Friday, September 2, 2011

The Stewardship of Faculty and Staff

It is no secret that Christian schools (and other ministries) do not pay market wages for their dedicated and capable staff. We assume that they are "in it for the ministry". In fact, many are, but that is no reason not to compensate them well for their labors.

Salary is only one component of compensation. Here are valuable benefits that figure into total compensation:


  • Free or reduced tuition or trade-off against salary. Valuable and non-taxable (at least for now)

  • Health insurance and flexible spending accounts for co-pays and deductibles

  • Short and Long-term disability - generally very low cost since teachers tend to be young

  • Life insurance - $50,000 in coverage can be very cost-effective

  • Retirement plans (i.e. 401K) where the employees' contributions are matched by the school

If your school does not offer these, it could be another way of declaring how you value your staff and their contribution to the school.


Further, you may find an exceptional benefits organization (as have we) who will also provide financial counsel and advice.


Lastly, there may be a donor who sees the need to provide these kinds of benefits who would step up and help underwrite the cost. You don't know until you ask.


Caring for employees is the good stewardship of our most valuable assets.

No comments:

Post a Comment