Triple-F: Benefits and Compensation
Regardless of the industry, the workforce employed by virtually any company represents the keystone of that company’s overall success. For non-profit organizations, however, hiring and maintaining a viable workforce becomes all the more important since the company is often dependent upon the goodwill of its donors and or supporters. In developing this workforce, the chief operating officer (CEO) of the Triple-F Foundation, a public, 501(c)(3) non-profit organization founded to provided financial assistance for the family members of fallen fire fighters, law enforcement, and military personnel, Triple-F must consider not only the knowledge, skills, and abilities of each individual when developing a compensation …show more content…
Recognizing that in addition to managing Triple-F’s burgeoning workforce, the HR department is also responsible for managing the company’s extensive ambassadorial program projected to consist of thousands of volunteers, each of whom must properly represent Triple-F through an effective distance learning and training program. By adding a secretarial position, the HR department will be able to increase support to the ambassador program by nearly 50% resulting in an estimated increase in revenues of approximately $500,000 per year (Rhode & Packel, …show more content…
In addition to the employee’s base pay, that employee will receive health, dental, short and long-term disability, and group life insurance totaling approximately $8,000 in annual company contributions. The company will also contribute approximately $3,500 in retirement benefits to the employees Social Security, Medicare, and 401k accounts. In addition to the mandated $1,800 contributions to workers compensation and federal and State unemployment, Triple-F will also provide approximately $4000 in time off benefits for paid vacation and sick days. While this overall compensation package is somewhat modest compared to for-profit organizations in the national capital region, this package should enable Triple-F to attract the right applicants for the position (Inc. Staff,
Regardless of the industry, the workforce employed by virtually any company represents the keystone of that company’s overall success. For non-profit organizations, however, hiring and maintaining a viable workforce becomes all the more important since the company is often dependent upon the goodwill of its donors and or supporters. In developing this workforce, the chief operating officer (CEO) of the Triple-F Foundation, a public, 501(c)(3) non-profit organization founded to provided financial assistance for the family members of fallen fire fighters, law enforcement, and military personnel, Triple-F must consider not only the knowledge, skills, and abilities of each individual when developing a compensation …show more content…
Recognizing that in addition to managing Triple-F’s burgeoning workforce, the HR department is also responsible for managing the company’s extensive ambassadorial program projected to consist of thousands of volunteers, each of whom must properly represent Triple-F through an effective distance learning and training program. By adding a secretarial position, the HR department will be able to increase support to the ambassador program by nearly 50% resulting in an estimated increase in revenues of approximately $500,000 per year (Rhode & Packel, …show more content…
In addition to the employee’s base pay, that employee will receive health, dental, short and long-term disability, and group life insurance totaling approximately $8,000 in annual company contributions. The company will also contribute approximately $3,500 in retirement benefits to the employees Social Security, Medicare, and 401k accounts. In addition to the mandated $1,800 contributions to workers compensation and federal and State unemployment, Triple-F will also provide approximately $4000 in time off benefits for paid vacation and sick days. While this overall compensation package is somewhat modest compared to for-profit organizations in the national capital region, this package should enable Triple-F to attract the right applicants for the position (Inc. Staff,