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Immediate Implementation cost: $32,963 (see attachment C) Please note there is a <br />delayed cost for the following years as six positions (noted as "start" in attachment B) <br />subsequently move through the steps in later years. We estimate $53,000 +/- of <br />future impacts but they will be spread over the next 2-7 years and will be based on <br />satisfactory or above performance. <br />Option #2 aka The Full Market Adjustment <br />The employee would move to the new step and grade program and remains at their <br />current step (regardless of their current salary). <br />Assumption: employees that are currently being compensated above the proposed <br />wage remain frozen at their current rate of pay. <br />Immediate Implementation cost: $86,104 <br />2. Next step: decide whether to implement Option #1 or Option #2 for market <br />adjustment. <br />The study was conducted assuming a 2.75% COLA increase in 2016 to keep pace <br />with the market. The cost to implement this is $36,792. <br />3. Next step: decide what amount the Council is comfortable with a COLA <br />increase. <br />Recommendation <br />I recommend you implement the phased program using Option #1 if combined with <br />the recommended COLA increase. I believe this shows responsiveness to the market <br />while demonstrating fiscal responsibility. It's my position that option #2 is not <br />fiscally possible with the approved preliminary 2016 budget. I also believe it's <br />important to be able to say to employees that the City is following through and values <br />paying market rate to employees. <br />I recommend a 2.75% COLA increase similar to union employees so we can keep up <br />with the market and avoid large market adjustments again in the future. Please note <br />COLA increases are not given for positions if they are over the market rate. <br />