In concert with its Strategic Plan, LEADS 2025, Goal 4 – Build a Robust University System, NMSU continuously seeks to undertake process improvements leading to incorporation of best practices in its day-to-day operations. Ensuring NMSU has appropriate policies and procedures in place to guide faculty compensation practices is a Goal 4 priority of Provost Carol Parker, and HRS Assistant Vice President, Gena Jones.
Such goals require periodic review and refinement of policies and procedures, as well as regular, systematic analysis of the outcomes of NMSU’s compensation policies and practices. Conducting regular and transparent external market and internal equity reviews, and validating internal compensation data, are best practices that should be part of our standard operating procedures, and are concrete ways to demonstrate NMSU’s commitment to faculty equity and excellence, together with articulating bench-marks for improvement, and a specific plan for prioritizing funds to fill any identified compensation gaps, will help NMSU attract and retain excellent faculty members. NMSU will seek in this indeavor to provide competitive salaries, recognizing that ongoing and strategically targeted funding will play an important role in reaching that goal. Any strategic compensation plans will be subject to funding availability and budget approval by the Board of Regents.
Through these efforts, NMSU will seek to ensure the following outcomes with respect to its faculty compensation rates:
- Incentivize, recognize and reward faculty work which is aligned with and advances NMSU’s mission and strategic goals;
- Support recruitment and retention of the most accomplished faculty possible to ensure that NMSU remains academically strong and competitive; and
- Ensure all faculty receive comparable compensation for comparable contributions to NMSU’s mission, including women, under-represented groups and other protected classes.
