Stetson Addresses Impact of Inflation and Gas Prices; Announces Compensation Increase for Employees
Stetson University President Christopher F. Roellke, PhD, has announced the university will be providing immediate relief for employees impacted by inflation and rising gas prices.
Roellke announced the university is providing a dollar-per-hour increase for all eligible biweekly, non-exempt, full- and part-time employees, and an across-the-board, annual pay increase of $1,800 for eligible full-time, monthly, exempt employees. (Please see FAQs on university’s Human Resources website.)
The changes will take effect on the April 1 check for biweekly, non-exempt employees and on March 31 for monthly, exempt employees.
Roellke also announced that if the $1-an-hour increase doesn’t bring a biweekly, non-exempt, full- or part-time employee to $15 an hour, he will move them to at least that level.
“If that increase still leaves a biweekly employee below $15 an hour, we will raise them to $15 an hour,” said Roellke. “We know these changes will be helpful but will not close the entire gap. But we care and want to do something immediately for our employees with the resources we currently have available to us.”
Stetson University’s standard cycle for compensation changes typically takes place in September and October of the academic year as part of the annual budget cycle.
“We recognize these are trying times,” said Bob Huth, chief financial officer and executive vice president. “It is a demanding situation, and much of it is out of our control. But there are things that the university can control — such as providing our staff and faculty with a little financial relief. And that is what we are doing.”
There are some specific parameters to the announcement, and more information is available in a Frequently Asked Questions section on the university’s Human Resources website.
Also, the university stated that in addition to the compensation increase it has asked its HR office to explore how Stetson might be able to incorporate flexible work arrangements to help offset gas price increases. Those discussions were continuing.