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CLASSIFICATION AND COMPENSATION
UPDATE ON STUDY July 1, 2008 : MGT Third Phase
PRESIDENT’S ANNOUNCEMENT
President Ronald M. Zaccari is pleased to announce that for the third consecutive year, increases to faculty and staff salaries will be made effective July 1. Nearly $1.7 million was requested through the University’s strategic planning process, which will be directed toward increasing the benchmarks for the faculty salary study and the staff salary study. Faculty and staff who have salaries below the new benchmark established for comparable positions will be affected. By July 2008, VSU will have increased faculty and staff salaries by more than $3.2 million in new money, impacting more than 900 faculty and staff since 2006.
Faculty and staff will receive a letter from the Office of the Vice President for Academic Affairs or the Office of Human Resources and Employee Development by the end of July regarding their adjustment. If you have additional questions, you can contact the Office of the Vice President for Academic Affairs (for faculty questions) or Jamie Tanner, Classification Analyst, in the Office of Human Resources and Employee Development (for staff questions)
MGT NEXT PHASE
One of the last phases in the MGT salary study is the application of positions to the benchmarked market value. Those employees who have been in their current positions for more than three years were brought to the market value of the position. The market values were calculated and provided by MGT as part of the salary study. This move has relieved some of the salary compression issues that resulted from the previous phases. Over 150 positions were increased as a result of this process.
Hand in hand with the market value increases, all staff salaries were increased as a result of another application of the MGT salary study. MGT suggested that all paygrade minimums be raised to reflect increases in the economy. These increases are measured and reflected by the consumer price index. Raising the base minimums would increase the likelihood of salary compression. Due to this effect it was determined that all staff salaries should be raised by the same amount, thus preventing compression between newly hired employees and current employees.
Effective on July 1, 2008 all staff salaries will be raised 4%. This percentage was calculated based on the 2% consumer price index value for 2006 and 2% of the consumer price index for 2007.
As always merit increases will be effective on January 1, 2009. The letter you will be receiving will show this increase as well.
During the next several years and as the budget allows, position titles will be reviewed and benchmarking will begin again to ensure that salaries remain as competitive as possible. Adjustments to the base salaries will also be reviewed utilizing the consumer price indices.
ADDITIONAL RESOURCES
Compensation
Template Letter Sample
MGT first phase
MGT second phase