Nonprofit Executive Compensation

6-2 Short Paper: Nonprofit Executive Compensation
Author’s Name:
Affiliated Institution:
Course Code:
Date:
6-2 Short Paper: Nonprofit Executive Compensation
Advantages
Effective talent management is one of the main advantages for a not-for-profit corporation that chooses to reimburse their executive wages comparable to their for-profit counterparts. A quest for effective and quality leadership is similar within for-profit and not-for-profit organizations, but non-profit companies require unique leadership dynamics. Hence, the latter organizations must frequently devise strategies to induce their total compensation packages while functioning within the confines of their budget constraints (Martocchio, 2017). Nonprofitable organizations usually serve vital and essential societal needs. Senior executives in these companies are often the voice and the face of the organization. Some of the exceptional qualities and responsivities of these executives include but are not limited to seeking external funding, meeting with the company’s donors, supervising, hiring, and partnering with community members while representing the organization's vision.
Volunteers and members in nonprofitable organizations often have different values and motivational factors than their profitable organizations. They usually share an inherent drive that prioritizes the need to achieve the company's missions with an individual devotion to the community and the purpose they serve. Hence, these unique emotional attributes and investments require that executives in nonprofitable settings share the same drive and passion as the staff they lead (Barrett, 2016). Additionally, these organizational leaders must nurture the charisma to motivate and rally their support to employees who accept various responsibilities and commit to long working hours and earn low wages. My father is employed as the Human Resource Supervisor in one of the nonprofitable local entities located in Houston. T...