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Town Hall Presentation January 9-10, 2002

Town Hall Presentation January 9-10, 2002. The Division of Human Resources and William M. Mercer, Incorporated. Curtis Powell Vice President for Human Resources. Today’s Town Hall Objectives. Meet the Project Team Discuss why Rensselaer launched this initiative

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Town Hall Presentation January 9-10, 2002

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  1. Town Hall PresentationJanuary 9-10, 2002 The Division of Human Resources and William M. Mercer, Incorporated Curtis Powell Vice President for Human Resources

  2. Today’s Town Hall Objectives • Meet the Project Team • Discuss why Rensselaer launched this initiative • Discuss why Mercer was selected • Review the Project Plan • Show our progress to date • Discuss what this means to you • Answer questions

  3. Objective #1: Meet the Project Team

  4. The Project Team Curtis Powell Rensselaer VP, Division of Human Resources Anne Bilynsky Rensselaer Manager, Compensation Kathy McNamara Rensselaer HR Specialist Kimberly Keating Mercer Senior Consultant Dr. Andrew Klein Mercer Higher Education Practice Leader

  5. Objective #2: Discuss why Rensselaer launched this initiative

  6. Where We Want to Be Develop a total compensation system that will guide the design, implementation, and administration of your compensation program(s). It will ensure that job performance, compensation levels, and training programs are aligned with the Rensselaer Plan and your Division’s/School’s Performance Plan.

  7. Developing the Total Compensation System In partnership with Mercer, Rensselaer will develop the following: The Rensselaer Plan Compensation Philosophy & Strategy Staff Compensation Program Faculty Compensation Program Variable Pay Program Implementation Process & Supporting Communication & Training Materials

  8. Objective #3: Discuss why Mercer was selected

  9. William M. Mercer, Incorporated Mercer consultants: • Offer years of experience and have developed and implemented compensation systems in higher education. • Have access to vast data resources: • World’s largest human resource consulting firm, with annual revenue of approximately $2.0 billion • More than 13,000 employees • 136 cities • 40 countries • Will work as a team with the Division of HR to design the best program for Rensselaer

  10. Objective #4: Review our Project Plan

  11. Project Plan STEP 1 - Compensation Philosophy and Strategy Development Develop compensation philosophy and strategy and communication strategy; identify benchmark jobs Interviews leadership to understand expectations, gain perspective, ascertain desired outcomes Begin project; start to learn issues, philosophy, business and strategic plan STEP 2a - Faculty and Staff Base Pay and Compensation Program Design Conduct competitive market assessment of base and total cash compensation for 250 benchmark staff and faculty jobs Develop base pay structure scenarios for staff jobs and competitive ranges for faculty jobs Develop, test and finalize slotting methodology for non-benchmark staff jobs STEP 2b - Variable Plan Design Build plan documents for program; review costing to ensure affordability Develop variable pay program goals, culture issues, and funding limits Develop plan; design straw model; rewrite reaction models

  12. Project Plan STEP 3 - Program Costing Place non-benchmark faculty and staff in grades based on job evaluation and career ladder structure Identify internal adjustments and finalize titling standards Cost program alternatives, finalize approved designs STEP 4 - Recommendations for Implementation Present recommendations to the President and Members of the President’s Cabinet Obtain President’s approval to proceed STEP 5 - Training STEP 6 - Implementation - July 2002 • Begin Implementation • Structure • Titles • Career ladders Develop and implement compensation policies and procedures and administrative guidelines Begin training supervisors and informing faculty and staff of new program

  13. Objective #5: Show our progress to date • Research • What we learned • Status

  14. Research Findings are based on information gathered through: • Meetings with President Jackson, key leadership, faculty and staff • Analysis of faculty and staff compensation data and the external marketplace • Review of Rensselaer’s communications, internal published materials, and manuals

  15. Research • Review of individual performance management tools and/or job descriptions across the Institute • Working sessions and focus groups with staff and faculty representatives at Troy and Hartford • Division presentations • Analysis of best practices in higher education, not-for-profit, and for-profit organizations

  16. What we learned. . . Study Finding # 2 Study Finding # 1 • There is no Institute-wide, systematic approach for administering staff compensation. A number of “systems” have been developed across the campus on an ad-hoc basis. • There are inconsistent messages about what is important.

  17. What we learned. . . Study Finding # 4 Study Finding # 3 • Career paths are not well defined for most staff job families. • The faculty have established titles and career movement criteria that correspond to pay. A benchmarking study will assess current practices.

  18. What we learned. . . Study Finding # 5 Study Finding # 6 • Inconsistent job titling is creating internal equity issues. • The performance standards for faculty and performance management tools for staff are still being integrated into the total compensation system.

  19. What we learned. . . Study Finding # 7 Study Finding # 8 There is a prevailing view that most people are underpaid. Based on a preliminary staff assessment, 80% of staff are within the competitive range of their position. Rensselaer does not have a systematic way to attract and retain world-class faculty.

  20. Status • We have preliminarily defined our target markets as follows: * Geographic differentials calibrate the data for Troy and Hartford

  21. Status • We are in the process of finalizing the following ladders: • Management Career Ladder • Professional Career Ladder • Information Technology Career Ladder • Administrative Support Career Ladder • Research/Scientific Career Ladder

  22. Status

  23. Immediate Next Steps • Finalize staff career ladders • Complete the development of staff pay structures • Refine staff titles • Continue/complete faculty external market analysis

  24. Objective #6: Discuss what this means to you

  25. The New Rensselaer Total Compensation System • Salaries are going to be managed within a system. Every position will be placed in a salary grade with a defined minimum and maximum. • The salary system will be based on analysis of the external marketplace and an assessment of the unique value system at Rensselaer. • Defined career paths will help staff map out their career strategies. Fairness Competitiveness Career Opportunities

  26. The New Rensselaer Total Compensation System • Titles will be revised to reflect the new system and to ensure that they are consistent across the Institute. Regulatory Compliance • Labor regulations require that with a new/revised program of pay and rewards we conduct an audit to ensure continued compliance. Title Consistency

  27. Objective #7: Answer questions

  28. Questions & Answers

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