Each department must establish criteria for awarding incentive payments consistent with School of Medicine guidelines. The departmental criteria must be approved by the Dean and the Vice President for Health Sciences. The criteria should be equitable and provide an opportunity for all eligible faculty to receive an incentive payment. Individual incentive payment amounts are left to the discretion of the department and require the approval of the Dean, School of Medicine, the Vice President for Health Sciences, the President and the VCU Board of Visitors. Since the financial incentive payment is considered compensation, any award requires the approval of the VCU Board of Visitors.
Several options are available to each department to fund the incentive payment program.
A department may elect to use one or a combination of the funding options. This substitution will be administered through the Dean's Office. The department may then use the substituted unrestricted funds to make incentive payments to faculty. This substitution will be administered through the Dean's Office. The department may then use the substituted unrestricted funds to make incentive payments to faculty.