Employee Compensation Policy
Purpose
The purpose of this Employee Compensation Policy is to establish fair and equitable pay practices that comply with federal and state laws and align with the mission of the Carrie Tingley Hospital Foundation (the “Foundation”).
Scope
This policy applies to all employees of the Foundation, including full-time, part-time, temporary, and seasonal staff.
Policy Statement
The Foundation is committed to providing a compensation program that attracts, motivates, and retains talented employees who contribute to the fulfillment of the Foundation’s mission. Compensation decisions are based on the Foundation’s financial position, relevant market data, individual performance, and internal equity.
Compensation Structure
- Salary Ranges: The Foundation will establish salary ranges for all positions, reflecting the level of responsibility and complexity of each role. These ranges will be reviewed annually and adjusted as necessary.
- Merit Increases: Employees may be eligible for merit increases based on their performance evaluation. Merit increases are not guaranteed and are subject to budgetary constraints.
- Bonuses: Discretionary bonuses may be awarded to recognize exceptional contributions that go above and beyond regular duties. Bonuses are contingent upon the Foundation’s financial health and approval by the Board of Directors.
- Benefits: The Foundation offers a competitive benefits package, including health insurance, retirement plans, and paid time off. Eligibility for benefits is determined by the employee’s job classification and hours worked.
Compliance
The Foundation will comply with all applicable laws and regulations regarding employee compensation, including the Fair Labor Standards Act (FLSA) and the Internal Revenue Service (IRS) guidelines for non-profit organizations.
Administration
The Executive Director, in collaboration with the Board of Directors, is responsible for the administration of this policy. Any exceptions to the policy must be approved by the Board.
Review and Approval
This policy will be reviewed annually by the Executive Director and a quorum vote by the Board of Directors. Any changes to the policy must be approved by a quorum vote of the Board.