Compensation Management in Universities
Executive Summary:
Compensation is the total of salary plus all programs and benefits with monetary value include health and other insurance, contributions to retirement and pension programs, holiday and leave provisions, educational opportunities, bonuses, and other employer costs that benefit employees. The compensation policies of an organization are viewed by the employees as indicators of the management’s attitude and concern for them. Traditionally, pay scales in companies reflected the importance of the work and the responsibility level. Today, organizations try more to assess the worth of an individual in terms of his performance and contribution to the organization.
As far as university’s compensation and salary structure is concerned, it includes the compensation package for the teachers, staff, student workers, OSS, the Board Members, etc. the package should be designed in such a way that coves maximum benefit and motivation of the employees of the university. But then question arises that, what is the Current Standard for Teacher Compensation? Teacher compensation currently is based on the basis of their years of experience and educational units or degrees.
Teacher compensation is gaining renewed attention in state legislatures and school district offices as policymakers seek to attract and retain qualified individuals to teaching and also explore creative ways to promote higher educational and professional standards.
There are two types of compensation systems in use today: (1) pay for performance, and the other is (2) knowledge- and skills-based pay systems. Pay for performance is adopted to improve the overall quality of teaching by rewarding the performance of outstanding individuals. KSA’s based pay system usually is adopted to enhance the present knowledge that the teachers posses and improve their skills so that both the teachers as well as the students are beneficial. What type is the university adopting while compensating their
Compensation is the total of salary plus all programs and benefits with monetary value include health and other insurance, contributions to retirement and pension programs, holiday and leave provisions, educational opportunities, bonuses, and other employer costs that benefit employees. The compensation policies of an organization are viewed by the employees as indicators of the management’s attitude and concern for them. Traditionally, pay scales in companies reflected the importance of the work and the responsibility level. Today, organizations try more to assess the worth of an individual in terms of his performance and contribution to the organization.
As far as university’s compensation and salary structure is concerned, it includes the compensation package for the teachers, staff, student workers, OSS, the Board Members, etc. the package should be designed in such a way that coves maximum benefit and motivation of the employees of the university. But then question arises that, what is the Current Standard for Teacher Compensation? Teacher compensation currently is based on the basis of their years of experience and educational units or degrees.
Teacher compensation is gaining renewed attention in state legislatures and school district offices as policymakers seek to attract and retain qualified individuals to teaching and also explore creative ways to promote higher educational and professional standards.
There are two types of compensation systems in use today: (1) pay for performance, and the other is (2) knowledge- and skills-based pay systems. Pay for performance is adopted to improve the overall quality of teaching by rewarding the performance of outstanding individuals. KSA’s based pay system usually is adopted to enhance the present knowledge that the teachers posses and improve their skills so that both the teachers as well as the students are beneficial. What type is the university adopting while compensating their