LAS VEGAS – A new funding mechanism approved by the Nevada System of Higher Education (NSHE) Board of Regents will reward meritorious performance, reduce the occurrence of salary compression and inversion, and provide all NSHE professional employees with regular and predictable salary adjustments.
The Board of Regents on Friday approved the recommendation made by the NSHE Task Force on Performance Pay Administration and Support, which began studying the issue in 2019. The Task Force recommended that NSHE’s institutions must establish a performance pay pool of at least one percent of all existing professional positions salaries.
Money from the performance pool could then be used to award meritorious performance for the prior performance evaluation year for professional employees at the institutions. The one percent performance pay pool is estimated to be approximately $5.9 million based on approved budgets.
“I am very pleased we could move forward with this plan that will reward meritorious performances by our institutions’ professional employees,” Board of Regents Chair Mark Doubrava said.
Chancellor Melody Rose added, “I appreciate the work of the Board of Regents and the Task Force for creating a policy that will help reduce salary compression and inversion, an issue that has affected professional employees throughout higher education. This performance pool is critical in affirming our commitment to reward the hard work of NSHE’s professional employees.”
The professional pool is set to begin by fiscal year 2023, which starts July 1, 2022.
The Nevada System of Higher Education, comprised of two doctoral-granting research universities, a state college, four comprehensive community colleges, and one environmental research institute, serves the educational and job training needs of Nevada. NSHE provides educational opportunities to more than 100,000 students and is governed by the Nevada Board of Regents. The System includes the University of Nevada, Las Vegas, the University of Nevada, Reno, Nevada State College, Desert Research Institute, the College of Southern Nevada, Great Basin College, Truckee Meadows Community College, and Western Nevada College.