We can only achieve our mission when staff members feel supported and valued. One way we demonstrate our commitment to staff is through our approach to pay and benefits (compensation).
We commit to the following principles when determining compensation:
A VALUES-DRIVEN POSITION | A COMPETITIVE POSITION
| A DATA-DRIVEN APPROACH | ||
Our compensation is designed with our six core values in mind: Dignity, Authenticity, Hope, Justice, Passion and Balance. We make every effort to index the lowest starting wage to the local cost of housing by using generally accepted housing affordability standards, such as those set forth by the federal Department of Housing and Urban Development and the National Low Income Housing Coalition.
| Our pay will be competitive to market. We aspire to an average agencywide compa-ratio of 90%-93%. This means that the majority of staff members earn betwen the minimum and midpoint of their positions' pay range.
| Our pay structure reflects differences in job types, levels, qualifications and responsibilities, which are documented in job descriptions and informed by pay research. We conduct an agencywide external market review at least every three years with a third-party compensation consultant. We also consult with them when specific positions or fields are undergoing rapid change. | ||
AN AUTHENTIC APPROACH | FAIR & EQUITABLE | REWARDS FOR STRONG PERFORMANCE | ||
We believe in transparency and developing shared understanding of pay administration, including pay ranges, and information about the process for determining starting pay and pay increases. Authenticity will be balanced with respectful regard to individual confidentiality. | Annually, we evaluate pay equity issues that arise through budgetary and performance appraisal processes. We also commit to a regular, formal pay equity review by a third-party consultant. | We award merit during the annual performance evaluation process, which is constructed around the job description and our core competencies. The percentage awarded is based on the average weighted score given to you by your supervisor. | ||
IT'S MORE THAN TAKE-HOME PAY | FINANCIAL RESPONSIBILITY | A NOTE ABOUT THE MARKET | ||
We invest in a robust benefits program, including strong, affordable health benefits, generous professional development budgets, license reimbursement, tuition reimbursement, a continuous learning environment, a hardship loan program, Affinity Groups and a culture of inclusion for staff. | We are equally committed to financial sustainability and the recruitment and retention of a qualified workforce. As such, our approach to compensation is subject to change or modification, based on the budget and financial forecast. | Our society and economy are capitalist. Capitalism places values on people and their work based on principles of "supply and demand." These principles create a marketplace in which we must compete against other employers for skilled professionals. We work hard to maintain a values-driven position; however, the market does not reflect or respect all of our core values or REI principles. | ||
Our minimum pay rate is $17/hr, 36% more than the state minimum wage of $12.50/hr. This rate increases to $17.34/hr automatically after 12 months.
