Compensation Objectives. 3.3.1. Contractor shall identify and agree on appropriate comparator agencies with the County of Orange prior to the commencement of the compensation analysis. Current commonly used comparable agencies include:
Compensation Objectives. ⮚ To make recommendations regarding a list of appropriate, logical and defensible comparator agencies, benchmark classifications, and benefits to be collected prior to beginning the compensation portion of the study; ⮚ To collect accurate salary and benefit data from the approved group of comparator agencies and to ensure that the information is analyzed in a manner that is clear and comprehensible to the Study Project Team, Human Resources, management, employees, union representation, and the City Council; ⮚ To carefully analyze the scope and level of duties and responsibilities, requirements for successful work performance, and other factors for survey classes, according to generally accepted compensation practices; ⮚ To review the City’s compensation structure and practices and develop compensation recommendations that will assist the City in recruiting, motivating, and retaining competent staff; ⮚ To develop solutions that address pay equity issues, analyze the financial impact of addressing pay equity issues, and create a market adjustment implementation strategy supporting the City’s goals, objectives, and budget considerations; ⮚ To evaluate benefit offerings in the labor market and make recommendations for better alignment and/or different benefit offerings as indicated by the analysis and best practices; ⮚ To create a comprehensive final report summarizing the compensation study approach and methodology, analytical tools, findings, and recommended compensation structure; ⮚ To recommend appropriate internal salary relationships and allocate classes to salary ranges in a comprehensive salary range plan; and ⮚ To ensure sufficient documentation and training throughout the study, on methods used to determine appropriate salary ranges, methods for logical progression of movement within the salary scale for each classification, and other practices, so that our recommendations can be implemented and maintained in a competent and fair manner. Overall Objectives: ⮚ To review and understand all current documentation, rules, regulations, policies, budgets, procedures, class descriptions, organizational charts, memoranda of understanding, personnel policies, wage and salary schedules, and related information so that our recommendations can be operationally incorporated with a minimum of disruption; ⮚ To conduct start-up Study Project Team meetings with management, study project staff, and other stakeholders to discuss any specific concerns with respect to the...
Compensation Objectives. We believe that our compensation program must support our strategy, be competitive, and provide both significant rewards for outstanding performance and clear financial consequences for underperformance. We also believe that a significant portion of the named executive officers’ compensation should be “at risk” in the form of annual and long-term incentive awards that are paid, if at all, based upon company performance. The compensation awarded to our named executive officers for fiscal 2008, as well as prior years, was intended: • To encourage and reward strong performance; and • To motivate our named executive officers by providing them with a meaningful equity stake in the company. The accounting and cost implications of our compensation program are considered in program design; however, the main driver of design is alignment with our business needs.
