RFP

Compensation Review Q & A 

Question 1:  Is the BCMB firmly committed to the current compensation plan as outlined in Appendix 2 of the RFP, Compensation Principles and Guidelines?

  • Answer: Yes.

Question 2: The RFP states that BCMB attempts to replicate a consistent sample of comparison organizations.  Which organizations were used in the most recent review conducted for BCMB?

  • Answer: The Payscale compensation database was used for the most recent salary survey.

Question 3: When was the last review completed?

  • Answer: February 2015.

Question 4: Which consulting firm assisted BCMB with the last review?

  • Answer: We do not wish to disclose who assisted the BCMB with prior compensation reviews.

Question 5: The RFP states that the project will commence on January 23rd and the consultant’s report is to be delivered on March 7th, indicating a total project timeframe of 6 weeks.  This is a constrained timeframe recognizing the consulting tasks required to complete appropriate due diligence, coupled with the fact that the work plan has to allow for the necessary cooperation/involvement of third parties I.e.:  the survey comparison organizations.  Therefore: (a) does the amount of due diligence in the work plan have to be tailored to the 6 week timeframe OR (b) will BCMB consider alternative work plans with a higher level of due diligence but which may necessitate a time frame longer than 6 weeks?

  • Answer: In your proposal please provide the necessary amount of time that is required to complete the deliverables.

Question 6: No. 4. AVAILABILITY on page 4 of the RFP states that “The consultant must be available to provide services for a period of up to two weeks in February 2017…etc.”  Is this suggesting that the work plan will be completed by the consultant in up to two weeks in February?

  • Answer: We expect the work to take up to two weeks to complete the deliverables.

Question 7: Do you expect that selection interviews with consultants will be in person or by teleconference?

  • Answer: Our preference is to have interviews with shortlisted candidates in person.

Question 8: Can you please advise if the job descriptions in place for BCMB staff are current and up to date?  If possible, can you please confirm when they were last updated?

  • Answer: The job descriptions in place are current and up to date. All have been reviewed in the last 12 months.

Question 9: With respect to the Compensation Philosophy, do you want a review and recommendations on what if any changes need to be made to the  compensation philosophy to ensure that it meets the objectives of the organization in regards to attracting and retaining staff?

  • Answer: It is not a requirement of the RFP.

Question 10: Will there be a sub-committee/persons that we will work with and that will be available to answer questions and provide information?

  • Answer: Yes.

Question 11: Is there a requirement to conduct a customized compensation survey in order to determine competitive positioning?

  • Answer: No.

Question 12: Does BCMB know the organizations that they want to compare/benchmark themselves to with respect to market positioning?

  • Answer: No. 

Question 13: What if any compensation surveys does BCMB participate in currently?

  • Answer: WCBC - Private Survey.