We work diligently to create and administer a compensation program that is reasonable, competitive, fair and equitable while remaining compliant with any applicable regulatory guidelines. Our goal is to attract, retain, and motivate high caliber employees who support our organization’s mission, objectives and long term success in conjunction with the our values and behaviors.
Our company relies on the Compensation Center of Excellence to proactively research the market to ensure we're paying employees appropriately with respect to industry, recruitment pool demographics, and internal equity. Our market studies take into account national, regional, local and hard to fill position data. We look at pay for similar positions within the organization at regional, divisional, and team levels. along with accounting for performance history and amount of applicable experience. In general, we target base salaries at the median market practice and are proactively responsive to market pay fluctuations.
We also conduct a corporation-wide annual performance process that includes self-appraisal and supervisory appraisal against our key culture corner stones. As well as, an assessment against individual goals. Our annual salary increase process is tied to the results of this performance appraisal process. We strive to ensure that these processes are fairly administered and compliant with all regulatory guidelines.