From the VC:
Investing in a Compensation System that Supports Us All
Riverbats,
At this week's Board of Trustees meeting, I had the opportunity to present a progress report on Guidehouse's work in the ongoing Classification and Compensation study. In addition to sharing procedural information, I wanted to emphasize the study is not just about adjusting job titles or salaries; it's about creating a fair, transparent, and competitive system that supports our most valuable asset - our people.
The challenges we face are complex. For instance, we currently have 227 coordinator positions with 149 unique job profiles. This level of variation makes it difficult to ensure equity and clarity in roles and responsibilities. On the flip side, we have 96 associate positions with only 3 job titles, which may not adequately reflect the diverse contributions of these employees.
Our current compensation system, while aiming for equality based on experience and education, has led to issues with compression and inconsistencies. This is particularly challenging when we consider our long-serving employees who have dedicated years to our institution.
Finding solutions that meet everyone's needs is incredibly difficult. We must balance the desire for individual recognition with the need for institutional consistency. We need to address issues of pay compression without creating new inequities. And we must do all of this while remaining competitive in the job market and fiscally responsible.
The implementation of Workday during the pandemic has added another layer of complexity to our efforts. While this system offers many benefits, we're still working to optimize its configuration to best serve our needs. That's why we engaged Guidehouse to conduct this comprehensive study. Their four-pronged approach, including extensive surveys and focus groups, is helping us understand the full scope of our challenges and identify potential solutions.
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