The Compensation function is responsible for plans and programs related to cash and non-cash methods or types of pay and incentives. This is often referred to as direct compensation.
- Wage & Salary Administration.
- Pay Structures/Schedules.
- Job Evaluation/Classification.
- Wage & Salary Survey participation.
- FLSA and other Regulation Compliance.
The compensation philosophy at Rice is:
- To ensure that internal pay relationships are equitable based upon job responsibilities and job performance.
- To maintain a proper competitive position with appropriate labor markets in order to attract, retain and provide incentive for competent staff.
- To promote the prudent expenditure of the University’s compensation funds.
- To comply with all applicable laws, government regulations and university standards.
- To support the University’s strategies.
Some of the more common inquiries include:
- How to reclassify a position.
- How to create a new position.
- Create or revise job descriptions.
- What are the pay ranges?
- Pay or bonus issues.
- Exemptions from overtime.