Compensation Update
As part of our
compensation enhancements last year, we conducted a thorough assessment of our pay approach with the external firm Segal. To help ensure that people at CC are paid in ways that are competitive with other organizations, Segal recommended an update of our band structure to add more bands. We agreed and are working to make this transition now.
All roles will be reviewed and placed in
the new structure. After fulfilling our commitment to ensuring all regular employees earn a living wage, we will prioritize increasing the salaries of anyone who is below the minimum of their new band.
We do not anticipate decreasing anyone’s pay in this process.
Bands in the updated structure are narrower, which will help us offer more competitive starting salaries by increasing the lower end of the bands. We also believe the new structure will help with retention by moving people more quickly to (and beyond) the mid-point of their bands.
We are now doing a review of every position to ensure that they are compared to good matches in market surveys and placed in the correct band. Each division is reviewing the matches to ensure they reflect the core responsibilities of the jobs.
When this work is complete, we will communicate with all regular employees, so they know about their new band. We will communicate this information at the same time we share annual pay increase information.
Compensation is complex and we understand that you may have questions. We will provide opportunities to discuss these changes as they are finalized. In the meantime,
feel free to reach out with questions or concerns.