The University of Denver recognizes that to fulfill its mission it requires a diverse group of highly qualified employees – educators, researchers, administrators and support staff. To ensure that faculty and staff are recognized and rewarded appropriately for their contributions and that University resources are used efficiently and effectively, the University supports a compensation system that:
1. Provides comprehensive compensation (base salary, supplemental payments, and benefits) that is competitive within the appropriate labor market and is aligned with the availability of institutional and unit resources.
2. Attracts highly skilled and competent employees and retains them by providing opportunities for learning, growth and career development.
3. Encourages and rewards excellent performance by individual staff and teams and assures contributions toward meeting the mission, goals and objectives of the University by basing salary increases on merit and performance.
4. Assures a fair “living wage” for all employees who work full time.
5. Provides academic and administrative units flexibility in applying the principles of the University’s compensation system.
6. Allocates compensation in a fair yet flexible manner in compliance with all applicable legal requirements.
7. Balances the need for internal equity while recognizing the desire to be market competitive subject to resource availability.
8. Assures communication of system principles, goals, design, procedures and relevant external market information to all units and individuals.
9. Remains open to emerging compensation practices to address changes in the workforce and the workplace over time.