Auburn, Ala. (EETV)- In a letter to faculty and staff on Friday, Auburn President Christopher B. Roberts explained his new multi-phase compensation initiative he proposed to the Board of Trustees.

The plan recieved preliminay approval from the Board which includes a $32 million investment in employees for the 2023 fiscal year. President Roberts said, "Our trustees know that Auburn employees invest so much into our students and campus and they want to recognize the impact and commitment of our excellent employees by investing in them."

If the plan is formally approved in September, this would be the largest compensation investment in the history of Auburn University. Part of the $32 million will be used for family and faculty promotion funds as well as a 5% merit-based performance pay pool allocation for the 2023 fiscal.

All merit increases are required to be substantiated by employee performance documentation, which is typically the completed annual performance review. Merit increases would be effective on October 1st.

If the proposal is formally approved by the board in September, Roberts says that additional information will be forthcoming about the specific employees who will receive Phase 1 market adjustments beyond that of merit-based performance pay and when those adjustments will be implemented.

Read President Roberts' full letter here.