Equity adjustments may be granted for the following reasons:
- The employee's salary is significantly below the salaries of comparable jobs in the appropriate marketplace; or
- The employee's salary is significantly below the salaries of other employees within the division working in positions which require similar experience and education and have comparable responsibilities.
An employee's performance must be ranked in one of the top two performance categories to be considered for an equity increase. Equity adjustments are based on a case by case analysis and are not distributed as "across-the-board" increases.
If the work performed is no longer accurately described by the job description, then the description should be re-written and submitted for a Job Audit. Managers who are concerned about equity within their departments should consult with the Compensation Services to determine if equity issues exist, and if so, the appropriate amount and timing of equity adjustments.
For additional detail please refer to HR Policy 40.041.