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A non-profit is an organization that is not required to pay taxes on the basis that its business benefits the broad public interest. The not-for-profit organization industry includes establishments as massive as the American Red Cross as well as local soup kitchens, houses of worship, and community hospitals.
These passionate individuals are uncommon in the everyday workplace; if companies want to bring in employees who are hardworking and dedicated, they'll need to offer a comprehensive benefits package.
It is important to note that these organizations have a higher percentage of part time employees. Usually their boards play a very influential role in who the insurance broker is and the RFP process as well as likely participate in the benefit and insurance carrier plan selection.
There are 45,000 non-profit organizations nationwide, employing 414,000 professionals. On average, each organization is small, with only 9 staff members, and the average employee age is 42 years old.
25% of these employers offer short-term disability coverage, and 19% offer long-term disability insurance. The national average is 42% and 34%, respectively.
32% offer access to a life insurance plan. Comparatively, the national average is 56%.
All in all, the non-profit organization industry is well below the national average when it comes to providing comprehensive benefits packages to their employees. There is a lot of room for improvement, as non-profit employers must increase their benefits offerings as a way to not only meet their employee’s needs but make them feel valuable and secure in their workplace.
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