Tuesday, April 7, 2009
Today's job market does not look pretty. For nonprofit organizations, the picture is far from pretty!
Yesterday's Non Profit Times took an insightful look at the current job market, with special focus on the nonprofit sector. The report makes an interesting observation: the economic downturn might bring some benefits to the nonprofit sector -- at least as far as personnel is concerned. According to the Times:
The economic crunch might help bring much needed talent into the nonprofit leadership ranks. Organizations will need an estimated 640,000 senior managers during the next decade, according to a 2006 study conducted by The Bridgespan Group. Even with sector consolidation, people working longer and conservative turnover rates, the survey expects at least 330,000 new managers will be needed to fill in leadership gaps.
The report also noted that certain factors could influence the impact the economic downturn is having on jobs in the nonprofit sector:
The degree of impact on the job scene in the nonprofit sector depends on the geographic location and specific link with corporate donors. For example, the Bernard Madoff investment scandal is hurting nonprofits in New York and Florida but not affecting California as much. Job losses in Las Vegas are hurting nonprofits in Nevada, while the housing deflation hit groups in Georgia.
As regards educational institutions, the report states:
The niche area of professional research universities either has a hiring freeze, or like Harvard University, sent word that budgets are about to be cut, according to Katina Leodas, president of the Leodas Search Group in Boston. Academic medical centers aren’t using the word cuts, although growth has slowed.