1. Salary Benchmarking a. Conduct market analysis and surveys for competitive compensation of designated WaterOne positions. 2. Job Structure a. Review job roles and evaluate internal equity and hierarchy within pay structure. b. Identify and evaluate potential pay compression issues and provide alternative solutions. c. Provide consideration for hard-to-fill positions and provide recommendations on how to align within pay structure or other alternative solutions that allow WaterOne to flex within changing market conditions. d. Evaluate and comment on organizational structure to include suitability of job levels, supervisory/management levels, and consistency of job responsibilities, required skills and qualifications, experience, and market data in relation to pay hierarchy given WaterOne’s strategic mission, vision, and goals. 3. Compliance and Regulatory Requirements a. Review WaterOne compensation policies and practices for compliance with federal, state, and local laws and regulations. b. Review and recommend proper classification of specified positions relative to exempt and nonexempt status in accordance with Fair Labor Standards Act (FLSA). c. Conduct an internal equity analysis. 4. Benefits Review a. Market review of health and wellness benefits and practices and provide recommendations for improvement. b. Market review of retirement benefits and practices and provide recommendations for improvement. c. Market review of employee Time Off benefits and practices and provide recommendations for improvement. d. Market review of fringe benefits and provide recommendations for improvement. e. Offer creative and forward-looking solutions to retain and attract talent related to benefits. 5. Total Compensation Policies and Practices a. Review, analyze, and make recommendations that are innovative, market-competitive, and sustainable, including: i. Pay structure, including but not limited to pay ranges; compensation mix (base salary, bonuses, differentials, benefits, etc.); and career progression. ii. Pay practices, including but not limited to market pay strategy; sign-on and retention bonuses; determining offers; market equity adjustments; process for determining ongoing market adjustments to pay ranges; process for determining merit pool; and merit increase cycle. iii. Guidance for correcting existing compensation plan, ensuring consideration of target market comparison and maintaining a competitive comprehensive salary package. b. Provide a recommendation for the approach to ongoing internal compensation equity reviews. c. Complete a market review of the total compensation package for senior-level staff and provide recommendation for changes, if identified. d. Complete a market review of the total compensation package for elected Board members and provide recommendation for changes, if identified. 6. Implementation and Ongoing Project Support a. Provide a roadmap for implementation of recommendations with a financial impact analysis, including recommendations for handling positions with a change in pay range. b. Review WaterOne’s project communication plan and make recommendations to enhance the plan and when it is appropriate for direct communication from consultant. c. Provide communication aids for individual total compensation reports and/or summaries. d. Prepare project updates for project team, employees, and management. At minimum, a weekly project update via email and bi-weekly project meeting will be expected. e. Provide a presentation to WaterOne’s senior management team and a workshop, as necessary to work through data and recommendations. If requested, provide a presentation to the WaterOne Board on your findings. f. Provide recommendations for policy updates, as necessary, if WaterOne decides to implement recommended changes.
