Over the past 14 months Loyola has been engaged in a Staff and Administrators Compensation Study to identify necessary, market-based modifications to Loyola’s existing compensation structure. The University collaborated on this project with Sibson Consulting, an independent consultancy with expertise in higher education compensation.
A periodic, independent evaluation of our compensation program is part of Loyola’s commitment to employees to offer fair, equitable, competitive compensation that takes into account the scope of job responsibilities, relevant experience, employee’s performance against job expectations, appropriate compensation comparison markets, and budgetary framework of the overall institution.
The study’s findings informed our development of the redesigned, market-based compensation structure that will begin to be implemented July 1, 2016, for all Loyola staff and administrators. The changes are as follows:
- New position grades - Every staff and administrator position has been re-graded and job descriptions have been updated in consultation with leadership to accurately reflect current duties and updated salary grades. Staff and administrators will receive a copy of their job description indicating the updates on June 1, 2016. The new numerical grade levels should not be compared to current grade levels, as an entirely new grading and pay structure has been implemented. No employee’s current pay will be decreased as a result of these changes.
- Structural salary increase for some employees - Some staff and administrators are currently compensated below the salary range defined by the new structure’s grade levels. These employees, representing a small percentage of staff and administrators overall, will receive a one-time structural salary increase to raise their compensation to their new grade’s minimum. The increase will be effective July 1, 2016, and employees who receive the structural increase will be notified in writing on June 1, 2016.
- Lump-sum payment in lieu of merit increase for some employees - Some staff and administrators are currently compensated above the maximum salary defined by the new structure’s grade levels. These employees also represent a small percentage of staff and administrators overall. Effective July 1 and continuing forward, employees who are eligible for the merit increase but who are already compensated above the maximum may receive a lump-sum payment in lieu of a merit increase at the discretion of the President’s Cabinet. Lump-sum payments will not exceed the available merit increase and do not change an employee’s base salary. Staff and administrators identified as above their new maximum will be notified in writing on June 1, 2016.
Informational sessions have been scheduled to share more information about the new compensation structure, grade levels, and associated salary ranges. Supervisor sessions were held in May, and all-employee sessions in June 2016.
As a part of the Compensation project, the website was completely revised and updated to reflect all the changes.
We will continue to assess and evaluate our salary structure and benefit levels to ensure employees remain compensated equitably within a sustainable budgetary framework for the future. Should further changes occur, they will be phased in and communicated over time.