Agenda item

Refreshing the Pay and Reward Strategy for the City of London Corporation

Report of the Director of Human Resources.

Minutes:

The Committee considered a report of the Director of Human Resources which proposed an increase to the thresholds for the awarding of Market Forces Supplement by the Market Forces Board.

 

RESOLVED – That the Committee agrees that:

 

a)    In order to retain the robust system all supplements can only be awarded on the basis of independently verified market data, using valid comparators.

 

b)    Submissions have to include what has been done to make the job and the department more attractive to candidates or to retain existing staff.

 

c)    Submissions must also include what terms and conditions have been considered to widen the field of candidates including increasing diversity.

 

d)    Market Forces Supplements can be awarded by the Market Forces Board up to:

                                  i.    £10,000 for posts grade F and below

                                ii.    £15,000 for Grades G & H

                               iii.    £20,000 for Grades I & J

 

e)    All supplements awarded are summarised and reported to Establishment Committee four times a year.

 

f)     Payment of honoraria remains unchanged

 

 

Supporting documents: