Guidelines - Compensation Administration: Difference between revisions
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* Pay Bands - Each Job Family has its own '''Pay Band''' representing the total pay opportunity for those jobs allocated to the Job Family. Within each Pay Band are a series of Zones and Benchmark Ranges. | * Pay Bands - Each Job Family has its own '''Pay Band''' representing the total pay opportunity for those jobs allocated to the Job Family. Within each Pay Band are a series of Zones and Benchmark Ranges. | ||
* Market Relevant Survey Data - The NU Values pay structures are analyzed on an on-going basis to determine relevancy to market. Relevant labor market wage and pay surveys are utilized, which represent a cross section of job classifications, from which Benchmark Ranges are developed. | * Market Relevant Survey Data - The NU Values pay structures are analyzed on an on-going basis to determine relevancy to market. Relevant labor market wage and pay surveys are utilized, which represent a cross section of job classifications, from which Benchmark Ranges are developed. | ||
* Additional information can be found on the [ | * Additional information can be found on the [https://info.unmc.edu/wiki/index.php/NU_Values NU Values website] under "Compensation". | ||
===[[Compensation_Administration|Compensation/NU Values #1007]]=== | ===[[Compensation_Administration|Compensation/NU Values #1007]]=== | ||
===[ | ===[https://www.unmc.edu/human-resources/_documents/procedures/Procedures1007.pdf Compensation Administration Procedures]=== | ||
===[https://info.unmc.edu/wiki/index.php/NU_Values NU Values website]=== | |||
Latest revision as of 14:24, May 22, 2024
Guidelines List | Forms | Procedures
To establish the philosophy of the University of Nebraska Medical Center (UNMC) regarding how jobs are classified and how employees are compensated. It is the policy of the University of Nebraska Medical Center (UNMC) to provide competitive compensation levels to support the ability to attract, motivate, and retain qualified employees.
Within the NU Values program, there are four major components to the compensation infrastructure. These consist of:
- Job Classification - is a process by which job content value characteristics are identified, evaluated, and allocated to a Job Family and Benchmark Range, and are assigned unique title codes. These classifications are grouped into one of two categories - Benchmark Jobs or Non-Benchmark Jobs.
- Job Families - Groupings of related jobs with common vocations/professions in that they have similar market characteristics, related key behaviors, and a continuum of knowledge, skills and abilities.
- Pay Bands - Each Job Family has its own Pay Band representing the total pay opportunity for those jobs allocated to the Job Family. Within each Pay Band are a series of Zones and Benchmark Ranges.
- Market Relevant Survey Data - The NU Values pay structures are analyzed on an on-going basis to determine relevancy to market. Relevant labor market wage and pay surveys are utilized, which represent a cross section of job classifications, from which Benchmark Ranges are developed.
- Additional information can be found on the NU Values website under "Compensation".