Title
Presentation of the Compensation and Benefit Study.
(Note: This item was CONTINUED from December 7, 2017 per Council’s request.)
Body
Issue/Request:
PRESENTATION OF THE COMPENSATION AND BENEFIT STUDY
Key Issues:
The City has engaged Springsted, Inc. to complete a compensation and benefit study to assess internal equity and external market competitiveness. Mr. TL Cox will present the final report, Compensation Philosophy, as well as recommend a pay structure for adoption and implementation.
Background:
On November 17, 2016, the Mayor and City Council approved a contract with Springsted, Inc. to conduct a compensation and benefit study. The purpose of the study was to review the compensation and benefits provided for City employees and compare those to the competitive market, as well as analyze the internal equity of the City's structure.
On June 15, 2017, TL Cox, Vice President, Springsted Inc, presented the City Council with preliminary compensation and benefit market data. The final report which will be presented to the Mayor and City Council will include a compensation philosophy, market data, and new pay structures for review and consideration. Following delivery and presentation of the final report, staff will work to prepare documents for the Mayor and City Council's consideration that would implement the compensation philosophy and pay structures.
Presenter
Presenter: TL Cox, Springsted, Inc.
Recommendation
Recommendation: N/A
Committee Recommendation
Committee Recommendation: N/A