RATE OF PAY ON PROMOTION/TRANSFER. a. In the event an employee is promoted, the employee’s rate of pay will be adjusted by an amount equal to the difference between the current Pay Equity Target Rate of their current salary band and the current Pay Equity Target Rate of the new salary band, up to the maximum of the current Pay Equity Target Rate for the new position. Example: An employee is promoted from a position in Salary Band "C" to a position in Salary Band "D", difference in bands (Dec. 1/97 rates) = $1.25/hr increase in pay. b. A promotion will not affect an employee’s entitlement to fringe benefits, but the employee’s anniversary date will change to the first day of the month closest to the date of promotion. c. In the event an employee is transferred to a position within the same salary band s/he shall retain his/her current rate of pay. An employee who is transferred to a position in a lower salary band shall be paid the current Pay Equity Target Rate for that band. d. A transfer will not affect an employee’s anniversary date, or entitlement to fringe benefits.
Appears in 7 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
