Are you interested in studying to be a payroll administrator, but not sure where you’d want to work after graduating?
Graduates from accounting and payroll administrator programs can choose to work in a number of sectors, including the government, business, or accountancy industries to name a few.
Those looking for a rewarding career with plenty of learning opportunities may choose to work for a non-profit organization. In contrast to a regular business, these organizations do not focus on making a profit through selling a product or service.
Instead, non-profit organizations are dedicated to making a positive impact, and working towards one key mission. Here are a few of the reasons why you may want to take the next step in your payroll career with a non-profit.
Make a Positive Impact Working for a Cause you Care About
There is an estimated more than 170,000 charity and non-profit organizations in Canada, covering a diverse range of causes. Whether you’re passionate about helping the less fortunate, the arts, or the environment, there’s sure to be a non-profit out there for you.
This means that you can dedicate the skills you learn during payroll administrator training towards a cause that you truly care about. Individuals working in something that they’re passionate about tend to find their work more rewarding and report higher job satisfaction.
In addition, depending on the non-profit organization you work for, you may also see the difference your hard work makes in the community.
Gain New Skills in a Non-Profit After Your Payroll Administrator Diploma
Working at a non-profit organization is a great learning opportunity and will help you to further develop your skills after completing a payroll administrator diploma. This is because non-profit organizations tend to be smaller than other companies, and require all staff to work together across different business functions.
Not only will you be responsible for tracking financial transactions and making sure all staff are paid, but you may also gain useful insights into fundraising and marketing. These skills could prove useful as you advance through your career.
Differences Between a Non-Profit and For-Profit Business
Although your job role may be the same, there are some major differences between being a payroll administrator for a non-profit and a for-profit organization.
At a regular business, the stakeholder has importance, whereas at a non-profit the main priority is the cause and the board members. This impacts the way that business is done and your role as a payroll administrator.
Non-profit organizations are also tax-exempt, and therefore must demonstrate a high level of financial transparency. All financial records need to prove the organization’s commitment to its charitable purpose through its finances.
The main sources of revenue for a non-profit organization also differ to that of a regular business. Revenue tends to comes from donations, membership dues, investment income and proceeds from fundraising events. Charitable donations must be recorded as either unrestricted, or temporarily or permanently restricted.
Payroll is almost the same, however employees shouldn’t expect bonuses or commission. This is because all extra profits will go straight towards the charitable cause.
Are you interested in studying payroll administrator courses?
Contact Canadian Business College to find out more!