| Only 11% of not-for-profits plan to increase hiring in next six months and half plan to reduce bonus |
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03/11/2009 12:17 (18 Day 04:53 minutes ago) | |||||
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The FINANCIAL -- In a survey of not-for-profit CFOs and senior comptrollers conducted by Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd, only 11 percent say their organization will increase hiring in the next six months and half (51%) plan to reduce bonuses.
At the same time, while more than half (55%) believe the U.S. economy will improve; only a quarter (28%) expect their organization's financial prospects to improve during the same time period - making non-profits one of the most optimistic industries on the national economy, but also one of the most pessimistic about their own industry's outlook.
More than one-third (36%) are reducing health care benefits and nearly a quarter (22%) are reducing 401(k) matches. In terms of pricing pressure, they are most concerned about the cost of employee benefits (85%), such as health care and pension costs.
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