posted on Sept. 21: New compensation system for university managers

A new compensation system is being developed for members of the management group (TMG) at McMaster. It's called total rewards compensation and integrates compensation, recognition, and training and development.

The first step in this new approach was the creation of a Management Professional Development Allowance (MPDA) for 2001/2002. “Each TMG member plays an integral role in the University's success,” said President Peter George. “The MPDA reinforces the importance of professional development for managers to continue to develop their professional skills to help McMaster achieve its ambitious objectives.” The MPDA is similar to the established faculty professional development allowance.

A task force was struck this summer to make recommendations on the implementation of the total rewards compensation system. It includes several members of the TMG group along with representatives from senior management.

The task force's recommendation on the annual salary review for TMG has now been approved by the Executive Committee of the Board of Governors. It includes:

Increases to salary ranges

Across-the-board salary increase of 3 per cent*

Merit pool of up to 2 per cent*

*retroactive to June 16, 2001

The dates for implementing the salary changes have not yet been set. Financial services and CIS are currently working to complete the changes necessary under the MUSA agreement.

The task force will continue to meet to make recommendations to senior management on other key components of the total rewards compensation system.

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A new compensation system is being developed for members of the management group (TMG) at McMaster.  It&#039;s called total rewards compensation and integrates compensation, recognition, and training and development.<p><br />
<br />
The first step in this new approach was the creation of a Management Professional Development Allowance (MPDA) for 2001/2002.  "Each TMG member plays an integral role in the University&#039;s success," said President Peter George.  "The MPDA reinforces the importance of professional development for managers to continue to develop their  professional skills to help McMaster achieve its ambitious objectives." The MPDA is similar to the established faculty professional development allowance. <p><br />
<br />
A task force was struck this summer to make recommendations on the implementation of the total rewards compensation system.  It includes several members of the TMG group along with representatives from senior management. <p><br />
<br />
The task force&#039;s recommendation on the annual salary review for TMG has now been approved by the Executive Committee of the Board of Governors.  It includes:<p><br />
<ul><li>Increases to salary ranges</li><br />
<li>Across-the-board salary increase of 3 per cent*</li><br />
<li>Merit pool of up to 2 per cent*</li><p><br />
<br />
*retroactive to June 16, 2001<p><br />
<br />
The dates for implementing the salary changes have not yet been set.  Financial services and CIS are currently working to complete the changes necessary under the MUSA agreement.<p><br />
<br />
The task force will continue to meet to make recommendations to senior management on other key components of the total rewards compensation system.<p><br />
<br />
<br />
<br />
<br />

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