Title
Resolution - Approval of 2016 Employee Compensation Study - J Beggs
Other Info
Submitted By: Julie Beggs
Department: Corporate Services
Financial Impact and Cost/Benefit Considerations: N/A
Discussion
Pedernales Electric Cooperative (PEC) establishes guidelines for managing PEC’s employee pay and compensation practices; maintains equitable and competitive salary ranges consistent with PEC’s economic requirements; and attracts and retains qualified employees by maintaining a compensation structure that is competitive with the external job market.
Body
WHEREAS, the AON Hewitt Group performed a comprehensive Compensation Study that reviewed job descriptions at the Cooperative, benchmarked the compensation of a majority of those jobs against comparable jobs at other companies, and proposed a revised Wage Scale to accompany the job descriptions; and
WHEREAS, the Board of Directors of the Cooperative (the “Board”) has reviewed the proposed new Wage Scale, and desires to approve and adopt the Wage Scale which is designed to ultimately target the Cooperative’s base salary for all job classifications at the 75th percentile of the marketplace; and
NOW, THEREFORE BE IT RESOLVED, by the Board that the Compensation Study and Wage Scale presented to the Board this day is adopted and approved as discussed by the Board for all Cooperative employees; and
BE IT FURTHER RESOLVED, that the Chief Executive Officer, or designee, is authorized to take all such actions necessary to implement this resolution including, but not limited to, making adjustments for individual employee’s base pay so that each employee is at least at the minimum of the employee’s new grade for their position in the Wage Scale.