Compensation Philosophy

Compensation Philosophy

EVMS seeks to be an employer of choice in the region to attract and retain high-performing and motivated employees to fulfill EVMS’ mission and support its strategies and values. Providing employees with equitable and competitive compensation is integral to this goal

The guiding principles and objectives upon which EVMS has designed its compensation for employees are outlined in this Compensation Philosophy.   The specific process by which compensation is provided to each employee is outlined in the EVMS Compensation Policy and other EVMS Human Resources policies.

Compensation Structure

The EVMS compensation system strives to provide employees with a compensation package that is fair and consistent with compensation paid in the nonprofit, education and/or healthcare sectors for positions of comparable complexity and responsibility. In addition, it recognizes and rewards individual contributions and achievements.  The goal of this system is to recruit and retain high-performing employees and to incentivize excellent performance.

EVMS provides our employees with a compensation package that includes a competitive base wage and one or more of the following benefits (subject to eligibility and organizational budget constraints):

• Periodic adjustments to pay ranges and/or employee compensation based on changes in the external labor market;
• Equity adjustments to ensure that employees within a given position or job group are paid equitably across EVMS;
• Merit pay increases, including additional increases for exceptional performance ;
• Paid time off;
• Defined employer contributions to a 403(b) retirement plan;
• Subsidized health and dental insurance; and
• Fully paid basic life insurance, short- and long-term disability insurance

Role of Human Resources

Human Resources is responsible for the establishment of policies and procedures to ensure that:

• Decisions regarding each employee’s compensation and the basis for such compensation are documented and transparent;
• Compensation for each employee is fair and reasonable, based on established policies and procedures;
• EVMS compensation practices comply with applicable local, state, and federal laws and regulations; and
• Compensation is reviewed no less than annually to conduct a comparative analysis of compensation paid by EVMS to compensation paid at the local, state, regional, and/or national level.