The selected firm will provide expert consulting to ensure JPS Health Network’s executive compensation and benefits packages are competitive, compliant, and aligned with industry standards. This includes attending all required Board and HR Committee meetings to provide periodic updates, with the flexibility for ad hoc meetings as requested by the Subject Matter Experts (SME), the Board, or the consultant to address specific issues. Working alongside JPS Health Network’s HR Total Rewards staff, the firm will provide benchmarking and competitor analysis to ensure the organization remains competitive in attracting and retaining top executive talent. This will include an assessment of best practices, industry standards, and tracking key performance indicators (KPIs). The firm will also develop communication and education strategies to effectively inform executives about their benefits. Additionally, the firm will assist with compliance by ensuring that all Internal Revenue Service (“IRS”) and Department of Labor (“DOL”) reporting requirements are met, with accurate and timely filings. The firm will stay current on legislative, regulatory, and industry changes, offering guidance on best practices and compliance to support the organization’s ongoing fiduciary responsibilities.
