SPMF Career Development and Compensation Policies

Vocabulary flashcards covering the key terms, definitions, and roles involved in the SPMF career development and compensation process.

Career Development

An organizational commitment where every employee has opportunities to grow professionally regardless of their position.

Promotion

An organizational opportunity that occurs when there is a business need for a role with broader scope and responsibility and budget capacity to support the expanded role.

Professional Growth

Focuses on developing skills, expertise, leadership, and professional capability; examples include leading projects, mentoring others, and taking on stretch assignments.

Leadership Calibration

A part of the compensation process where recommendations are reviewed across leadership to support consistency across the organization.

P&C (People & Culture)

The department that manages the compensation process, conducts internal pay equity reviews, and implements approved compensation changes.

C3

The independent compensation consulting firm the Foundation partners with for market benchmarking and compensation analysis.

Pay Range

A competitive market pay range for a role; it is not a step system and individual placement is determined by experience, performance, and internal equity.

Pay Grade

Classification assigned to a position based specifically on the scope and responsibilities of the role, rather than the individual holding it.

Market Adjustment

A targeted compensation change intended to bring pay into alignment with the market or address an internal pay equity issue.

Annual COLA (Cost of Living Adjustment)

The annual compensation increase provided to employees meeting performance expectations, determined by market trends and budget rather than individual merit alone.

Internal Pay Equity Review

An annual analysis conducted by P&C to ensure compensation consistency across different departments and similar positions.

Comprehensive Market Study

An external market validation of the Foundation's salary structure completed by C3 every $2$ years.

Market Growth Guidance

Data provided by C3 during the alternate years between comprehensive studies to keep pay grade ranges competitive and current.

Supervisors' Role in Compensation

Evaluating performance, providing recommendations, and communicating decisions; they do not independently set compensation.