We are pleased to provide the campus community with another update regarding our work with Sibson Consulting on the staff compensation study. As previously communicated, this initiative began in early March and is expected to run through early 2018.
Great progress continues on the review and assessment of the staff compensation program. In October, the Senior Leadership Team and Board of Trustees reviewed the revised compensation philosophy. This philosophy will guide the approach and decisions we make about administering compensation in support of our mission, values, and strategic priorities. Minor adjustments to the philosophy may be made as we continue with our assessment. At the end of our study, we will share the final compensation philosophy with staff in support of our continued commitment to transparency, inclusion, and unity.
Our next steps are to further review, analyze, and refine the peer groups of institutions for compensation comparisons. We’ve had some thoughtful conversations with the Senior Leadership Team and will continue to make progress on the analysis of the peer group over the next few weeks.
The results of the market assessment and new draft salary structure will soon follow after peer group approval. We ask for your continued support and responsiveness in the next few months as we will be engaging managers in the process of validating and confirming new grade assignments for positions. This is an “all hands on deck” request to help us finalize the structure.
Please keep in mind that a new salary structure or grade assignment does not mean that individual salaries will automatically increase or decrease. As part of the implementation plan, we will be determining a course of action that meets the needs of the College and is fiscally responsible. While any changes will likely be implemented over time based on budget availability, we will work with key stakeholders to ensure areas and positions that are furthest behind market competitive levels will be prioritized accordingly.
Again, we will continue to keep you informed of our progress on the compensation study through regular updates. We are pleased with the progress of the study and appreciate your continued support. Please feel free to contact Cindy Reckdenwald at (4-3850) or Maura Fetsko at (4-3483) if we can provide any additional information or answer any questions.
https://www.ithaca.edu/intercom/article.php/20171121082549123