GB-London: FSCS408 Salary Benchmarking

FSCS is seeking to appoint a single Service Provider for the delivery of salary benchmarking and pay review services.

Summary statement of the scope of services.

Key deliverables:

•Carry out external benchmarking to ensure that all roles within FSCS are paid fairly and competitively against the appropriate market.

•Perform an annual market review of salaries and provide information to ensure the Remuneration and Human Resources Committee is up to date and able to make informed decisions. •Carry out pay modelling to identify any equal pay risks and outliers and advise on options to move to address any issues.

•Perform a biennial full salary benchmark review based on role profile information and input from budget holders.

•Provide advice and guidance to the Remuneration and Human Resources Committee, People Team and Senior Leaders on all aspects of pay and reward.

Mandatory/Essential Requirements

The supplier must have extensive knowledge and experience in the pay process that:

•Is fit for purpose and flexible to align with the skills and capability requirements of FSCS evolving strategy for the 2020's. •Drives and embeds a high-level capability and delivery culture at all levels.

•Ensures FSCS's reward offer is current and relevant to market rates.

•Addresses difficulties in recruitment and retention to 'in demand roles' such as Communications, IT and Data.

The supplier must also have:

•knowledge and experience of market rate pay and pay challenges for a wide range of roles and organisations;

•knowledge and experience of pay systems and processes across the financial, public, private and third sector; and

•a minimum 3 years of experience in conducting sociological research, with evidence of complex studies carried out in reward and remuneration.

Additional information: The contracting authority considers that this contract may be suitable for economic operators that are small or medium enterprises (SMEs). However, any selection of tenderers will be based solely on the criteria set out for the procurement.