On Wednesday, Dec. 6, President Timothy Law Snyder, Ph.D., announced that the Board of Trustees authorized that the university pursue a multiyear compensation initiative to invest millions of dollars in the university’s base budget to raise faculty and staff salaries beyond the market median into a more competitive range over the next several years.
In alignment with President Snyder’s vision, Executive Vice President and Provost Thomas Poon and Executive Vice President and Chief Operating Officer Rosemarie Rae are forming a special task force, the LMU Compensation Committee, with members representing a diverse range of divisions and departments across the university, to perform the due diligence required to bring this initiative, which has been in the works for several years, to fruition.
The LMU Compensation Committee will be composed of three subcommittees with charges to develop implementation methodologies to include principles and process improvements for how we create consistency in annual performance appraisals, merit equity increases, explore competitive retention strategies, and make recommendations regarding LMU’s overall benefit offerings:
- Faculty Compensation Subcommittee
- Staff Compensation Subcommittee
- Benefits Subcommittee (in collaboration with the University Comprehensive Benefits Committee)
Human Resources will announce dates for community information sessions for faculty and staff early next year. We will also share further details related to committee members and objectives. Transparency throughout this process is among our top priorities, and we will provide updates to the LMU community as we move towards a more competitive compensation model.
Please contact hr@lmu.edu with any questions.