Section one: Contracting authority
one.1) Name and addresses
Financial Services Compensation Scheme
Beaufort House, 15 St. Botolph Street
London
EC3A 7QU
Contact
Jean Mutudza
Telephone
+44 2073758197
Country
United Kingdom
Region code
UKI - London
Internet address(es)
Main address
one.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at
Additional information can be obtained from the above-mentioned address
Tenders or requests to participate must be submitted electronically via
Tenders or requests to participate must be submitted to the above-mentioned address
one.4) Type of the contracting authority
Body governed by public law
one.5) Main activity
Economic and financial affairs
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
FSCS526 Salary Benchmarking and Related Services
Reference number
FSCS526
two.1.2) Main CPV code
- 79400000 - Business and management consultancy and related services
two.1.3) Type of contract
Services
two.1.4) Short description
Provision of salary benchmarking services on an ongoing basis with an initial one-off consultancy project to review FSCS's current approach and propose how the service can continue to support the ongoing evolution and health of the organisation going forward.
The outcomes sought are:
•Recommendations on the ‘health’ of the organisation and the roles within it;
•a fair and transparent job framework which meets the requirements of the organisation;
•a Pay Progression Model;
•salary benchmarks for all roles against the appropriate markets;
•a Remuneration Policy and processes that underpins and aligns with the organisation’s aims and, objectives;
•access to robust, quality salary and benefits market benchmarks;
•access to guidance and advice on all matters relating to job evaluation, salary, and benefits;
•reduced risk of people leaving because of pay and benefits.
two.1.5) Estimated total value
Value excluding VAT: £240,000
two.1.6) Information about lots
This contract is divided into lots: No
two.2) Description
two.2.3) Place of performance
NUTS codes
- UKI - London
Main site or place of performance
LONDON
two.2.4) Description of the procurement
FSCS requires a partner who can provide the following:
A one-off consultancy project to include the following outcomes:
•Review of organisation, accountabilities, spans of control, roles etc.;
•develop a job evaluation and pay framework i.e., levelling, functions and pay progression model;
•define appropriate markets for the roles;
•evaluate all roles using the agreed methodology;
•benchmark all roles against the appropriate market/s;
•review internal relativities and adjust as appropriate;
•review the FSCS Remuneration Policy and associated processes for implementation in view of the above, ensure that the agreed approaches to job evaluation and benchmarking, and the revised Policy are aligned;
•provide a full written report detailing all the above; including, but not limited to, the methodology used to evaluate the roles and the peer benchmarks used for each role;
•ensure that all key stakeholders understand the methodology and peer groups used for all roles, including the Executive and relevant Board Committees, senior leaders, and other stakeholders e.g., members of the People team;
•Equal Pay Audit, to identify any equal pay risks and advise on options to address any issues.
We anticipate that this work will be scoped at the beginning of the contract term.
As part of this work the service provider will be required to engage all appropriate stakeholders within FSCS.
At the time of the project, the service provider will be required to put forward a fully costed and detailed plan of how the project will be undertaken, outlining the rationale for the approach, critical activities and milestones, and indicative timelines. Any implementation will require sign off by the relevant person within FSCS before implementation.
The service provider will be required to present the findings of the project with recommendations to the FSCS Executive and the Remuneration and People Committee.
The service provider shall ensure that the ongoing service requirements are not impacted while the project is taking place.
Ongoing work:
•Job evaluation and market salary benchmarking for new and changed roles on an ad hoc basis providing a market range with quartiles and medians, and a written report including the methodology and benchmark peer groups;
•market salary benchmarking for all roles biennially providing market range with quartiles and medians;
•define ‘appropriate markets’ for all roles;
•deliver presentations to the Executive and relevant Board Committees, senior leaders, or other stakeholders e.g., members of the People team, at key points in the process in a benchmarking year as agreed at the outset or as reasonably required;
•guidance and advice on any organisational changes and impact on roles;
•ensure that any new key stakeholders understand the methodology and peer groups used for all roles, including new members of the Executive and relevant Board Committees, senior leaders, or other stakeholders e.g., members of the People team;
•perform an annual market review of salaries and the external environment affecting pay, and provide insights in the form of a report to the Executive and relevant Board Committee to inform the annual salary review recommendations, including insights on what the appropriate markets are doing/thinking, and how external factors are influencing organisation’s approach to pay awards;
•provide advice and guidance to the People Team on all aspects of pay and reward;
•provide Gender Pay Gap and Ethnicity Pay Gap reporting and recommendations for action;
•undertake all enquiries, surveys, and investigations as required, and deliver the outcomes within agreed timescales;
•submit reports to the FSCS no later than the dates specified by the FSCS unless otherwise agreed in writing.
two.2.5) Award criteria
Price is not the only award criterion and all criteria are stated only in the procurement documents
two.2.6) Estimated value
Value excluding VAT: £480,000
two.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months
24
This contract is subject to renewal
Yes
Description of renewals
2 x 12 month contract extension (maximum term - 48 months).
two.2.10) Information about variants
Variants will be accepted: No
two.2.11) Information about options
Options: No
two.2.13) Information about European Union Funds
The procurement is related to a project and/or programme financed by European Union funds: No
Section three. Legal, economic, financial and technical information
three.1) Conditions for participation
three.1.2) Economic and financial standing
Selection criteria as stated in the procurement documents
three.1.3) Technical and professional ability
Selection criteria as stated in the procurement documents
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Open procedure
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: Yes
four.2) Administrative information
four.2.2) Time limit for receipt of tenders or requests to participate
Date
15 January 2025
Local time
2:00pm
four.2.4) Languages in which tenders or requests to participate may be submitted
English
four.2.6) Minimum time frame during which the tenderer must maintain the tender
Duration in months: 6 (from the date stated for receipt of tender)
four.2.7) Conditions for opening of tenders
Date
15 January 2025
Local time
2:00pm
Section six. Complementary information
six.1) Information about recurrence
This is a recurrent procurement: Yes
Estimated timing for further notices to be published: 4 years
six.2) Information about electronic workflows
Electronic ordering will be used
Electronic invoicing will be accepted
Electronic payment will be used
six.3) 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.
For more information about this opportunity, please visit the Delta eSourcing portal at:
To respond to this opportunity, please click here:
https://www.delta-esourcing.com/respond/EK3U6665ZF
GO Reference: GO-2024123-PRO-28746493
six.4) Procedures for review
six.4.1) Review body
The Royal Court of Justice
The Strand
London
Telephone
+44 2073758197
Country
United Kingdom
six.4.2) Body responsible for mediation procedures
The Royal Court of Justice
The Strand
London
Telephone
+44 2073758197
Country
United Kingdom
six.4.4) Service from which information about the review procedure may be obtained
Financial Services Compensation Scheme
Beaufort House, 15 St. Botolph Street
London
EC3A 7QU
Telephone
+44 2073758175
Country
United Kingdom