Consulting Services Compensation Review

The vendor is required to provide for a consultant to conduct a comprehensive staff compensation review.
- Direct to organization salary survey
• Prepare supporting documentation on the usage of any major assumptions, the proposed process, comparable company and peer and job groupings to prepare the report.
a. We request that the successful proponent be available for our may 22, 2025, governance and compensation committee meeting to address any questions the committee may have.
• Assist management with and administer the following items:
a. Identifying appropriate comparator groups, identifying specific organizations within comparator groups,
b. Developing survey questions,
c. Performing the survey with identified organizations,
d. Set a minimum sample size to ensure results are statistically meaningful providing clear rationale for that sample size and if required identify additional comparator organizations to meet the minimum, and
e. Developing a comparative results assessment.
• The results of this survey should be provided to management and committee with the following instructions:
a. Data related to the senior management team will be made available only to the president and CEO.
b. Data related to the president and CEO should only be made available to the governance and compensation committee.
c. All other staffing data can be made available to the director, finance and administration and the president and CEO.
• Timelines for a draft report are flexible depending on timing of responses, but a final report must be available by October 15, 2025, as the results will be shared with board governance and compensation committee.
• The successful proponent must also be available to present the final report and findings on the survey to the governance and compensation committee at the October 28, 2025, meeting
- In-depth review of compensation grid
• Use the same major assumptions and comparable company and peer and job groupings identified in phase 1 to prepare the report.
• Update the compensation grid for all grids for any available survey data in phase 1 and market reports that has become available throughout late 2025 and early 2026
a. There is potential that some role adjustments may occur during 2025 which would impact this portion of the findings.
b. Our intent is to inform you of these changes as they finalize.
c. The compensation review should consider cash and non-cash comparators to market and any recommendations for improvement.
• The results of this survey should be provided to management and committee with the following instructions:
a. Data related to the senior management team will be made available only to the president and CEO.
b. Data related to the president and CEO should only be made available to the governance and compensation committee.
c. All other staffing data can be made available to the director, finance and administration and the president and CEO.
• Provide any insight of whether an alternative compensation model or measure may be beneficial.
• This could include consideration of whether a separation of grids based on job type (regulatory vs administration vs other), uniqueness of roles, or if there are other measures that could be used to refine or enhance board compensation philosophy.
• Present findings of the in-depth review to the governance and compensation committee on a date and time to be determined (approximately latter half of march 2026).