Total Rewards Martocchio, J. J. (2013). Strategic Compensation: A Human Resource Management Approach. Upper Saddle River, NJ: Pearson.
Performance & Compensation Compensation Model
VCSU Staff Model Comp FactorPercentExample (3%) TOTAL100%3.00% Across the Board (ATB)50% 1.50% 0.45% 15% 35% 1.05%Merit Market/Equity
Across the Board (ATB) ATB is indiscriminate Employees get 50% of the legislative increase
CUPA HR & Job Service ND salary data –CUPA HR primary for higher education, industry specific positions –Job Service ND for local hire positions common to all industries Compare all positions basis the duties in job description, and education required –Not title, not person Compare all positions to the market median –Not mean
Merit Pay for performance Incentive Pay Links employee pay to measures of performance
Additional Values No employee below an 80% floor. –No ceilings Years of Service (1%/yr.) –Credit not given for low performing year Years merit pay earned performance (3%)
Performance & Compensation Individual & Performance Model
Performance & Compensation Timeline
January-March begin a new review year –Everyone on same timeline (may be some overlap) –One-year from start date –Set goals July 1, 2014 –Merit model takes effect
Questions What is the risk of not changing? If I wait long enough, will the change just go away? What are my choices during the change process? What are the potential consequences to me of not changing? What are the benefits of supporting the change?