Faculty Merit Raises free essay sample

Before dispensing out the merit awards based on the professors’ performance. I decided to implement a new policy. This policy will be put into effective immediately due to wide range in salaries of the professors at the University. The new policy states the following rules in regards to the performance appraisal and merit awards for professors at Small State University: 1. Each professor at the University performance will be reviewed and appraised six months from the date of hire, upon completion of the probationary period at 12months, and annually thereafter. The annual anniversary date of hire or promotion will serve as the basis for the appraisal period. 2. Appraisal should be used as tools to encourage communication between professors and their direct supervisors. Evaluation interviews should also be used as a time to discus career development potential and advancement goals with employees (ex. Department Chair, Dean of the College, etc. ) 3. There will be a direct link between salary and wage increases and annual performance evaluations through a merit increase. We will write a custom essay sample on Faculty Merit Raises or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Professors that have not reached the maximum pay rate within the salary rate will be eligible for a merit pay increase of 0%-5%. Merit pay increases will not exceed the top of the pay range of the employee. Professors who would be eligible for a 4% or 5% merit increase due to an overall performance rating of Far Exceeds Standards, and who are at the top of their pay range or would exceed the top of their pay range with the implementation of the merit increase, will be eligible for a lump sum payment of up to 1% of their base pay. The lump sum payment will not exceed the amount the merit increase would have provided if the employee were not at the top of the range. The maximum lump sum bonus will be limited to 0. 5% for an overall score of 4% and 1% for an overall score of 5%. Also effective immediately in conjunction with the policy is the new Pay Scale for employees of the university: Profession Minimum Pay Rate Midpoint Pay Rate Maximum Pay Rate 1 (Administrative) $ 30,000 $45,000 $55,000 2 (Professors) $60,000 $85,000 $110,000 3 (Department Chairs) $ 115,000 $130,000 $150,000 4 (Dean of College) $ 150,000 $170,000 $ 200,000 *Career goals and advancement should be discussed during all performance appraisals, but once an employee is nearing reaching the salary cap for their position, the supervisor needs to discuss the changes of the merit awards to the employees. If the employees ops to stay in their current position that are fully aware they that they are still expected to meet and exceed job responsibilities although their merit award will decrease* Merit Awards Professor Houseman- Based on the new policy and their performance review, this professor is eligible for a merit award. The professor has not reached the salary cap for a professor’s salary. On the graphic scale the professor’s average was a 3. 66, which will be rounded up to a 4. The merit for this professor will be calculated as such: $92,000(current salary) X 4% (Merit award) = $95,680 Merit Award Dollar Amount: $3,680 Professor Jones- This professor stepped down from a previous position that was of a higher grade and salary than that of a professor. The professor did acquire a grant and that was taken into consideration during their performance. However, due to this professor already reaching the salary cap for a professor instead of receiving a 4% increase (professor’s average performance score was a 4), due to the new policy this professor will receive a merit of 0. 5% added to their current salary. 116,000(current salary) X 0. 005% (Merit Award) = $116,580 Merit Award Dollar Amount: $580 Professor Ricks- This professor also stepped down from a previous position that was of a high grade and salary than that of a professor. This professor’s average on the graphic scale was 4. Due to the new policy in place for those who’s salary is already above the cap; this professor will also receive a merit of 0. 5% added to their current salary. 135,000 (current salary) X 0. 005% (Merit Award) = $135,675 Merit Award Dollar Amount: $675 Professor Matthews- At this time this professor is not eligible for a merit award, due not having been at the university long enough. This professor will keep their current salary. Per the policy this professor is eligible for a merit appraisal six months from the date of hire, upon completion of the probationary period at 12months. Professor Karas- This professor is not at the salary cap, but is slowing approaching it. Due to the professor not at the salary cap, they will be receiving their full merit award, not the reduced rate. This professor was rewarded the teacher of the year award and has completed research as well. The average score of this professor from the graphic scale was 4, so they will receive a 4% increase. $100,000 X 4% (merit award) = $104,000 Merit Award Dollar Amount: $4,000 Professor Franks- This professor has tenure with the University but has not done any in the last four years; however they are still teaching. Though the professor is lacking in one of the important criteria they make up for it in the other. The average on the graphic scale for this professor was a 2, so they will receive a 2% increase $90,000 (current salary) X 2% (merit award) = $91, 800 Merit Award Dollar Amount: $1,800 Due to (2) professor stepping down from higher roles and a new professor being awarded a higher salary then other currently tenured professors. The salaries of the professors currently at Small State University will not be balanced. Changing the way merit awards are giving will allow for professors who currently have not reach the salary cap to earn more than their counterparts and catch up to their salaries. Also by not awarding the new employee a merit four months after starting the position, it sends the message that the employees have to ultimate â€Å" show and prove. † The University should not award that professor when they have yet meet the teaching and research criteria that the university measures. Also moving forward when hiring professors, the university should reward salary based on the new pay scale and ensure not award employees too close to the maximum point. Instead new hires should receive salaries between the minimum and midpoint range, to allow for them work up to higher salary levels based on their performance. Supervisors of the professors should speak to all employees about job advancements for those who are interested in moving up within the University and also would like to receive higher compensation. For the professors who stepped down from their position, they need to continue to exceed in the teaching and research measurement, if they do not met standards they should not receive any raises that year due to them already being paid more than many of their counter partners. References Gerhart, B. , Hollenbeck, J. , Noe, R. , Wright, P. (2013) Human Resource Management Gaining a Competitive Advantage. New York: McGraw-Hill Irwin