Present and Discuss the Compensation Market Study Results and Recommendations.
BACKGROUND:
During the August 6, 2020 Special Meeting and Budget Work Session, Council directed staff to conduct a Compensation Market Study (Study) and to develop recommendations based on the Study findings.
Staff, working with Public Sector Personnel Consultants, has completed the Study. The Study utilized the Town’s 13 comparison cities of Allen, Carrollton, Coppell, Farmers Branch, Flower Mound, Frisco, Grapevine, Irving, Lewisville, McKinney, Plano, Richardson and University Park. The Study reviewed salary competitiveness in relation to our comparison cities of almost 100 benchmark positions. Staff and the consultant will present the detailed findings of the Study.
In accordance with Council's adopted compensation philosophy (R17-38) and the August 6, 2020 direction from Council, Staff also developed recommendations in response to the Study's findings, projected the long term financial impact of the recommendations, and identified funding sources to cover the cost of the recommendations. These will be presented for Council discussion.
This addendum includes the presentation for this item.