Market Supplements - Human Resources - Newcastle University
 

Market Supplements

An organisation that has to attract and retain staff who are in high demand and where market rates are therefore high has to balance the desire for internal equity with the pressures of the "market place".

Newcastle University uses Market Supplements to deal with this inevitable tension. Market Supplements are additional payments to the rate for the job (as determined by Job Evaluation), which enable the University to reflect market rates.

The University has developed its policy and processes for Market Supplements to meet the following objectives.

  • To enable the University to recruit and retain employees when the salary level set by internal relativities is not market competitive.
  • To provide the University with an ability to add a market supplement to basic salary in order to make a clear distinction between internal job worth and job value due to market pressure.
  • To ensure market pressure is identifiable to ensure fair application of market supplement.
  • To ensure that review mechanisms are in place to remove market supplement at the appropriate time.

Market related payments policy (PDF, 128KB)

Market supplements process (PDF, 16KB)

For further information on Market Supplements contact the Richard Boggie.