Compensation Philosophy

Effective Date: 06/01/95

Purpose:

To provide equity, incentive, and external comparability in the administration of the College's compensation program for all employees.

Policy:

Within the framework of applicable law, and consistent with the judicious expenditure of funds entrusted to it, Centenary College shall attempt to employ competent personnel at competitive local area rates or rates competitive with other similar institutions; motivate these employees to perform well; and create inducements both through basic compensation and fringe benefits to retain competent employees for productive periods of service.

Periodic salary increases shall be based on performance as reflected in the annual performance review conducted by each unit head, the effects of inflation, and the ability of the College to pay.

Last updated 20 July 2000

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