The following guiding principles inform the design and administration of our compensation program and will support our ability to meet program objectives:
Clarity Through Transparency
The decision-making process and data utilized within the compensation program is freely shared with employees. The partnership of leadership and HR in the transparency of information will drive clarity. It is important to note that our guiding principle here is clarity through transparency not agreement. Agreement will be desired, but understand some decisions will not have agreement across all members of the University.
Changes to employee pay or classification must be consistent with compensation policies and processes. Flexibility will be reduced, and consistency will be increased. Compensation related strategy/plans will be tailored around the compensation program framework. The compensation program will no longer be manipulated to meet case by case needs / request.
Compensation should be data-driven and pay should reflect the work performed (or to be performed, new hire), by the employee rather than titling or tenure alone. Compensation for additional work should be limited and reflect genuine complexity differences with applied expertise in the applicable job.
Compensation program elements must support internal equity. Variations in compensation must be related to observable work-related factors. Examples of observable work-related factors and a definition of equity for the University Of Mississippi can be found within the compensation playbook. Some examples include; Tenure, Complexity of role, experience outside of the University, etc.
Leaders are responsible for understanding the compensation program and administering compensation in alignment with the program design. Leadership accountability is also inclusive of the proper workforce planning and stewardship of university funds and effectively managing budget and allocated resources.