SUBJECT:
Title
Compensation Market Study Presentation
Department
DEPARTMENT: Human Resources
Presenter
PRESENTER(S): Alicia Melendez, Human Resources Director
Laurie Graves, Graves Consulting, Presenter
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Time
TIME ESTIMATE: 60 minutes
end
For time estimate: please put 0 for Consent items.
Fiscal
FISCAL SUMMARY:
N/A
Policy
POLICY ISSUES:
Later this year, the Town Council will be reviewing and considering the recommended budget for 2026, with formal adoption scheduled for November 18. This Compensation Market Study review will provide Council Members with information about how HR staff and Town management consider market increases in compensation, the labor market, and other factors to assist in the decision-making process for the 2026 Budget.
Recommendation
STAFF RECOMMENDATION:
Consider and discuss the key points of the Town’s Compensation Market Review process with staff and Graves Consulting.
Body
SUMMARY/KEY POINTS
• Each year with the help of Graves Consulting the Town gathers current compensation data from valid survey sources that reflect the Town’s labor market.
• The consultant will provide recommendations for compensation market increase implementation and ongoing structure maintenance.
• The consultant provides recommendations to create/revise pay structure(s) based on this data.
BACKGROUND OF SUBJECT MATTER:
The Town of Erie has maintained a strategic partnership with Laurie Graves of Graves Consulting for more than eight years, leveraging their expertise in pay equity and fair pay standards to receive fact-based, impartial guidance. The objective of the current market study is to review the Town’s compensation practices relative to the Town’s labor market and recommend adjustments to stay competitive and fair.
To do this, the market study systematically analyzed compensation data across various departments and roles within the Town of Erie, benchmarking these results against those of neighboring municipalities, including Broomfield, Arvada, Firestone, Frederick, Golden, Superior, Windsor, and broader surrounding markets as explained in the presentation. Additionally, positions are benchmarked with applicable private sector positions which act as a growing source of employment competition.
Addressing the findings in this market study is essential to promote fairness in compensation and remain competitive to retain talented staff and attract qualified staff when vacancies occur. The presentation will examine the study results, review market factors, and discuss compensation best practices.
priorities
TOWN COUNCIL PRIORITY(S) ADDRESSED:
☐ Attractive Community Amenities
☐ Engaged and Diverse Community
☐ Prosperous Economy
☐ Well-Maintained Transportation Infrastructure
☐ Small Town Feel
☐ Safe and Healthy Community
☒ Effective Governance
☐ Environmentally Sustainable
☒ Fiscally Responsible
attachments
ATTACHMENT(S):
1. Market Study PowerPoint