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NonMoary Recognition Performance Management Work Environment ? Research Stipends/ Grants ? Travel Stipends ? Curriculum Stipends/ Grants ? Administrative Stipends ? Sabbatical ? Communications/ Inter/ Newsletters ? Teaching/ Research ? Teaching Load ? Location ? Special Events/ Recognition Ceremonies ? Promotion Award/ Process MONETARY Total Cash Benefits Recognition Stipends/ Grants ? Base pay ? Incentives ? Spot Award TOTAL REWARDS STRATEGY The Employment Deal University’s Mission 25 Overview Moary Total Rewards ? Base Pay ? Benefits ? Retirement – Defined benefit – Defined contribution – Retiree medical – Retiree life ? Health – Medical – Dental ? Benefits (cont’d) ? Paid Time Off – Vacation – Holidays – Sick leave ? Security – Life insurance – Short term disability – Long term disability ? Conducted analysis to ascertain the petitiveness of total reward elements at LMU for both staff and faculty: 26 Faculty Findings ? Detailed findings will be available in the Academic Vice President’s Office by request LMU Market PTO Security Health Retirement BasePay 27 Faculty Findings By Rank L M U M a r ke t L M U M a r ke t L M U M a r ke tA ssi st a n t A sso ci a t e F u l lP T OS e cu r i t yH e a l t hR e t i r e m e n tB a se P a y? Detailed findings will be available in the Academic Vice President’s Office by request 28 Faculty Total Reward Scorecard ? Focus Group findings indicated that certain benefits were extremely important at LMU ? In general, faculty has a good understanding of the petitiveness of LMU’s benefit levels T o ta l R e w a r d E l e m e n tD e g r e e o f I m p o r ta n c eD e g r e e o f C o n c e r n O ve r C o m p e ti ti ve n e s sA c tu a l C o m p e ti ti ve n e s sH e a l t h / W e l f a re / D e n t a l V e ry I m p o rt a n t L i t t l e A b o v e T i m e O f f (P T O ) I m p o rt a n t L i t t l e A b o v e S e cu ri t y N / A N / A L o w B a se P a y / S a l a ry I n cre a se s M o st I m p o rt a n t M o st W i t h i n R e t i re m e n t V e ry I m p o rt a n t S o m e W i t h i n 。 Universities: Aspirational Group * Included because faculty pensation for Geetown, Boston College and USC (highly ranked schools) not available in CUPAHR survey 7 5 th P e r c e n ti le $ 6 7 7 ,7 6 1M e d ia n $ 4 2 6 ,9 5 5A v e r a g e $ 9 4 8 ,7 7 12 5 th P e r c e n ti le $ 2 1 0 ,7 9 3Lo y ola M a r y mou nt $ 2 2 5 ,3 7 4E nd ow ment S iz e S t a t is t ic sAspirational Comparator Group from CUPA Endowment