Compensation And Remuneration Framework

The Leapman Institute is unequivocally committed to attracting, retaining, and motivating highly skilled and dedicated professional staff members. This commitment is pivotal to sharing in the Institute’s dynamic growth while enabling individuals to achieve their professional career aspirations. This endeavor harmoniously aligns with the Institute’s aim to excel in professional and academic domains.

Establishment of Compensation Strategy

The Leapman Institute has instituted a sophisticated compensation and remuneration framework to underpin this commitment. This framework is meticulously crafted, incorporating guidelines and processes that are predicated on the principles of internal equity—recognizing the intrinsic value of various roles within the Institute—and external competitiveness. This ensures that our remuneration packages are fair and aligned with prevailing market conditions.

Objective

The primary objective of this policy is to elucidate the Institute’s philosophical stance regarding compensation practices, thereby ensuring clarity and transparency in our remuneration protocols.

Scope of Application

This policy is universally applicable to all eligible non-faculty Professional Staff Members, explicitly excluding individuals who are collective bargaining unit members.

Implementation Responsibility

The custodianship for executing this policy is vested in the Department of Human Resources at The Leapman Institute.

Administrative Governance

The stewardship for the administrative oversight of this policy is entrusted to the Executive Vice President, Treasurer, and Chief Operating Officer of The Leapman Institute.

Policy Aims

The compensation and remuneration framework is strategically designed to achieve several key objectives:

To guarantee equitable and uniform compensation practices throughout the Institute.

To ensure full compliance with all pertinent federal and state legislative and regulatory requirements.

To align with the Institute’s fiscal policies and available financial resources.

To ensure the efficiency of administrative processes associated with compensation management.

To position the Institute competitively within the labor markets from which it sources talent, ensuring that remuneration reflects both the cost of living and competitive standards.

The Leapman Institute predominantly interacts with the local and regional labor markets to recruit nonexempt positions, and it broadens its reach to regional and national labor markets for exempt positions. Compensation practices are calibrated to be competitive and cognizant of the living costs in these markets, ensuring our remuneration packages are equitable and competitive.

At-Will Employment Provision

Notwithstanding the provisions detailed within this compensation policy, it is imperative to underscore that nothing herein is construed to modify the at-will employment status of any Professional Staff Member at The Leapman Institute. The Institute retains the inalienable right to terminate the employment of any staff member at its sole discretion, for any lawful reason or without the necessity of stating such reason, in adherence to the principles of at-will employment.