Utah Valley University Compensation PhilosophyApproved by President's Council on February 13, 2014
In order to fulfill its mission, Utah Valley University supports a total rewards program to attract, develop, retain, and reward a highly qualified and diverse workforce. Within the boundaries of financial feasibility and sustainability, UVU's compensation strategies must help the university:
- Provide wages, salaries and benefits which are competitive within appropriate labor markets
- Promote internal equity across diverse university functions
- Ensure consistency in meeting compliance requirements while remaining flexible in responding to internal and external workforce changes
To be competitive means:
- Across the University, base salaries will be determined considering median pay rates for comparable positions in defined university labor markets.
- Individual employee base salaries may exceed the median of the particular labor market in order to recognize exceptional recruiting and retention needs or for purposes of attracting and retaining employees in areas where the university is or aspires to be a market leader.
- Performance-based pay programs are primarily determined using judgment of merit guided by regular appraisal of individual work performance based on established standards.
- The comprehensive benefits program will provide key elements (leave, retirement, insurance, etc.) that are comparable within the university's labor market.
To promote internal equity means:
- Within the parameters of discipline, function, and individual effectiveness employees shall be paid similarly for comparable work free from discrimination other than meeting approved minimum position qualifications and the ability to satisfactorily perform the duties and responsibilities.
- Salary offers for selected candidates, both new hires and internal promotions, are established in recognition of the individual's skills and experience while considering the salaries of current employees within the same job classification.
To ensure consistency while remaining flexible means:
- Compensation is allocated in a manner that is compliant with university policy and all applicable legal requirements.
- Compensation plans, practices, and structures may be adjusted to address emerging trends in labor markets, the workforce, and the university and its units.
- Elements of the compensation program must be administratively and financially sustainable in an ever-changing environment.
Acknowledgements: The University of Arizona, University of Denver, University of Michigan, and Case Western Reserve University.