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Merit Increases 2014

Merit Increases 2014. Values and At Our Best tools to guide us. Collaboration – We work together. Integrity – We build confidence and trust in all interactions. Merit increases. The new normal. 2.5%. 2.4%. Market Average*. 2.5%. 2.2%. 2.1%.

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Merit Increases 2014

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  1. Merit Increases 2014

  2. Values and At Our Best tools to guide us Collaboration – We work together Integrity – We build confidence and trust in all interactions

  3. Merit increases The new normal 2.5% 2.4% Market Average* 2.5% 2.2% 2.1% * Market average based on Wisconsin hospital data.

  4. Who is eligible? Eligible • Staff who have been employed in the same position for the past 12 months. • Staff hired or promoted prior to July 1, 2013. Not Eligible • Staff hired or promoted July 1, 2013 or later. • PRNs, interns and positions paid at a flat rate. These rates are adjusted based on market.

  5. Prorated merit increases Staff hired or promoted prior to July 1, 2013: Prorated merit increase % = merit increase % x proration factor Proration factor = # of days from start date to merit increase date/365 days. _______________________________________________________________ For example: Start date = April 1, 2013 Performance review = level 3 Merit increase % = (2.75% x (279 days/365 days)) Merit increase % = (2.75% x .764) Merit increase % = 2.1%

  6. Prorated merit increases Another example: Start date = October 1, 2012 Performance review = level 3 Merit increase % = (2.75% x (461 days/365 days)) Merit increase % = (2.75% x 1.263) Merit increase % = 3.47%

  7. Grades and ranges Salary ranges Grades Midpoint Minimum Maximum

  8. Below salary range minimum • Adjust to new salary range minimum • Apply merit increase ____________________________________________________ Q: Do new hires receive an adjustment to minimum if they are not eligible for a merit increase? A: Yes, everyone’s pay is adjusted at least to the minimum of the range.

  9. At or over salary range maximum

  10. Example of merit bonus calculation FTE (as of 1/5/14): 1.00 2013 rate: $20.38 Merit increase %: 2.75% Merit increase % applied to base: 1.5% 2014 salary range: $14.25 – 17.48 – 20.68 2014 rate (as of 1/5/14): $20.68 (new maximum) Merit bonus amount: $270.40 ((current rate x (1+ merit %)) – range maximum) x (2080 x FTE) x .5 ((20.38 x 1.0275) – 20.68) x (2080 x 1) x .5 (20.94 – 20.68) x 2080 x .5 = 270.40

  11. Next steps for leaders • Access the new rates and ranges for your direct reports through manager self service. MSS/compensation history/direct reports compensation • Have a one-on-one conversation with staff about their merit increase.

  12. Talking points for leaders • Merit increases were approved in December as part of Children’s overall budget. Level 4: 3.25% Level 3: 2.75% Level 2: .5 % Level 1: 0% • Salary ranges will adjust about 1.5 percent • Salary and merit increase information is available on Employee Self Service as of Jan. 10.  and will be reflected on the Jan. 24 pay statement. • As an organization, we look at the market each year to ensure our Total Rewards package –which includes everything we offer in terms of compensation, benefits, culture and well-being –remains competitive.

  13. Questions? Contact any of the compensation team: • Mary Greifenkamp 414-266-2260 • Anne Gentz 414-266-2268 • Tracey Corlett 414-337-7368

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