Compensation Study Services

The vendor is required to provide compensation study for its workforce of approximately 100 employees. 
- The compensation study will focus on evaluating internal pay equity among positions, comparing pay against other municipalities or comparable industries within the region, and providing recommendations to adjust salary structures, job classifications, and job descriptions.
1.    Internal pay equity analysis:
•    Review current salary data to identify internal pay disparities.
•    Assess job classifications and corresponding pay to ensure internal equity across all employee groups.
2.    External market comparison:
•    Benchmark town of surfside beach employee salaries against other comparable municipalities and industries in the region (e.g., similar-sized cities or local government entities in the state and region).
•    Provide market comparisons for each job classification to evaluate competitiveness in the labor market.
3.    Comprehensive compensation report:
•    Prepare a detailed report summarizing findings on internal pay equity and external market comparisons.
•    Include analysis of each job classification and job description and propose salary ranges based on market data.
•    Provide specific recommendations for adjusting salary structures to align with market conditions and internal equity.
4.    Salary structure and job classification system update:
•    Review and recommend updates to the town’s salary structure, including the development of a step plan.
•    Provide a revised job classification system, if necessary, to ensure it aligns with the town’s compensation strategy and employee roles.
5.    Employee training for compensation strategies:
•    Conduct training for key town personnel (e.g., administrator, finance director, HR specialist) on how to implement and communicate compensation strategies and practices.
•    Provide guidance on how to maintain equitable pay structures and adjust based on future market trends.

- Questions/Inquires Deadline: October 10, 2025