![]() The adjustments in Phases I and II will cost the university a total of approximately $8.5 million for salaries and benefits in 1998-99, not including the state-funded salary programs, Rogers said. 12, and in the nonexempt paychecks on Feb. The newly adjusted pay rates for affected staff will appear in the exempt paychecks on Feb. The salary of all those below the new minima, in both the statutory and the endowed colleges, will be adjusted to the appropriate salary level by Jan. Opperman said approximately 250 employees currently are below the new minima, and they are clustered mostly in the lower pay bands. "This is a major investment of university resources, and we are delighted to be able to make this commitment to our staff." "President Rawlings has identified the improvement of staff compensation as one of his top priorities, and this two-phase compensation plan is the first step in a multiyear effort in that regard," said Mary Opperman, associate vice president for human resources. "These changes should have a significant positive impact," he said, "and they reflect the university's commitment to support and reward staff in a highly competitive market." Rogers, senior vice president and chief financial officer, said the compensation improvement program is appropriate and necessary for Cornell to remain competitive in the recruitment and retention of employees. An additional component amounting to approximately $4 million will be targeted toward rewarding superior performance and for equity adjustments.įrederick A. As in the past, the baseline endowed Salary Improvement Program (SIP) will reward satisfactory performance at or above the rate of inflation (approximately 2 percent in 1997). Phase two, effective in July 1998, provides an enhanced pay-for-performance salary improvement program in the endowed colleges. Staff whose salaries currently fall below these new minima will receive salary adjustments in February to bring them up to the new minima. 29, 1998, raises the minimum hiring rates 8 to 14 percent. Cornell officials are planning a two-step program to improve staff compensation significantly. ![]()
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