{"id":2226,"date":"2023-05-26T12:00:17","date_gmt":"2023-05-26T18:00:17","guid":{"rendered":"https:\/\/sites.coloradocollege.edu\/emailarchive\/?p=2226"},"modified":"2023-05-26T12:01:29","modified_gmt":"2023-05-26T18:01:29","slug":"changes-to-compensation-are-coming","status":"publish","type":"post","link":"https:\/\/sites.coloradocollege.edu\/emailarchive\/2023\/05\/26\/changes-to-compensation-are-coming\/","title":{"rendered":"Changes to Compensation Are Coming"},"content":{"rendered":"
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Dear Staff, <\/span><\/h1>\n
<\/div>\n
Since starting at Colorado College, concerns about compensation have been one of the key items I have heard about from the community. While people understand that all organizations have limited resources, there have been concerns about the increasing cost of living in Colorado Springs, as well as questions about how we make compensation decisions as an organization. <\/div>\n

<\/span> <\/p>\n

At In the Loop and the Compensation Road Show, I shared that we have taken several sources of feedback, including from the staff compensation subcommittee, past surveys, and one-on-one discussions, to help prioritize our investment in pay this year. In general, a significant concern has been about the ability to attract and retain people. Hiring has been challenging and we all recognize the burden it puts on our teams when someone leaves CC for another organization. As a result, a key commitment we are working towards is making it more likely that if someone were to leave CC for a similar job in a similar organization, they would receive similar pay.<\/div>\n

<\/span> <\/p>\n

An additional concern has been the increased cost of living and the impact on our lowest paid employees. With this year\u2019s increase, we will be ensuring that the practical minimum for all employees will meet the Glasmeier MIT livable wage for a single adult. <\/div>\n

<\/span> <\/p>\n

To accomplish these goals, we are prioritizing increases for people who are lower in their band<\/a>. People often start below the midpoint of their band, which makes sense when they are new to CC. If they stay in the lower part of the band for too long, they would be more likely to be able to leave for higher pay at other organizations.<\/div>\n

<\/span> <\/p>\n

Increases this year<\/a> will be delivered to staff so that staff in the first and second quarter of their bands receive a higher rate to accelerate their progress to the midpoint of their band. For all eligible staff, our base increase this year will be 3.5% of their salary. In total, employees in the first quartile will receive 2x that amount and employees in the second quartile will receive 1.5x that amount. <\/div>\n

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Quartile<\/strong><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/td>\n
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Increase %<\/strong><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/td>\n<\/tr>\n
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Q1<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/td>\n
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7%<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/td>\n<\/tr>\n
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Q2<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/td>\n
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5.25%<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/td>\n<\/tr>\n
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Q3 and above<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/td>\n
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3.5%<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/span> <\/p>\n

You are eligible for this increase if you:<\/div>\n

<\/span> <\/p>\n