EXTRA-7216 - USA (Aspen, Colorado) - Compensation and Classification Study Consulting Services - Deadline February 10,2020

Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID: EXTRA-7216

Government Authority located in Aspen, Colorado; USA based organization looking for expert vendor for compensation and classification study consulting services.

[A] Budget: Looking for Proposals

[B] Scope of Service:

(1) Vendor needs to provide compensation and classification study consulting services to the government authority located in Aspen, CO.
- Attract and retain qualified employees through competitive pay.
- Ensure salary structure is competitive with other comparable public and private entities and private entities within geographic region and across industry.
- Establish comparable peer groups for current and future compensation and classification updates.
- Adopt repeatable compensation methodologies for the future.
- Deliver educational materials and information for key stakeholders pertaining to a new compensation philosophy, benchmark positions, peer group(s), and assist human resources in providing communication updates city-wide.
- Comparable Organization Research
1. This analysis should consider the city’s current classification structure and jobs (unique and standard), industry (both private and public), organization size (budget, scope, & FTE counts), cost of living analysis, geographic position and significance, and other key metrics to include but not limited to turnover & retention rates.
2. The analysis and recommendation should also include private and public sector entities where appropriate.
3. Comparable organization analysis may be representative of separate classifications or industries. for example: law enforcement, performing arts, utilities, etc.
4. The identification of comparable organizations should also include peer organization information, and survey and salary data which is readily available from established sources.
5. Peer group (comparable organization) selection should be sufficient to ensure that salary data collection is statistically valid.
- Compensation Philosophy
1. Provided and recommended compensation philosophy methodology must be repeatable year after year and take into account readily accessible market data and salary surveys.
2. Summary of collected research validating recommendation which should include the following factors: cost of living analysis, geographic position and relevance, regional and private sector information, relevant national information, selected organizational comparable information, and current economic conditions.
3. Provide a specific messaging plan on new compensation philosophy which will take into account cost of living while being fiscally responsible and other important factors discussed above.
- External Market Analysis
1. Summary of collected external labor market data, which should include identified matches to external and internal jobs, align with recommended compensation philosophy, a gap analysis on current compensation structure to external labor market, a gap analysis on external labor market and current employee salaries.
- Compensation Structure Analysis
1. Provide a minimum of three (3) compensation structure options that at a minimum include the two current compensation structures.
2. Recommendation should include placement of anchor and benchmark jobs: jobs that were identified during the external market review.
- Actual Pay
1. Solution (s) for potential gaps between employee pay and external labor market.
a. Should include a minimum of two (2) options for addressing pay.
2. Identification of compression issues with alignment with revised compensation structures.
a. Should include a minimum of two (2) options for addressing pay.
3. Implementation Analysis: summary of options, and presentation of costs and impacts to provided solutions.
(2) All questions must be submitted no later than January 31, 2020.

[C] Eligibility:

- Onshore (USA Only);

[D] Work Performance:

Performance of the work will be Offsite. Vendor needs to carry work in their office location.

Expiry Date : Monday, 10 February, 2020

Question Answer Deadline : Friday, 31 January, 2020

Category : Professional, Consulting, Administrative or Management Support Services, HR Services

Country : USA

State : Colorado

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