Common use of Equity Fund Clause in Contracts

Equity Fund. ‌ Beginning in July 2023, in the event that MAPE believes a recruitment and/or retention issue exists for a particular classification as a result of external market salary issues, they may request a meeting with Human Resources to discuss these concerns. This meeting will commence as soon as reasonably practical but in no event more than 30 days after the request unless otherwise agreed by the parties. At this meeting, the Union must present data to support that recruitment and/or retention issues exists. Human Resources, in collaboration with the Union, will consider the information presented by the Union and will evaluate other relevant labor market data before issuing its findings. The County will set aside an equity fund of $250,000 to be used by all three MAPE contracts (i.e. General, HHS and Nurses) to address these recruitment and retention issues. If the compensation review results in a consensus that an equity adjustment is warranted, and funds exist in the equity set aside, the increase will be forwarded to the Board of Supervisors for approval. This Equity Fund set aside is for the term of this Agreement only and is not subject to the grievance procedure. Remaining funds will be returned to the general fund if not utilized during the term of this agreement.

Appears in 4 contracts

Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement

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