BOND LEGAL

Bond Legal were instructed to undertake a review of the remuneration of a number of director-level employees. We were asked advise on whether (a) the remuneration of those employees was at an appropriate level; (b) whether any pay differentials between the employees could be justified and (c) whether any adjustment to the remuneration of those employees was necessary.

We met with each of the employees to understand the nature of their respective roles and considered the terms of their written job descriptions. We then undertook a salary ‘benchmarking’ exercise which compared the salaries of the employees against those undertaking similar roles in the public, private and not-for-profit sectors. The analysis was complex given, firstly, that the roles of the employees did not neatly fit into the generic categories usually found in salary review guides and, secondly, because the employees were in receipt of generous pensions and other non-salary benefits.

Our written report made a number of clear recommendations, including proposed revisions to the Company’s standard pay bands. Our input has enabled the organisation to reconfigure the remuneration of a number of its senior employees in a manner that is fair, transparent and data-led.