Objectives and Related Goals
Objectives and Related Goals
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Compensation and benefits
Compensation and benefits
Proactively create, review and revise strategic compensation and benefits for all Vassar employees.
Why focus on compensation and benefits?
The compensation and benefits programs that Human Resources directs and manages are not only important for retaining and motivating employees, but also for attracting new talent to Vassar.
Why focus on compensation and benefits?
The compensation and benefits programs that Human Resources directs and manages are not only important for retaining and motivating employees, but also for attracting new talent to Vassar.
Goals
Goals
Participate in higher-ed and employer compensation surveys to stay abreast of market trends. Implement an improved compensation band grading system for Administrators.
Access and review peer market data by participating in compensation surveys such as CUPA (College and University Professional Association) and IPEDS (Integrated Postsecondary Education Data System). Design and implement an improved compensation band grading system for Administrators.
Train supervisors on how to plan for job transitions in their areas, including role enhancements. Encourage supervisors to review salary grades annually.
Partner with supervisors to develop a succession plan for their area and identify how to develop employees for future roles and responsibilities. This process promotes employee engagement and retention.
Consolidate 403B providers to improve retirement plan clarity and reduce costs for 403B participants.
Facilitate Vassar's move from 2 providers (TIAA and Fidelity) to a single provider (Fidelity) in order to reduce fees and simplify investment planning.
Ensure that we add new benefits and promote existing resources so that employees make the best use of them.
Continually improve Vassar's benefit offerings and employee education surrounding said offerings, including, but not limited to: the addition of adolescent mental health to telemedicine, open enrollment improvements, and retirement and health benefit seminars.
Engage with peer schools (Health4Edu, PURPC) on health insurance, claims management, and reinsurance best practices with the goal of medical and RX condition management/cost control.
Participate in PURPC (Preferred University Rx Purchasing Coalition) and Health4Edu (our reinsurance purchasing collective) annual meetings to inform plan design changes and best practices.
Analyze cost and care impact of telemedicine.
Determine actual return on investment for telemedicine by comparing our encounter data with medical claim reports.
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