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TO: Mayor Richard C. Irvin
FROM: Human Resources Department
DATE: June 27, 2024
SUBJECT:
A resolution requesting authorization to utilize Korn Ferry on matters related to the formation and making of a recommendation for compensation adjustments of elected officials pursuant to the Local Government Officer Compensation Act.
PURPOSE:
Requesting authorization for Korn Ferry to conduct a market survey for the purpose of making recommendations regarding compensation for elected officials pursuant to the Local Government Compensation Act.
BACKGROUND:
Illinois law places the duty of setting the compensation of the Mayor and the Aldermen on the Council.
Korn Ferry is a current vendor of the city, known for the "Hay Study" making compensation and benefit recommendations for city employees. At the request of the Finance Committee, Human Resources obtained a quote. The quote was presented and received consensus at the Thursday, June 27, 2024 Finance Committee, staff was directed to create an item for consideration on new business at the Tuesday, July 2, 2024 Committee of the Whole Meeting.
DISCUSSION:
Korn Ferry (KF) is a current vendor of the city, known for the "Hay Study" making compensation and benefit recommendations for city employees. At the request of the Finance Committee, Human Resources obtained a quote. The quote was presented and received consensus at the Thursday, June 27, 2024 Finance Committee, staff was directed to create an item for consideration on new business at the Tuesday, July 2, 2024 Committee of the Whole Meeting.
The study will include the following:
* Evaluation of the Aldermanic and Mayoral compensation;
* Create a custom peer group of up to 15 Midwest cities comparable in size complexity and governance style to Aurora;
* Gather publicly available data for the role of Mayor and Alderman for each city in the peer group;
* Analysis and presentation of the publicly available data gathered;
* Market pricing of each job by KF Hay po...
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