COUNCIL COMMUNICATION
TO: Honorable Mayor and Council
FROM: Bobbie J Kimelton, Human Resources Director
SUBJECT:Title
Discussion and Action: Selection of Market Comparator Organizations to be Used as Relevant Benchmarks for Compensation and Classification Study Being Conducted by Public Sector Personnel Consultants (Bobbie Kimelton)
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FUNDING SOURCE:
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PURPOSE:
To identify market comparator organizations to provide relevant benchmarks for compensation and classification study to ensure study results are valid, equitable and tailored to the City’s organizational context utilizing factors such as geographic proximity, economic and labor market similarities, population size, organizational size and complexity, industry or sector alignment, cost of living and economic conditions, service and role parity and availability of reliable data and strategic objectives of the City.
BACKGROUND:
The changing landscape of the compensation and classification market for Lake Havasu City is shaped by a variety of economic, social and organizational factors that make it challenging to identify market comparator cities. The key drivers and trends that influence this transformation include economic drivers, technological advances, demographic and workforce trends, regulatory and legal factors, and cultural and social shifts. The dynamic interplay of factors has forced the City to innovate and adapt compensation strategies to remain attractive to talent and to align with broader economic and cultural trends. The successful identification of market comparator cities provides the benchmarks for identifying a compensation and classification philosophy for attracting and retaining a skilled and qualified workforce.
COMMUNITY IMPACT:
By identifying market benchmarks to be used in establishing the City’s compensation and classification strategies, the City is able to attract and retain a highly skilled and qualified workforce as well as to identify programs and initiatives that will allow Lake Havasu City to be considered the employer of choice for its citizens.
FISCAL IMPACT:
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ATTACHMENTS:
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SUGGESTED MOTION:Recommended Action
I move to adopt the recommendation of Public Sector Personnel Consultants to utilize the identified market comparator cities.