Cover Memorandum for Individual Library Faculty Market Equity Assessment Report


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Cover Memorandum for Individual Library Faculty Market Equity Assessment Report
Physical Description:
Russell, Judith C.
Keith, Brian W.
UF Libraries
Place of Publication:
Gainesville, FL
Publication Date:

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Source Institution:
University of Florida
Holding Location:
University of Florida
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All rights reserved by the source institution.
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The Foundation for The Gator Nation An Equal Opportunity Institution George A. Smathers Libraries 535 Library West Office of the Dean of University Libraries PO Box 117000 Gainesville, FL 32611 700 0 352 273 2505 352 392 7251 Fax November 21 2011 M E M O R A N D U M To: Library Faculty From: Ju dith C. Russell Subject: Library Faculty Market Equity Plan As you know, the Provost has approved implementation of the Library Faculty Market Equity Plan in three phases of $60,000 each. The first phase will take place in December 2011 and will be reflected in the Decembe r 30 th payment. The second and third phases will take place in July 2012 and July 2013, respectively. Enclosed you will find an individual Library Faculty Market Equity Assessment Report that has been prepared for you. This report reflects the applicati on of the factors and calculations that are part of the Library Faculty Market Equity Plan that are relevant to you. The Current Targeted Increase Amount near the bottom of the form indicates the gap, if any, between your Current Base Salary and our calcu lated target for your base salary. The Final Target Total Salary is our target for your salary, inclusive of any stipends following all three phases of library funded market equity raises and the anticipated 3 percent across the board increase from the un iversity. The plan and your individual assessment are based on market data from the ARL Salary Survey and take into account your job type, education, professional experience, and rank. Your performance is also considered in your individual assessment. A nnual evaluation results are a factor in determining eligibility for receiving or capping your market equity target Also, if you received merit as part of the 2010 university wide faculty merit raise s that amount has been added to the market equity targ et for you All of this is described in the handout from the November 21, 2011 Faculty Assembly Meeting, available at There you will also find a spreadsheet depicting the actu al calculations applied to a number of fictionalized employees representing various scenarios. Additionally, three information sessions are scheduled over the next several weeks to provide a detailed and comprehensive review of the Library Faculty Market Equity Plan, from the original work performed by the Joint Committee on Market Equity Analysis to the development of the current plan and the calculations therein. As noted above, we anticipate the first series of pay raises for library faculty targeted fo r market equity increases to be effective on December 9, 2011 and to appear in the December 30, 2011 paycheck. Deans and Library Council, I feel this is an important investment in the Libraries and some of our most key assets. I am, therefore, very pleased to see this process commence. The intention from the start of the market equity review has been to establish a transparent, fair and r easonable salary structure. Accordingly, if after reviewing your report, consulting the referenced documents, and discussing your targeted increase with your chair, you should have any questions or concerns, please contact the Libraries Human Resources Of fice, immediately.