A plan to offer performance- and incentive-based bonuses for faculty and staff has been approved by the Administrative Council and the Compensation Committee of the Board of Trustees.
“One of the goals in our 2020 Road Map is to recruit, reward and retain outstanding faculty and staff, and as a result, performance-based compensation has been a priority for funding. This commitment to an annual compensation plan has helped us move faculty and staff pay, on average, above the median of the market,” said President Jim Clements.
According to Human Resources data, average faculty pay is now at 111 percent of the median of the Oklahoma State University study for universities in the Carnegie classification of high research activity. Staff pay is at 102 percent of the Southern Universities Group median, on average.
“This year, a portion of funds available for compensation were used to fund the university’s share of the state’s mandatory pay raise for all faculty and staff. We’re grateful to the General Assembly for this support,” Clements said.
The total cost to Clemson of the mandatory 2 percent raise was approximately $7.4 million. The state appropriated $1.274 million to partially offset this cost.
Performance-based bonuses can range from $500 to $3,000 (the maximum is set by the state). Incentive-based bonuses tied to “the bottom line” through external revenue generated or cost savings netted can range from $1,000 to $10,000.
The Office of Human Resources has been communicating with deans, chairs, directors and budget officers across campus to discuss the process, criteria and timelines. The general increase appeared in the July 15 paycheck for 12-month employees, and it will appear in the Aug. 29 paycheck for nine-month faculty. All bonus actions must be finalized and approved by mid-September, and will appear in the Oct. 15 paycheck. More information can be found on the Human Resources website.