Finance wants next year's pay plan built only from the last decade of COLA history. What should the CHRO add?
Select an answer to reveal the explanation.
Short Explanation
Driving with only the rear-view mirror is how a city prices last decade's labor market. COLA history says what was given, not what jobs cost now or whether classes still match the work. Add current market and classification data or the pay plan is a scrapbook.
Full Explanation
Historical internal COLA series is one input to a pay plan, not a complete evidence base. Labor markets, job content, and classification structures change, so last decade's increases can institutionalize misalignment. Current salary-survey and classification-study data tell the CHRO whether ranges still recruit and whether jobs are still the jobs being priced. SPHR pay strategy combines history with present-tense market and job evidence.