Story by Sabra Jackson, Staff writer
Sibson is the HR consulting firm that Murray State has contracted for $145,000 to do a study in faculty compensation.
Joyce Gordon director of human resources said the university went through many companies to decide which one had a good price, good quality and is able to compare and contrast to other schools within the region. Sibson was the one with data in the region and works with other schools in Kentucky.
Sibson was the most reasonable and most suited for the study that Murray State wanted to do. Gordon said it is difficult to come to an agreement between vice president, stakeholders and others.
Gordon said the data from other schools goes to College and University Personnel Association-Human Resources, CUPA-HR. Because Murray State and other schools report employment statistics and other data each year, Sibson is able to gather information from CUPA-HR to analyze and suggest ways a university can compensate faculty and staff.
“It benefits the students for us to look at keeping a stable group of faculty and staff,” Gordon said.
The study is divided into three categories: faculty, exempt staff, and non-exempt staff.
King said the study will begin with faculty salaries and examine national, regional and local trends by academic discipline, with an emphasis in employee recruitment.
The study is a small side piece of the strategic plan that will be up for review again in 2022. The strategic plan aligns the institutional benefits and helps the university meet the goals of the mission statement.
Sibson provides human resources and benefits consulting for corporations and nonprofit organizations.. According to Sibson’s website, they help organizations grow their business profitability and increase the performance and productivity of their people.
Sibson’s parent company is Segal, an international consultant company. While they have many specialties, Gordon said they are one of the best at compensation studies.
“Murray State University recognizes that our people are our greatest asset,” said Adrienne King, vice president of University Advancement.
Gordon said the university has been looking at starting this study for the past three years. The process started as going out as a bid, which was approved in early April.
“At the end of the day, it’s the student center focus and it’s how we all look at that,” Gordon said. “It’s been a campus wide effort.”
Gordon said this study is the first step and will take a few months to get through. The next step will be taking place mid-summer.