Nonprofit Employees Lack Confidence In Retirement Planning
According to a study released today by the
The Financial Security and Careers in the Nonprofit and Philanthropic Sector survey polled 1,000 full-time employees (age 21 and older) in the nonprofit and philanthropic sector on their motivations and satisfaction in the workplace, including their plans, preparation and readiness for retirement. The nonprofit and philanthropic sector consists of 1.6 million organizations, including charities, foundations and professional associations, and employs approximately 10 percent of the U.S. workforce.
According to the survey, while about 59 percent of sector employees are very or extremely satisfied with their current employment, nearly one-half of employees have considered leaving the sector to receive greater compensation elsewhere.
Career advancement is another concern among nonprofit and philanthropic employees. More than 90 percent of sector employees say personal satisfaction with their organization's mission is a central driver for their career decisions, but only 30 percent are very or extremely satisfied with career advancement opportunities.
"The survey indicates that while nonprofit employees are satisfied overall with their jobs, they have concerns about their ability to retire comfortably," said
"Unfortunately, concerns about financial security can undermine the sector's ability to attract and retain the most talented individuals to address the tough challenges we face," said
"Nonprofit organizations are a vital and growing part of every community," said
The full research report can be downloaded on the Institute's website.(http://www.tiaa-crefinstitute.org/ucm/groups/content/@ap_ucm_p_tcp_docs/documents/document/tiaa04045883.pdf)
TNS-LE 130115-4167058 StaffFurigay
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