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Incentive and Retention Pay
| Policy No.: 5-15 |
Effective: 08/09/11 |
| Revision No.: 02 |
Review Date: 08/09/12 |
OVERVIEW: This policy provides additional compensation to encourage and retain employees who maintain high professional standards.
SCOPE: This policy applies to classified employees.
PROVISIONS:
- Retention Pay
- General Rule. No more than once during a fiscal year the department director may increase the compensation of any employee up to the midpoint of the salary range of the current classification. This increase is designed to encourage retention by increasing the salary of an employee who is being actively recruited or who has an offer of employment with a better compensation package.
- Increases beyond the midpoint of the salary range require approval of the Administrating Official.
- Budgetary constraints and policies must be followed when making compensation decisions.
2. Equity Pay
a. General Rule. No more than once during a fiscal year the department director may increase the compensation of any employee up to the midpoint of the salary range of the current classification to ensure pay equity amongst employees. This type of increase is intended to raise the compensation of long term employees to a level commensurate with recently hired employees who were hired above the base of their classification range.
b. Increases beyond the midpoint of the salary range require approval of the Administrating Official.
c. Budgetary constraints and policies must be followed when making compensation decisions.