their job and what makes them stay. In worker surveys I have seen such high motivators as interesting and challenging work, good advancement opportunities, and a great working surroundings. Nevertheless, managers mustn't make the mistake of ignoring the wage issue. Money is still an important foundation. Employees should feel that they are compensated pretty relative to their obligations and performance. Compensation within the fundraising profession and even inside sectors varies. For instance, the well being and education sectors are competitive in salaries. That usually pressures other sectors and organizations to comply with swimsuit. Organizations need to remain on the pulse of compensation and conduct common wage reviews. We don't wish to disco ver out the exhausting way when people start leaving. But to these colleagues who think about accepting a brand new job provide â€" beware! Sometimes the offer seems higher than it really is! It is crucial to have a look at the whole bundle if you’re contemplating leaving a job for a greater salary elsewhere. Monetary compensation is only one part of the package. Your current employer may have decrease salaries however offer advantages that outrank the other supply. Consider these 5 points when making your decision. Pensions Many organizations don't have a pension plan or at greatest contribute a small share to an RRSP. Other organizations have defined benefit or defined contribution plans. The latter is turning into extra frequent now, whereas the previous is extra enticing for employees as a result of at retirement a hard and fast monthly earnings is assured for life. Some organizations ask their employees to contribute and match or double their contribution, while other organiz ations contribute a hundred%. That can make a big difference on your paycheck. Organization-particular perks Many organizations have their own distinctive monetary advantages. Universities and personal faculties typically provide tuition waivers to faculty, staff, and their dependents. If you could have children of university age, and even better, several youngsters going to university at the identical time, a tuition waiver can mean massive savings for your family. Think about what special perks you might be at present having fun with at your organization and that solely your group can offer (gym membership, daycare, well being spending account, paid Internet, pc, iPad, professional growth) and how essential these benefits are for your backside line. Extended health Some advantages are less clearly advertised or perhaps buried in a coverage handbook with an prolonged health plan supplier. Depending on the needs of a selected employee or her household, these benefits can translate i nto large financial savings. I even have heard from colleagues who defined how their plan covers a number of hundreds of dollars a 12 months in companies for their family member with particular needs. It is worth it exploring the nice print. You may depend on such advantages and uncover later that your new employer’s plan doesn't cowl these services or solely a fraction of it. Vacation The new job would pay $5,000 extra a year however your vacation is down from five weeks to 2. Some organizations may be much less aggressive in salary however their workers enjoy further-lengthy holidays. The financial worth of the vacation time plus the savings in time and bills that working requires shouldn't be ignored. And then in fact there's a whole different level to contemplate â€" your life-style and wellbeing. The “signature expertise” Again, we have to look at the whole package. In addition to the advantages there are issues that cannot be quantified in dollars, like flexibility. Mayb e your group enables you to work a day every week from home (or all the time), or have a flexible schedule to accommodate your commute, day care or family situation. A great article by Tamara J. Erickson and Lynda Gratton known as “What it Means to Work Here” printed in the Harvard Business Review discussed what not only makes people keep in a job and in a company but also helps them turn into an engaged employee. The authors introduce the time period “signature expertise” â€" what units the organization aside for you as an worker. The article discusses the instance of JetBlue Airlines. Competitive compensation was definitely not a strategy the group could afford. Bigger airways could easily trump what JetBlue could provide. Instead, JetBlue carried out a home-primarily based ticket agent system to supply their employees flexibility, work-life steadiness and comfort. Professionals who chose Jet Blue as an employer have been looking for this signature experience. For these st aff it is doubtless that more than a cash incentive can be wanted to recruit them to another airline. So at the time of your subsequent job supply, take a number of moments to contemplate the whole bundle, including the signature experience you now get pleasure from. It isn't just about how much we make and how much we take residence however how happy we are doing it. Post navigation Fill in your details beneath or click on an icon to log in: You are commenting utilizing your WordPress.com account. (Log Out/ Change) You are commenting utilizing your Google account. (Log Out/ Change) You are commenting utilizing your Twitter account. 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