Scope
Reference
DBW00187.00
Description
This notice is the tender notice for the Pay and Benefits review for Development Bank of Wales.
The Development Bank of Wales ('DBW') is seeking to engage a qualified and experienced organisation to undertake a comprehensive review of our current pay and benefits structure. The aim is to ensure our remuneration practices are fair, competitive, and aligned with industry standards, organisational values, and strategic objectives. The successful organisation will undertake an annual pay and benefits benchmarking exercise to better understand how the Development Bank of Wales Group compares to the rest of the UK market.
We will be using the open procedure to undertake this project with a view to appoint a single provider for an initial 3 year period with the option to extend for a further 3 years in 12 month increments.
Annual Benchmarking Report for Group
The groups benchmarking report should include:
o public and private sector
o all of the UK
o equity/tech investment comparator information
o a detailed analysis of market movement/ conditions etc
o Comparison of DBW pay bands to the market, to account for inflation and market movement
o Reference to pay equity in all areas including but not limited to - location, ethnicity and gender.
Job Evaluation and individual benchmarking
We also require job evaluation methodology for each individual role benchmarked. The provider should be confident they have access to meaningful benchmarking data to the company in this field, considering the geographical locations of the DBW, to ensure accurate salary recommendations are provided for each role that has been benchmarked.
We are seeking an external Compensation and Benefits specialist to provide an annual benchmarking review of our pay and benefits in comparison to the UK market, and to provide advice on any movement in the market and any changes that should be made to the pay bands, individual roles, specialisms in respect of pay, incentives and benefits.
In line with best practice, we require an ongoing Job Evaluation service to correctly size roles of up to 40 per year.
The benchmarking review report is required to inform the annual pay review undertaken in April; therefore the annual report would be required at the beginning of March.
The Job Evaluation service will be required on an ad-hoc basis throughout the year as roles develop.
Detailed descriptions will be required for the submissions, assuming no prior knowledge.
Objectives
Assess the current pay and benefits framework.
Benchmark against relevant sector and regional comparators.
Identify areas of inequity, inefficiency, or misalignment.
Recommend improvements to support recruitment, retention, and employee engagement.
Ensure compliance with relevant legislation and best practice.
Deliverables
Inception report outlining methodology and timelines.
Interim findings report with benchmarking data.
Final report including:
Analysis of current pay and benefits.
Benchmarking outcomes.
Recommendations for change.
Implementation plan.
Presentation to senior leadership.
Tenderers must demonstrate:
Proven experience in conducting pay and benefits reviews.
Knowledge of relevant legislation and sector-specific standards.
Strong analytical, communication, and stakeholder engagement skills.
Commitment to equality, diversity, and inclusion.
Total value (estimated)
- £180,000 excluding VAT
- £216,000 including VAT
Above the relevant threshold
Contract dates (estimated)
- 8 December 2025 to 7 December 2028
- Possible extension to 7 December 2031
- 6 years
Description of possible extension:
3 years in 12 month increments
Main procurement category
Services
CPV classifications
- 73000000 - Research and development services and related consultancy services
- 79000000 - Business services: law, marketing, consulting, recruitment, printing and security
Contract locations
- UK - United Kingdom
Participation
Legal and financial capacity conditions of participation
Please refer to tender documentation
Technical ability conditions of participation
Please refer to tender documentation
Particular suitability
Small and medium-sized enterprises (SME)
Submission
Enquiry deadline
30 October 2025, 12:00pm
Tender submission deadline
13 November 2025, 12:00pm
Submission address and any special instructions
Tenders may be submitted electronically
Yes
Languages that may be used for submission
English
Award decision date (estimated)
26 November 2025
Recurring procurement
Publication date of next tender notice (estimated): 8 October 2031
Award criteria
| Name | Description | Type | Weighting |
|---|---|---|---|
| Technical | please refer to tender documents |
Quality | 60.00% |
| Commercial | Please refer to tender documennts |
Price | 40.00% |
Other information
Payment terms
DBW has a 30 day payment policy. Please note all invoices are to have a unique identifier number, failing to provide this may result in delayed payment.
Description of risks to contract performance
NA
Conflicts assessment prepared/revised
Yes
Procedure
Procedure type
Open procedure
Documents
Associated tender documents
http://etenderwales.bravosolution.co.uk
ITT code on the etenderwales platform is itt_120515
Technical specifications to be met
http://etenderwales.bravosolution.co.uk
ITT code on the etenderwales platform is itt_120515
Contracting authority
Development Bank of Wales
- Public Procurement Organisation Number: PCWM-6438-QYVP
1 Capital Quarter
Cardiff
CF10 4BZ
United Kingdom
Contact name: Leanne Millard
Telephone: 029 2080 1715
Email: leanne.millard@developmentbank.wales
Website: http://www.developmentbank.wales
Region: UKL22 - Cardiff and Vale of Glamorgan
Organisation type: Public authority - central government
Devolved regulations that apply: Wales