Published April 2021 by Strategic Pay.
Strategic Pay were proud to work with the Racing Integrity Board to provide an independent professional remuneration and market data advice for the Chief Executive role of the newly established regulatory body using job sizing tools and our comprehensive market database.
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Strategic Pay were engaged to provide remuneration and market data advice for the Chief Executive role of the newly established regulatory body.
Strategic Pay reviewed the information about the new organisation and its context, including the background, the legislation establishing the new body, some history of the existing organisations from which the new agency was being developed, the potential staffing and structure, and discussed the intention and aims of the new organisation and expectations of the role of Chief Executive with the Chair of the transitional body.
We used our job evaluation tool SP10®, which is well suited to the subtleties and nuances of executive and specialist roles, to assess the relative size of the role given the accountabilities and the expertise required to fulfil these accountabilities. We then accessed our comprehensive market remuneration databases to provide a range of information across different industry and sector markets. This enabled a balanced view from which we could provide our advice and a recommendation of an appropriate remuneration level for the Chief Executive role.
ResultsAn independent professional opinion on an appropriate level of remuneration for the Chief Executive role considering the context of the organisation, the organisation’s ability to pay and the recruitment pool from which the organisation was most likely to find a suitable candidate. This was provided in a comprehensive report which referenced a broad range of remuneration information to inform the organisation’s decisions along with our advice on the most appropriate market alignment and how to interpret and apply the information provided.