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5/29/2024 <br />0 <br />.- — — m�Mw�l l,ne$MN �resMa a <br />.Mx <br />wbere cast of b�i� is a measaremen< p <br />of goods antl servic¢sin eacM1 area, tl,e 1. - ecbe �nop - <br />mst of labor is a measuremen[of <br />compensation paid rat <br />Cost of lab. can be impacletl by [M1e <br />cost of Irving but¢ ainlyinfluencetl by <br />[besupply antl tlemaeM of labor in eacM1 Assessor toolwM1icM1u 1 g p isM1 y Bureau NLabor Staeseb. <br />rea (rate of unemployment antl <br />numberof qualifietl laborers). <br />External Equlvy <br />Market Assessments: Results <br />• All 35 positions within ERMU were included in the market survey as a benchmark position. <br />• Of the 35 benchmark positions, none had insufficient data (less than 3 matches). <br />• Overall, the study yielded market values for 100% of the organization's positions. <br />• Average minimum, midpoint, and maximum results were prepared for each benchmark vdth <br />sufficient data. <br />Benchmarks had 6 3 matches on average. <br />31 % of the benchmarks had 8 or mole matches each. <br />• A comparison of current midpoints vs. the market average midpoint was also prepared. <br />Additional market thresholds demonstrating 5 % above and 5% below market were also <br />prepared for consideration. <br />• On average, ERMU is 4.4 % below market at the minimum, 9.5% below market at the <br />midpoint, and 12.8% below market at the maximum. <br />• Based on this information, ERMU proposed to align pay plans at 100 % of market. <br />Pay Plan <br />Pay Plan Development <br />Baker Tilly led discussions with the ERMU's project team with regards to the <br />number of pay plans, type of pay plans, and design of pay plans. <br />Determination for the number of pay plans an organization needs may be <br />influenced by the diversity of jobs, diversity in grading procedures, internal <br />equity versus external competitiveness, and even your organizational culture. <br />The organization currently has four pay structures: <br />Baker Tilly developed a new pay structure: General plan- 35 positions <br />A consolidated pay plan streamlines administration, enhances internal <br />consistency, simplifies communication, and promotes equity by unifying <br />compensation structures, reducing complexity, and ensuring uniformity and <br />fairness across all positions. <br />122 <br />