Compensation Plan - Part Three

The UT president formed a Compensation Advisory Board last year. I am the IPS representative on the board. One of the tasks of the board is to update the total compensation plan for the university. We contracted with SIBSON consulting firm to conduct the market analysis for the university.

The consulting firm is in the data gathering stage. They are meeting with each campus and institute to learn about the unique challenges for each entity. IPS formed a Market Analysis Team to help prepare for our meeting. The team consists of me, Judie Martin (HRO), Gail White (CBO), Bonnie Jones (representative from the HR Strategy Team) and Steve Thompson (representative from the leadership team.)

The team gathered historical data on the IPS compensation plan including our salary schedule, point plan and other relevant data. We also gathered market analysis data that included every new hire since 2005. In addition, we looked at all offers turned down and all turnovers in the last two years. All these data give us information about our market competitiveness.

Our team was the first to meet with the consultants on May 17. They were impressed with the amount of data gathering we had already completed and went through a list of good questions. If you are interested in seeing our responses,visit the Strategy Team SharePoint site. Click on the Human Resources folder and then the Market Analysis folder. We marked our responses as draft so that we can continue to collect input.

We expect a preliminary report in June and a final report in August. I'll keep everyone updated on our progress.