Compensation Consulting Services

The Vendor is required to provide compensation consulting services for include:
1. Market analysis and staff survey
• Review job descriptions for accuracy, consistency, and alignment with current duties
• Conduct a market salary survey using comparable public utilities and peer organizations
• Evaluate current pay policies (e.g., starting pay, merit, promotional, and equity adjustments)
• Evaluate current compensation plan including pay bands with minimum, midpoint, and maximum ranges for market competitiveness, internal equity, and compression
• Benefits and total rewards analysis - assess current benefits.
• Total compensation tool - develop a excel user-friendly total compensation calculator for employee communication and retention purposes.
2. Development of a recommended pay scale
• Recommend appropriate classification and ensure compliance with applicable standards.
• Recommend position placement and provide implementation options with cost analysis.
• Compare to peer organizations and provide recommendations to enhance competitiveness.
• Provide recommendations for consistent and sustainable compensation administration.
3. Future compensation and benefit support
• Annual market, inflation and labor market review and adjustments
• Pay structure update
• Benefits competitiveness review (light update)
• Updated reporting and regulatory recommendations.