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Staff Compensation Plan

Staff Compensation Plan. Belmont University. Compensation Plan Development. How was a compensation plan developed in 2001? Developed a compensation philosophy Senior Leadership identified core values Defined competitive market Collected job information

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Staff Compensation Plan

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  1. Staff Compensation Plan Belmont University

  2. Compensation Plan Development • How was a compensation plan developed in 2001? • Developed a compensation philosophy • Senior Leadership identified core values • Defined competitive market • Collected job information • Job Descriptions were developed for every position on campus • Collected salary information (local and national) • College & University Professional Association (CUPA) Surveys • Private, religious, similarly sized with regard to enrollment and budget • Middle TN Compensation Association (MTCA) • Nashville Area Wage and Salary Survey • Atlantic Sun Conference Coaches Salary Survey • Economic Research Institute, National Database of Compensation

  3. Broadbanding Compensation System • 8 groups or “broad bands” • Similar levels of responsibility and pay • Varied types of jobs may be functionally different • Factors are similar for all jobs within the band or group • Scope/complexity • Financial impact • Interpersonal focus/customer orientation/communication • Leadership responsibility • Education/knowledge/skills • External market pay is similar for all jobs in group

  4. Why Broadbanding? • Former compensation system used a highly structured 28-grade system with across-the-board raises • Comments indicated staff wanted to be rewarded for good work and to be paid fairly compared to the market • Compensation Plan instituted 2001 • Fairness and consistency • Pay for performance • Supports manager/employee communication • Market competitive • Emphasizes career development

  5. Staff Pay Job Individual Internal Value External Value Individual Performance Job Value Performance Rating Pay

  6. Benchmark Jobs(most colleges/universities have these)

  7. Benchmark Jobs (continued)

  8. Titles • Individuals may have two titles • Standard HR Title for consistency and internal equity • Functional Title as shown on business cards • SCT Banner stores both

  9. HR Titles (examples)

  10. Compensation Components • Base Pay • Merit raises • Promotion pay • Career development pay • All base pay increases require VP/Provost approval

  11. Annual Merit Pay Process • University develops: • Total merit pay budget • Rules/Guidelines for raises • Supervisor responsibilities: • Conduct performance review and turn in to HR by April 15th • Supervisor recommends raises and sends to Dean/VP for final approval by April end • Employee role: • Prepares for and participates in performance review • Merit Raises are effective in June payroll

  12. Promotional Increase(higher band) • Employee moves to a job in a higher band • Employee posts to different job • Employee promoted within the department • Permanent job change • Added responsibilities • Increase in skills/competencies • Supervisor approves increase within university guidelines • Raise effective on the first day of the new job

  13. Career Development Pay (within same band) • Option I • Achieve career milestone (examples) • Professional certification or degree (related to job) • Significant skill acquisition or competency in current job • Assumes significantly greater responsibilities • Option II • Transfer to different job within same band • Supervisor approves increase within university guidelines • Raise effective when approved

  14. Questions and Answers • Training for managers is covered in the online Manager’s Toolbox & workshops each semester. • Compensation Plan information sessions for staff are offered each semester. • Departmental information sessions are available by contacting HR.

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