4.1 Compensation Philosophy
Missouri State University's workforce is its most vital resource and it is the intention of the University that the compensation plan demonstrates the high value the University holds for its employees. Therefore, the Missouri State University System strives to maintain a total compensation package for faculty, staff, and administrators that is directed toward attracting, retaining, and rewarding a highly qualified, engaged, committed, and diverse workforce to serve the University's students and the State of Missouri. Compensation shall be externally competitive when compared to the appropriate market, internally equitable, and based upon individual performance, qualifications required, and the complexity, scope, and impact of the work performed. Performance should be directly linked to obtaining pay rewards of sufficient magnitude to be valued. Strategically, the compensation system, in conjunction with other human resource strategies, contributes to workplace conditions that support employees at all levels of the University in meeting or exceeding performance standards. Performance management and compensation increases are directly linked with the furtherance and achievement of the University's strategic goals; there should be a strong correlation between the strategic goals of the University and the goals and objectives set by supervisors and their employees. Employee performance is evaluated in relationship to achievement of employee goals and objectives.