Pay and Benefits Benchmarking review

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    "name": "Development Bank of Wales"
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  "date": "2025-10-09T13:53:31+01:00",
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        "region": "UKL22",
        "streetAddress": "1 Capital Quarter"
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        "email": "leanne.millard@developmentbank.wales",
        "name": "Leanne Millard",
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    "description": "This notice is the tender notice for the Pay and Benefits review for Development Bank of Wales.\nThe Development Bank of Wales (\u0027DBW\u0027) 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.\nWe 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.\nAnnual Benchmarking Report for Group\nThe groups benchmarking report should include:\no public and private sector\no all of the UK\no equity/tech investment comparator information\no a detailed analysis of market movement/ conditions etc\no Comparison of DBW pay bands to the market, to account for inflation and market movement\no Reference to pay equity in all areas including but not limited to - location, ethnicity and gender.\nJob Evaluation and individual benchmarking\nWe 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.\nWe 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.\nIn line with best practice, we require an ongoing Job Evaluation service to correctly size roles of up to 40 per year.\nThe 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.\nThe Job Evaluation service will be required on an ad-hoc basis throughout the year as roles develop.\nDetailed descriptions will be required for the submissions, assuming no prior knowledge.\nObjectives\nAssess the current pay and benefits framework.\nBenchmark against relevant sector and regional comparators.\nIdentify areas of inequity, inefficiency, or misalignment.\nRecommend improvements to support recruitment, retention, and employee engagement.\nEnsure compliance with relevant legislation and best practice.\nDeliverables\nInception report outlining methodology and timelines.\nInterim findings report with benchmarking data.\nFinal report including:\nAnalysis of current pay and benefits.\nBenchmarking outcomes.\nRecommendations for change.\nImplementation plan.\nPresentation to senior leadership.\nTenderers must demonstrate:\nProven experience in conducting pay and benefits reviews.\nKnowledge of relevant legislation and sector-specific standards.\nStrong analytical, communication, and stakeholder engagement skills.\nCommitment to equality, diversity, and inclusion.",
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    "title": "Pay and Benefits Benchmarking review",
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