Market Adjustment. The parties to this Agreement recognize the appropriateness of market pay adjustments in rare instances for compelling reasons. To effectuate judgments in such cases, the President and AAUP Chapter President, in consultation, shall each name three (3) individuals to a university Market Evaluation Committee. Deans may submit recommendations for market pay adjustments with supporting written reasons to the committee. Said Committee shall consult with the President concerning proposed market pay adjustments reporting its advice not later than May 15 in each year. Upon the favorable recommendation of the President and the Chancellor, market pay adjustments may be approved effective at the beginning of that pay period including September 1 of the following year. Not more than one (1) market pay adjustment per one hundred (100) full-time members, or fraction thereof, may be recommended in any contract year. A member’s salary may not be increased beyond the maximum for the rank. Funding for this program shall be governed by Article 12.10.2.
Market Adjustment. National Grid customers receiving Standard Offer Service under the Fixed Price Option who leave National Grid for a competitive supplier will be subject to a National Grid billing adjustment. This billing adjustment will appear on your utility xxxx and may be a credit or a charge to your Standard Offer Service xxxx, depending on National Grid rates at the time. Clearview is not responsible for the National Grid Basic Service Billing Adjustment and does not receive these fees.
Market Adjustment. The District commissioned a salary survey, which was completed by Xxxxx Xxxxxxxx & Associates in May of 2021 (“Survey”). Effective the first full pay period in January 2022, the District agrees to provide a market adjustment to those classifications identified as having a top step salary that is more than 5 percent below the median salary listed in the Survey. The amount of any market adjustment to be provided will be equal to the difference between the current salary for the position and a value that is 5 percent below the median. Eligibility for and the amount of any market adjustment will be determined after application of the cost of living adjustment provided by Section 9 below.
Market Adjustment. In the event that the University determines that anomalous market circumstance(s) exist such that it is experiencing difficulty in attracting and/or retaining employees in a specific job or that a particular skill set is in demand, it may conduct a market analysis and may adjust an employee’s base salary by adding a market adjustment factor consistent with market conditions.
Market Adjustment. Effective the first full pay period in January 2018, all current employee wage rates as set forth in Exhibit A will be increased by two percent (2.0%).
Market Adjustment. From time to time, the Employer may require the flexibility to adjust the rate for specific positions in accordance with market pressures. The Employer must meet the following criteria:
(a) the Employer must demonstrate that at least two attempts have been made to recruit for a vacancy using the plan’s rate of pay;
(b) turnover in the specific job classification must be demonstrably high;
(c) the adjustment in the rate of pay will be temporary and will be reviewed annually;
(d) if the position is found to be above market as a result of the annual review, the rate of pay will return to the original JE amount;
(e) the adjustment is for the position rather than a specific incumbent and will apply to existing incumbents, not just the new hires recruited under the temporary rate of pay;
(f) all other conditions, such as negotiated increases, will continue to apply.
Market Adjustment. Where a classification has been identified by the Employer as being behind market and such class has been difficult to recruit for or to retain employees in, the Employer may temporarily increase the rate of pay for the class by up to two pay grades (or its percentage equivalent). Such adjustments will be reviewed annually. Upon such annual review, if a classification is found to be above market then the rate for the class will revert to the pay grade or hourly rate in effect prior to the time the temporary increase was applied. Those employees found to be above the range will remain at their current rate until such time as normal increments or general increases match or exceed the employee’s current rate, at which time employees shall again become eligible for increments and general increases.
Market Adjustment. Compression/market adjustments for bargaining unit members will be determined by appropriate benchmarking within disciplines. The process proceeds as follows:
A. The goal is to work from data including at least discipline, rank, special title or designation, years of service, gender and salary, which shall be collected each year from mutually agreed upon benchmark lists for Main Campus, Xxxxx College, and the College of Applied Science and Technology. The benchmark lists will be constructed by the joint Administration – Akron AAUP committee described below. The committee shall complete its work by May 1 of each year, and if not completed by that time then the status quo benchmark list regarding market adjustment shall be maintained.
B. The market comparison categories shall be:
a. Non-Tenure Track Faculty
b. Assistant Professor
c. Associate Professor
d. Professor without special title
e. Professor with special title--distinguished professor or endowed professor
C. Half of the amount of compression/market adjustment for each bargaining unit faculty member in the categories listed in Sub-section B, supra, shall be ⎜ = ai ⎜ i ⎞ ⎟ ⎟ ⎟× A / 2 ⎜ ∑d j ⎟ ⎝ j=1 ⎠ where di is the deficit for the Member in question dj is the deficit for each Member The deficit for each member is computed as the difference between the years of service adjusted average for that members discipline and category for the “benchmarking” schools above and the member’s salary. The years of service adjusted average is computed as the product of the average for that members discipline and category for the “benchmarking” schools and the years of service factor, , where n is the member’s years in rank and for 2015-2016, i = 0.02, and M = 12 for Professors, and the service factor is 1.0 for non-tenure track faculty, assistant professors, and associate professors, i.e., i equals 0.00 for this rank. Only positive deficit values are used in the calculations for this section. The parameters i and M may be adjusted by the joint Administration – Akron AAUP committee described below. In the case of faculty on overload, their salary shall be corrected to reflect a regular academic year load.
D. Chairs in consultation with at least 2 elected bargaining unit members of the department will determine the allocation of the other half based on the full history of documented performance of bargaining unit members at The University of Akron. Each allocation to the bargaining unit member shall be supported by writ...
Market Adjustment. The following classifications will receive an hourly market adjustment as outlined below: Medical Radiation Technologist-Mammography $5.022 per hour Pharmacist $1.066 per hour Licensed Practical Nurse $5.723 per hour Market Adjustment Process
1. Market adjusted wage rates shall be payable to all eligible Employees in the classifications as listed, subject to paragraphs two (2), three (3) and four (4) below.
2. It is understood that the market adjusted wage rate is separate from the Collective Agreement Pay Equity Pay Band Schedule “A” and is not used in the calculation of the general wage percentage increases for the Pay Equity Pay Band rates. General wage percentage increases shall be calculated on the “base wage” only, and the market adjusted portion of the “total wage” shall be added to the newly revised “base wage”. Where a classification is in receipt of a Market Supplement in accordance with the Market Supplement Letter of Understanding, the Market Adjustment will be added after the Market Supplement.
3. The Hourly Market Adjustment Rate shall be added to the maximum (Step 5) hourly rate of the “base wage” Pay Equity Pay Band Schedule “A”. The remaining steps shall be calculated by maintaining the same percentage relationship as exists between the steps in the “base wage” Pay Equity Pay Band Schedule “A”. Where a classification is in receipt of a Market Supplement in accordance with the Market Supplement Letter of Understanding, the Market Adjustment will be added after the Market Supplement.
4. Market adjusted earnings shall be considered pensionable earnings, shall be subject to statutory deductions, shall be included in the calculation of Employee benefits where appropriate and shall be subject to Union dues deductions as per the formula determined by the Union(s).
Market Adjustment. 28.7.1 In the event the University determines, at its discretion, that an anomalous market condition exists such that the University has experienced difficulty in recruitment and retaining employees with the skills required by a specific job class, it may provide a temporary market adjustment to the incumbents in that job class.
28.7.2 The value of the Market Adjustment will be based on relevant labour market information and will be paid as a flat amount, non-base stipend. The stipend is considered a supplementary payment and will not be included as part of the Member's salary. The Market Adjustment stipend amount will be increased with the regular Salary Adjustment defined in Article 28.2.1.
28.7.3 The University will provide the Association with documentation supporting the Market Adjustment, the Market Adjustment stipend amount, and the job class(es) to which the adjustment will apply prior to implementation.
28.7.4 The need for the Market Adjustment stipend will be reviewed annually. In the event that the market condition changes and the adjustment is no longer required to recruit and retain employees with the required skills for that job class, the University may discontinue the payment of the Market Adjustment stipend with three (3) months notice to the Association and to any Members receiving the adjustment.
