The selected firm or consultant will be required to conduct the following tasks: 1. Internal Pay Equity Analysis: o Review current salary data to identify internal pay disparities. o Assess job classifications and corresponding pay to ensure internal equity across all employee groups. 2. External Market Comparison: o Benchmark City of Travelers Rest employee salaries against other comparable municipalities and industries in the region (e.g., similarsized cities or local government entities in the state and region). o Provide market comparisons for each job classification to evaluate competitiveness in the labor market. 3. Comprehensive Compensation Report: o Prepare a detailed report summarizing findings on internal pay equity and external market comparisons. o Include analysis of each job classification and proposed salary ranges based on market data. o Provide specific recommendations for adjusting salary structures to align with market conditions and internal equity. 4. Benefits & Incentive Review: o Assess current benefits offerings (e.g., health insurance, retirement plans, paid time off, etc.). o Review incentive programs (e.g., performance bonuses, merit increases). o Provide recommendations for improving or enhancing benefits and incentives to be competitive in the market. 5. Salary Structure & Job Classification System Update: o Review and recommend updates to the City’s salary structure, including the development of salary grades or pay bands. o Provide a revised job classification system, if necessary, to ensure it aligns with the City’s compensation strategy and employee roles. 6. Employee Training for Compensation Strategies: o Conduct training for key City personnel (e.g., HR staff, managers, and administrators) on how to implement and communicate compensation strategies and practices. o Provide guidance on how to maintain equitable pay structures and make adjustments based on future market trends.
