Download 2017 Salary Grade Presentation

FURMAN UNIVERSITY
Compensation Structure and
Merit Process - 2017
INTRODUCTION
Compensation Study
Salary Grades
Annual Increases
INTRODUCTION
In 2015, Furman University partnered with Towers
Watson, a global professional services firm to
perform a market assessment of jobs throughout
the organization.
The primary objectives were to assess the
competitiveness of Furman’s compensation levels,
and to establish market-based salary ranges for
jobs.
INTRODUCTION
Furman HR met with managers to determine appropriate
matches based on descriptions provided in the College
and University Professional Association (CUPA).
Additional survey matches were gathered by Towers
Watson using multidiscipline surveys from their own
organization and Mercer.
Salary data was compiled from these surveys, utilizing the
appropriate labor market.
MARKET DATA
Towers Watson provided market data for benchmark
positions. Standard market data control points include the
25th percentile, median and 75th percentile.
Salary Data for Widget Maker
$20,000 $22,000 $24,000 $26,000 $28,000 $30,000 $32,000 $34,000 $36,000
25th percentile
Median
75th percentile
SALARY GRADES
Internally, Furman HR developed Salary Grades.
Salary grades are used to group jobs of similar responsibility, requirements,
experience level and market range data.
Grades have three control points: Minimum, Midpoint, Maximum
SALARY GRADES (2016)
12
11
10
9
8
7
6
5
4
3
2
1
$18,000
$38,000
$58,000
$78,000
$98,000
$118,000
$138,000
$158,000
GRADE CHART
Grade
1
2
3
4
5
6
7
8
9
10
11
12
Min
20,000
23,000
26,500
30,000
34,600
40,100
45,700
53,000
61,400
70,200
81,800
95,300
Mid
25,000
28,800
33,100
38,200
44,100
51,200
59,300
68,900
79,900
93,000
108,400
126,300
Max
30,000
34,500
39,700
46,400
53,600
62,200
73,000
84,700
98,300
115,900
135,000
157,200
GRADE CHART – HOURLY RATE
Grade
1
2
3
4
5
6
7
8
9
10
11
12
Min
9.62
11.06
12.74
14.42
16.63
19.28
21.97
25.48
29.52
33.75
39.33
45.82
Mid
12.02
13.85
15.91
18.37
21.20
24.62
28.51
33.13
38.41
44.71
52.12
60.72
Max
14.42
16.59
19.09
22.31
25.77
29.90
35.10
40.72
47.26
55.72
64.90
75.58
GRADES – 2017
Grades will be updated at the start of the fiscal
year, July 1.
Grades will be adjusted 1.0% (rounded to the
nearest $100). The percentage is based on the
increase in the cost of living.
SALARY INCREASES
Salary increase percentages are based on three metrics:
 Cost of Living
 Employee Performance
 Employee position within the salary grade
 Furman has implemented a plan to address those employees who fall below
their grade minimum
 For 2017, the cost of living and merit increase categories are combined.
NEW FOR 2017
Numeric Performance Ratings
NEW FOR 2017
NEW FOR 2017
Numeric Performance Ratings
Accomplished
Exemplary
Needs
Improvement
Score
75
Score
132
Score115
44 ---114
74
NEW FOR 2017
Cost of living and Merit Increase
categories combined into one merit pool.
NEW FOR 2017
Stipends for staff over grade maximum will be an
amount at managers’ discretion (within guidelines).
SALARY INCREASES
For employees below the salary grade minimum:
Performance Rating
Base Salary Increase
Accomplished (score 75 – 114)
6.00%
Exemplary (score 115 – 132)
7.00%
SALARY INCREASES
For employees within the salary grade:
Discretionary Pool
Of up to
4.00%
SALARY INCREASES
For employees above the salary grade maximum:
Performance Rating
Base Salary Increase
Accomplished (score 75 – 114)
Up to 2.00% One Time Stipend
Exemplary (score 115 – 132)
Up to 2.50% One Time Stipend
SALARY GRADES (2017)
12
11
10
9
8
7
6
5
4
3
2
1
$18,000
$38,000
$58,000
$78,000
$98,000
$118,000
$138,000
$158,000
GRADE CHART
Grade
1
2
3
4
5
6
7
8
9
10
11
12
Min
20,300
23,300
26,900
30,500
35,100
40,700
46,400
53,800
62,300
71,300
83,000
96,700
Mid
25,400
29,200
33,600
38,800
44,800
52,000
60,200
69,900
81,100
94,400
110,000
128,200
Max
30,500
35,000
40,300
47,100
54,400
63,100
74,100
86,000
99,800
117,600
137,000
159,600
GRADE CHART – HOURLY RATE
Grade
1
2
3
4
5
6
7
8
9
10
11
12
Min
9.76
11.20
12.93
14.66
16.88
19.57
22.31
25.87
29.95
34.28
39.90
46.49
Mid
12.21
14.04
16.15
18.65
21.54
25.00
28.94
33.61
38.99
45.38
52.88
61.63
Max
14.64
16.83
19.38
22.64
26.15
30.34
35.63
41.35
47.98
56.54
65.87
76.73