{"id":5104,"date":"2016-09-26T19:58:49","date_gmt":"2016-09-27T00:58:49","guid":{"rendered":"http:\/\/blogs.acu.edu\/hr\/?p=5104"},"modified":"2016-09-26T19:59:16","modified_gmt":"2016-09-27T00:59:16","slug":"5104","status":"publish","type":"post","link":"https:\/\/blogs.acu.edu\/hr\/2016\/09\/26\/5104\/","title":{"rendered":"Draft Compensation Philosophy Statement"},"content":{"rendered":"<p>ACU\u2019s compensation philosophy will support our core mission of educating students for Christian service and Christ-centered leadership throughout the world so that \u201cBy 2020, ACU will become the premier university for the education of Christ-centered, global leaders\u201d. In keeping with our values as a Christian university, our mission and our vision ACU seeks to accomplish two goals through its administrative and operational employee compensation plan:<\/p>\n<ul>\n<li><span style=\"font-weight: 400\"> \u00a0\u00a0\u00a0\u00a0\u00a0<\/span><span style=\"font-weight: 400\">Attract, retain and motivate a highly talented, diverse workforce and,<\/span><\/li>\n<li><span style=\"font-weight: 400\"> \u00a0\u00a0\u00a0\u00a0\u00a0<\/span><span style=\"font-weight: 400\">Encourage and reward workplace activities that support the university\u2019s overall goals and objectives,<\/span><\/li>\n<\/ul>\n<p>so that ACU provides the finest education and Christ- centered environment for our students.<\/p>\n<p><span style=\"font-weight: 400\">Our ethos is woven into the fabric of work at ACU. Each administrative and operational staff member will exemplify our ethos by working together for the benefit of our students and faculty. The university will deliver administrative and operational services efficiently, effectively, honorably and transparently. We will strive to become the employer of choice. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Our administrative and operational employee (staff) compensation plan will be rooted in these guiding principles:<\/span><\/p>\n<p><b>Mission alignment<\/b><span style=\"font-weight: 400\">: ACU recognizes that our staff is a key element in accomplishing our mission and realizing our vision. Accordingly, our compensation policies and processes for our staff will align with and exemplify the values of ACU while simultaneously enabling ACU\u2019s 21<\/span><span style=\"font-weight: 400\">st<\/span><span style=\"font-weight: 400\"> Century Vision.<\/span><\/p>\n<p><b>Transparency:<\/b><span style=\"font-weight: 400\"> ACU will design, communicate and administer the staff compensation plan in a competent, consistent, and impartial manner.<\/span><\/p>\n<p><b>Justice:<\/b><span style=\"font-weight: 400\"> ACU will strive to compensate staff with a living wage that is just and fair. Compensation will be based on individual job performance, skills and abilities.<\/span><\/p>\n<p><b>Market Competitiveness: <\/b><span style=\"font-weight: 400\">ACU will strive to match the market in our recruiting region. Our staff compensation will be competitive with peer institutions.<\/span><\/p>\n<p><b>Financial Sustainability<\/b><span style=\"font-weight: 400\">: ACU will plan and administer staff compensation packages in a financially sustainable manner to ensure good budgetary stewardship and financial stability.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Successfully implementing our staff compensation plan will require designing an implementation strategy that has these goals\u2026<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400\"> \u00a0\u00a0Articulate an effective, finite, measurable set of total compensation goals for ACU\u2019s staff employees.<\/span><\/li>\n<li><span style=\"font-weight: 400\"> \u00a0\u00a0Develop an effective, mandatory system for assessing staff employee performance with sound and capable supervision of every employee, clearly communicated expectations between the University and the employee, and specific expectations between supervisor and employee.<\/span><\/li>\n<li><span style=\"font-weight: 400\"> \u00a0\u00a0Regularly assess ACU\u2019s staff employment competitiveness, based not only on compensation, but other measures as well (e.g. recruitment and retention). This process should be a data-driven and quantifiable.<\/span><\/li>\n<li><span style=\"font-weight: 400\"> \u00a0\u00a0Examine, implement, and assess innovative human resource practices that lead to opportunities for career growth, a positive and safe workplace environment, employee recognition, respect from supervisors and co-workers, a positive campus climate, and good communication.<\/span><\/li>\n<li><span style=\"font-weight: 400\"> \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Build a strategic budget that allows for a competitive and equitable total compensation package, effective professional development of employees and a positive work environment<\/span><\/li>\n<li><span style=\"font-weight: 400\"> \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Reviews the progress of these and other compensation-related issues on at least an\u00a0<\/span>annual basis.<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"> \u2026 and follows this step by step process:<\/span><\/p>\n<ol>\n<li><span style=\"font-weight: 400\">Conduct job analysis: this is the process of gathering, examining and interpreting data about each job\u2019s tasks and responsibilities. It will include tracking an employee\u2019s duties and the duration of each task, observing the employee performing his or her job, interviewing the employee, managers and others who interact with the employee and comparing the job to other jobs in the same department and job grade or job family.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Group into job families: Once the university feels confident that it has current and accurate job descriptions, it will group the jobs into separate job families, e.g., information technology, office\/ administrative support.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Rank positions<\/span><i><span style=\"font-weight: 400\">: <\/span><\/i><span style=\"font-weight: 400\">A job evaluation is the process of rank ordering the jobs, not the people, based on job content to demonstrate the relative worth and level of responsibility of all jobs to one another. There are a number of job evaluation methods; ACU will follow the Hay point method system, which uses only three factors and measures the degree that these three factors are required for each position. The Hay system factors are know-how, problem-solving ability and accountability.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Conduct market research:<\/span> <span style=\"font-weight: 400\">Conducting market research ensures that wages paid to staff employees are comparable to similar positions in the marketplace. When conducting market research on salaries, will consider the following:<\/span><\/li>\n<li><span style=\"font-weight: 400\">Job titles vary between organizations. ACU will scrutinize the descriptions of the jobs surveyed to make sure that the related tasks, functions and level of responsibility match positions at the university.<\/span><\/li>\n<li><span style=\"font-weight: 400\">To obtain current, accurate salary information, ACU will need to purchase salary data and will in some cases conduct its own market research.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Whenever possible, ACU will try to obtain information from more than one market survey resource, at least for benchmark positions.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Create job grades: ACU will use its job evaluation data to group positions within each job family into job grades. The university will note the range of pay in the salary surveys and all the information that may be relevant when establishing an average salary. ACU will use the 50th percentile in salary survey data to meet the market.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Create a salary range: For each pay grade, ACU will establish a midpoint, a minimum and a maximum pay range.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Conduct out of range analysis: At this stage in the process, ACU will take a look at what it is paying its staff employees in comparison to the data it has collected and the proposed salary grades and ranges for positions. ACU will rely on the market data and its pay philosophy to set these ranges.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Updating and aging (refresh the plan): Salaries never remain unchanged. The rate of pay is constantly changing with external market and economic activity; hence salary survey data will be gathered and reviewed every two to three years so that appropriate adjustments can be made to ACU\u2019s salary ranges.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Communicate the job grade structure, salary ranges, and market comparison data to the staff, and make the information available.<\/span><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>ACU\u2019s compensation philosophy will support our core mission of educating students for Christian service and Christ-centered leadership throughout the world so that \u201cBy 2020, ACU will become the premier university for the education of Christ-centered, global leaders\u201d. In keeping with our values as a Christian university, our mission and our vision ACU seeks to accomplish [&hellip;]<\/p>\n","protected":false},"author":5034,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6384],"tags":[6386],"class_list":["post-5104","post","type-post","status-publish","format-standard","hentry","category-classification-compensation-project","tag-class-comp"],"_links":{"self":[{"href":"https:\/\/blogs.acu.edu\/hr\/wp-json\/wp\/v2\/posts\/5104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.acu.edu\/hr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.acu.edu\/hr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.acu.edu\/hr\/wp-json\/wp\/v2\/users\/5034"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.acu.edu\/hr\/wp-json\/wp\/v2\/comments?post=5104"}],"version-history":[{"count":2,"href":"https:\/\/blogs.acu.edu\/hr\/wp-json\/wp\/v2\/posts\/5104\/revisions"}],"predecessor-version":[{"id":5106,"href":"https:\/\/blogs.acu.edu\/hr\/wp-json\/wp\/v2\/posts\/5104\/revisions\/5106"}],"wp:attachment":[{"href":"https:\/\/blogs.acu.edu\/hr\/wp-json\/wp\/v2\/media?parent=5104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.acu.edu\/hr\/wp-json\/wp\/v2\/categories?post=5104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.acu.edu\/hr\/wp-json\/wp\/v2\/tags?post=5104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}