It’s unanimous: Board of Regents approves compensation increases
The CU Board of Regents voted unanimously to approve compensation increases for eligible faculty and non-classified university staff at CU Boulder, CU Denver, UCCS and system administration at its Nov. 5 meeting. The action follows previous regent approval of an increased compensation pool for CU Anschutz employees and classified staff systemwide that was effective July 1, 2021.
“We owe a great deal of our success to the fact that our staff and our faculty have shown up every day in very challenging conditions and changing environments to do the work of the university,” Board Chair Jack Kroll said. “They have committed themselves to something greater than themselves, and for that we owe them a great debt of gratitude. This action on compensation is a small piece of what we owe them as far as their service to this great university.”
The compensation increase includes a 3% base-building salary increase and a one-time payment equal to 1% of an employee’s annual salary in effect on Dec. 31, 2021. The increase applies to all eligible faculty and non-classified university staff at CU Boulder, CU Denver, UCCS and system administration, except for those with a performance rating of 2 or below on their most recent performance review.
The 3% base-building salary increase will be effective Jan. 1, 2022; the 1% one-time payment will be included in January 2022 paychecks. To help cover these expenses at the campus level, an ongoing decrease in charges assessed to the campuses for system administration will be implemented.
While enrollment on the campuses is at or above June estimates, it did not reach the threshold required to trigger automatic compensation increases. Despite this, CU leadership felt recognizing employees’ hard work amid rising costs of living was paramount.
“When we didn’t meet our threshold for an automatic compensation increase, we went back to the drawing board,” President Todd Saliman said. “Thank you to the chancellors and the regents for being part of that. Hopefully this (action) helps communicate our appreciation for our outstanding employees.”
Board Vice Chair Sue Sharkey and Regent Callie Rennison both echoed Saliman’s comments. “From the board and from the leadership of this university, I want to acknowledge how much we appreciate the employees of the University of Colorado because they make this university what it is – a great institution,” Sharkey said.
“As a faculty member myself I can speak to how difficult it’s been the last few years,” Rennison said. “I think this goes a long way to show our employees that they’re supported.”
Last week’s board action follows previous regent action that includes a one-time payment equal to a 2% pay increase for faculty and non-classified university staff at CU Boulder, CU Denver, UCCS and system administration for the six months between July 1 and Dec. 31, 2021, which was a result of the shift to the calendar year compensation cycle. It also follows previous salary increases for classified staff universitywide and the CU Anschutz faculty and university staff compensation pool, plus hourly market wage adjustments that brought most campuses up to a minimum of $15 per hour effective on July 1, 2021.