Very interesting article from Tuesday’s New York Times highlighting the trend for “paid volunteerism.â€� The article highlights Frederick A. O. Schwarz Jr., the retired Cravath Partner and heir of the F.A.O Schwarz fortune. Stated Schwarz:
“An organization and a person are simply more committed to each other when the person is paid.�
According to the Times, an ever-growing number of retirees and nonprofit executives believe that this mindset is how modern retirees view nonprofit work. Experts agree that the automatic link between doing good and working for nothing has been permanently severed. The article further states that even the wealthiest retirees insist on being paid for “doing good.�
Interestingly, a Professor at Kenan-Flagler Business School believes the “paid volunteerism mindset� is particularly true of women:
“Volunteer work used to be considered women’s work, so it is not surprising that career women reject the concept.â€�