Pay and benefits at Regent s College

Transcription

1 Pay and benefits at Regent s College

2 Regent s College is changing Dear Colleagues Only a few years ago we were an affiliation of schools and colleges. Now we are moving towards being a single, coherent university. As part of that journey we have been reviewing many aspects of the way we manage our business, our approach to pay and benefits included. This short guide provides an introduction to what you can expect working for Regent s College. The first thing to remember is that, as a private-sector, not-for-profit higher education (HE) provider, we are not subject to the collective agreements common in the wider HE sector, nor do we operate many of the same pay and benefit arrangements. We do not have pay scales with spinal column points, nor do we have a final salary pension scheme. What we do have is the freedom to develop pay arrangements that are right for us. Any reward system should, of course, attract, motivate and retain. As a charity, our pay arrangements must also be affordable and flexible. While we cannot claim to be the highest-paying HE institution, pay levels at Regent s College are benchmarked against similar HE providers and charities. And when the total reward package on offer - including health benefits and up to 10% pension contributions - is taken into consideration, we believe we provide a package which compares favourably with any of our peers. One way in which Regent s College differs from many other HE providers is that we are committed to recognising those who contribute the most. We will do this through individual performance-related pay from This is a contentious issue in higher education. But, as in any other sector or walk of life, some people contribute more than others, and we believe that it is right and proper to recognise the best while supporting everybody to work to the best of their abilities. Pay arrangements must also be seen to be fair and equitable. Academic and non-academic staff share common pay arrangements, with our grading structure based on an objective and defensible jobevaluation process. Our trustees take a particular interest in the decisions we make about reward to ensure strong governance, and we are committed to communicating our system clearly. We want to make working for Regent s College a uniquely rewarding experience. There is much about working for the College that cannot be brought out in a document - our friendliness and culture, the opportunity to work with an unusually diverse student body, and our peaceful park location in the middle of one of the most vibrant cities in the world. We hope you find working for Regent s as rewarding as we do. Professor Aldwyn Cooper Chief Executive and Principal Sue Shutter Director of Human Resources

3 This is intended to be a short introduction to pay and reward at Regent s College. It is not definitive - you will find much more detail in the Human Resources section of the intranet, and in pensions guidance produced for us by our financial advisers, Origen. Your contract of employment may also have terms and conditions particular to you as well. Pay The one aspect of reward that everybody knows, even before they ve started a new job, is how much they will be paid. But we want you to know where you fit into the College s pay structure as well. If you come from another higher education institution then you may not realise that the way pay is managed in the College is different from the wider HE sector. For example, we do not have incremental pay scales with spinal column points, nor do we come under the wider collective agreements that you will find in the public sector. All roles below the senior management structure, both academic and non-academic, fall into one of ten grades, B to K. These grades have been set using Hay, which is a fair, objective and wellestablished job evaluation system There is a pay scale for each grade, common to both academic and non-academic roles, benchmarked against similar charities and HE providers Pay scales are divided into three zones, with typical salary levels for experienced, fully competent performers being in the middle or target zone Roles in a small number of specialisms receive uplifts to their pay scales to recognise that the market pays more for them Annual salary increases, normally paid in August, differ according to your zone: The lower your zone, the higher your pay award. This is designed, over time, to bring salary levels for all staff into the target zone. Your starting salary will probably be in the lower zone of the pay scale, but you are guaranteed to be in the target zone within five years at the very most There is salary increase of up to 500 following successful completion of probation for those in the lower zone Exceptional one-off achievements can lead to a 100 bonus payment and a letter of commendation from the Chief Executive. And we recognise the accomplishments of individuals through staff awards, including monetary payments, at the College s annual staff conference as well.

4 to do so is taken annually and is at the discretion of the College. In 2012/13 the annual leave allowance for fulltime members of staff totals 43 days, including bank holidays. While you are not able to buy more leave, you can sell up to five days leave back to the College, although you will need to confirm with your manager what you will deliver in those extra days. From 2014 your level of performance will also help determine your annual salary increase. Sustained high levels of performance could keep your salary in the high performance zone, or move it faster through the pay band. And when you ve been with the College for 20 years you can choose a gift to mark your service up to 1,000 in value. Regent s College is unusual in allowing academic staff who deliver additional teaching to be paid for those hours within certain limits. If you are on a non-management grade, you may also qualify for paid overtime if you work additional hours. Promotion Typical of most higher education institutions, Regent s College employs lecturers, senior lecturers, principal lecturers, readers and professors. Promotions are made by internal committees who consider the academic record of the individual. They also bear in mind the overall number of academic promotions the College needs to make and can afford. As far as professional services roles are concerned, Regent s College - like many small organisations - cannot always provide clear promotion paths or guarantees over progression between roles. However, in many parts of the organisation we would normally expect, where possible, to promote to senior officer or manager level from within. Many of the College s managers started with us at more junior levels. Promotions, whether academic or nonacademic, typically command a salary increase of at least 5%. Leave The annual leave allowance for all members of staff from appointment is 30 days, plus public holidays. In addition the College normally closes over Christmas, although the decision We also award up to an additional two days leave a year for charitable activities, plus leave for bereavement and other difficult personal situations. We are supportive of career breaks and also allow you to extend maternity or paternity leave by up to two years. Women returning from maternity leave receive one week s pay as a bonus. Pension The College does not provide the type of final salary pensions that are generally found within the wider HE sector. Instead we provide a contribution-based group personal pension (GPP) scheme through Aviva. This means that you build up a personal pension pot of money to which both you and the College contribute.

5 Aviva enables you to access around 240 funds from a variety of providers, which reflect a range of management styles and risk profiles. This offers you a high degree of control over how your money is invested for your future. The College currently contributes 7% of your salary to your pension. You do not currently have to contribute unless you choose to, although from October 2013, you will be required to contribute 1% *. You can, of course, choose to put more into your pension and if you do the College will match any additional contributions up to a maximum of 3% (i.e. 4% from you and 10% from the College). From October 2013 the College will begin to auto-enrol members of staff into the pension scheme. This means that you will not need to take any action to join the scheme as you will be automatically enrolled into it. However, you will need to take action if you wish either to opt out, or to exercise choice over where your money is invested. Salary sacrifice You may also use salary sacrifice arrangements to increase your pension contributions. This allows you to give up part of your salary in exchange for pension contributions. While contributing to a pension is already tax efficient, salary sacrifice means that those pension contributions will not be subject to National Insurance either. You may also use salary sacrifice arrangements to help you commute to work by bicycle, pay for childcare, or give to charity. All payments are made from your gross salary before income tax and National Insurance is deducted. Health and well-being Regent s College takes your health and well-being seriously. If you are sick, our contractual sick-pay scheme will cover you for six months (once you have passed probation) or, after five years service, for a year. If you are still be unable to work due to ill-health after a year, and you have completed over two years service, then you will be covered by the College s income protection scheme. This will provide you with an income for up to five additional years. However, we would much prefer you to be healthy and at work, and to that end the College provides members of staff with a Westfield Health Foresight health cash plan. This allows you to claim back routine medical costs, such as dental check-ups, as well as providing access to certain procedures more quickly than may otherwise be the case. Membership of the scheme also gives you access to Westfield Rewards, reducing the costs of your weekly shop. *For members of the pension scheme as at 1 August 2012, this will be deferred until October If you wish, you can also take advantage of BUPA By You health insurance with a 20% discount.

6 This is a flexible health insurance package which you can tailor to your needs and budget. All staff have access to a 24/7, 365-days-a-year employeeassistance programme, run by FirstAssist, which can offer you and your family general legal and financial advice, and, if needed, counselling to help you through traumatic or stressful situations. And, should the worst happen, your dependents will benefit from your death-in-service cover which will provide a lump-sum payment equal to three times your salary and pension payments thereafter. All staff are covered from their first day of service, but cover ceases at state retirement age. Learning and development As you would expect of an organisation with aspirations to be a university, we value learning and development. At Regent s College we wish to support you in your continuous professional development. There is a range of ways in which we will do this. This includes internal workshops and training programmes. We can also fund and support relevant professional certificates and diplomas, master s degrees and PhDs, as well as attendance at short courses and conferences. We also offer up to 50% off course fees for you and your family. All learning and development activity is planned through a performance development review process. College facilities Don t forget that the College s facilities are available to staff as well as students: an extensive library, refectory and restaurant, bars and coffee shops, a bookshop, and an art gallery. Other benefits There is a range of other benefits, details of which can be found on the College website, from free evening language classes to occasional staffonly deals with Regent s Park Open Air Theatre, Tastecard, and others. You are also encouraged to create your own benefits. Suggest an activity or initiative that helps bring the College together like the College s Book Club - and we will consider funding it.

7 At-a-glance guide to benefits Pay Leave Pensions Health Other benefits A competitive salary Up to 500 increase in salary following successful completion of probation for those in the lower salary zone From 2014, individual performance-related pay increases A bonus of one week s pay for women returning from maternity leave 100 spot awards for truly exceptional one-off achievements Cash awards presented for achievements at the College staff conference Long-service awards after 20 years continuous service of up to 1,000 in value The possibility of paid overtime for academic staff delivering additional teaching, or for nonmanagerial grades for additional hours worked 30 days annual leave, plus public holidays, and typically an additional five discretionary closure days at Christmas (e.g. 43 paid days leave in 2012/13) Up to two additional days leave a year for charitable or social activities The possibility of selling leave back to the College Career breaks of up to one year Up to two additional years maternity or paternity leave Membership of a group personal pension scheme with a 7% minimum contribution by the College, a 1% employee contribution, and the College matching any further employee contribution up to an additional 3% Additional pension contributions can be made from gross salary, using salary sacrifice A death-in-service scheme offering a lump sum of three times salary plus continuing dependents benefits Westfield Healthcare Foresight health cash plan covering everyday health costs, which can be upgraded or extended to cover your dependents Best Doctors for you and your family, giving you an expert second opinion An employee-assistance programme offering a 24/7, 365-days-a-year well-being service including counselling, plus legal and financial advice A 20% discount on BUPA By You health insurance Free eye tests and up to 75 towards glasses for VDU use An on-site gym Up to a year s contractual sick pay An income-protection scheme for the long-term sick Travel-to-work loans of up to 5,000 covering legitimate travel costs Tax-efficient childcare voucher scheme through salary sacrifice Charities Aid Foundation Give As You Earn using salary sacrifice tax efficient giving to charity Tax-efficient salary-sacrifice cycle purchase through Cyclescheme Up to 50% reduction on course fees for staff members and their families Westfield Rewards online shopping portal - shop for less at over 200 leading high street/online retailers Free evening language classes Frequent lunchtime seminars and talks Reduced price tickets to Regent s Park Open Air Theatre Other staff-only offers, such as discounted Tastecard or Gourmet Society dining club membership Please note that some of these benefits are dependent on length of service or age.

8 Regent s College London Inner Circle, Regent s Park London NW1 4NS, UK Tel +44 (0) Fax +44 (0) hr@regents.ac.uk Web Registered Charity