I am pleased to share with you an update on investments we have made in employee compensation.
Beginning January 1, we raised the minimum wage on campus to $15 an hour and adjusted the wage of employees in nearby market ranges to account for what’s known as salary compression. This was the most recent in a series of investments we have made over the past year in compensation, including merit raises for all employees and raising the minimum salary for full-time non-tenure-track faculty.
In addition, this week Governor Bill Lee proposed a 4 percent merit pool for employees. Any increases resulting from the new state budget will begin July 1.
Our next step in ensuring that employee pay remains competitive will be to conduct a market and benchmark analysis. This analysis will help us understand where to focus our future investments so we can continue to deliver on our commitment.
Every day I am inspired by your service to our students and our state, and I am proud of all we are accomplishing together. We are committed to ensuring that the compensation of our faculty and staff reflects how much we value your work.
With the launch of our new strategic vision last year, we have charted a path to achieving many ambitious goals. It is your talent, passion, and commitment to serving our students, our campus community, and our state that set us apart and will help us meet our goals.
Thank you for all that you do.