Energy Workforce Solutions
It is quite clear to those in the utility industry that we are experiencing challenging conditions retaining talent, transferring critical operation knowledge, and attracting qualified personnel. This is due to numerous conditions, including extensive Baby Boomer retirements, hiring freezes due to budget or revenue concerns, compensation challenges, competition for talent, and weak industry preparation of the next generation of leaders.
Mycoff Fry Partners identified the threat in the 1990’s and began preparing our organization and network of contacts to provide solutions. We ultimately formed MFP-Connect, a subsidiary company of Mycoff Fry Partners capable of providing back office support for temporary employees and utilizing our extensive industry network to identify early-retired executives, management, and project personnel to assist our clients to temporarily employ a solution.
Our clients utilize this service to locate experienced personnel that typically provide the following services:
- Fill vacant positions during the period of a recruitment process. Often called an “Interim placement”
- Function in critical short-term roles, such as special project leadership or assisting the client with strategy development
- Mentor and train existing employees by transferring years of specialized knowledge and experience
Hometown Connections Partnership
Mycoff Fry Partners formed a joint venture with Hometown Connections, a subsidiary of the American Public Power Association (APPA), as a solution to extend the aforementioned services to Hometown’s public power utility members.
The partnership enables our combined teams to further extend our slate of products and services to public power utilities, joint action agencies, and state associations, providing experienced professionals for temporary assignments. The MFP-Connect network of retirees enables APPA members to engage established leaders in the industry to maintain or advance an organization during an executive search process, mentor a less experienced new leader in the organization, or complete a strategic or project initiative with a temporary expert.
APPA members also have the option of accessing MFP-Connect personnel through a professional services agreement arranged by a public power joint action agency or state/regional association or by contracting with MFP-Connect directly.
Another service available through the coordinated effort between MFP Connect and Hometown Connections is customizable compensation studies. We partner with a certified compensation consultant who collects compensation data and provides comprehensive market analysis and salary recommendations. Surveyed positions include executive, managerial, specialist, and craft-level roles in the utility industry.
APPA members work with Hometown Connections to determine the market value of senior executive positions through compensation studies that are specific to the electric utility industry and region of the U.S. With the support of the energy workforce experts at MFP-Connect™, Hometown Connections arranges for a certified compensation consultant to offer a public power utility two service options:
- Custom survey of executive compensation packages—collecting data and analyzing the results; or
- Market pricing study based on existing compensation survey data purchased from a publisher by the utility. The final report includes a comprehensive market analysis and salary recommendations for review by the governing board and senior staff of the utility
The process enables APPA members to determine how much other utilities are paying for specific executive positions.