Introduction

Established to provide a monetary bonus to retain a faculty or staff member who is highly skilled and loss of their services may create a significant void for the University. The retention bonus policy supports the University's Strategic Plan, Goal 1: 1.1, which states the University will "provide competitive compensation, recognize and reward successful faculty and staff."

Process

The eligible employee's primary department does the following:

1. Complete the following on a Bonus Request Form, available from Employment Services' web site http://www.admin.mtu.edu/hro/employ/index.shtml or by calling 7-2281:

1. Enter the Employee Name and M Number
2. Enter the Employee's Primary Department and Org number and Date of Request.
3. Enter the Contact Person's Name and Phone Number.
4. Enter the Index(es))/Account Code(s) and Effective Date.
5. Enter the Bonus Amount.
6. Select the "Retention" bonus type.
7. Enter a brief justification of the reason for the bonus in the Comments/Justification text box.

NOTE: A more detailed written justification must be attached.

2. Obtain approval from the department chair/director or higher in supervisory chain of command, and a countersignature, if required.

NOTE: When an employee's time and payroll dollars are to be charged to an index under the control of a department other than the one initiating the request, the department head of the second department must also approve this request.

3. Obtain approval from the next in line of the supervisory chain of command (form requires two signatures).
4. Forward the Bonus Request Form to Human Resources for approval and processing.

Forms and Instructions

In support of this policy, the following forms/instructions are included:

Forms

Bonus Request Form

Appendices

Account Code Listings Report

How to Run Discover Reports