Competitive Annual Salary

Career Framework Society Wide Information

Every role in Midcounties has been leveled using a nationally recognised job grading framework. This enables us to ‘size’ roles against other employers and ensures that we can benchmark our salaries.  As with most businesses the pay bands for each level are broad as they have to accommodate a number of different roles from a diverse set of industries. 

Our Society is a family of diverse trading groups, each with its own history but with a shared value set of democracy, openness, equality, and social responsibility. This means that whilst our trading groups have evolved their terms and conditions, pay, benefits and incentives in different ways over time it is really important that we establish a way of ensuring that reward is fair, regardless of the role you hold.

We want to ensure that Midcounties continues to be an attractive place to work and that our remuneration package underpins this. We also want to provide our colleagues with visibility of the career opportunities that may be available to them at the different levels and within the different departments within our Society.

We launched the Career Framework using the Korn Ferry Hay job evaluation methodology which is the most consistent and widely used and accepted technique in the world today.  

 

What is job evaluation?

• Job evaluation is a systematic process for ranking jobs logically and fairly by comparing job against job. It allows the Society to compare the relative size of roles and assists in creating a fair pay structure to ensure that roles of a similar size are paid at a similar level.

• Job evaluation is undertaken by appointed individuals who have been trained.

• The Pay Structure will help managers make effective decisions on pay for their colleagues, whilst also ensuring that salaries are fair, consistent, and non-discriminatory.

• Role scores are checked vertically and horizontally and are compared to both less and more senior roles by job type. They are also compared to similar roles across the Society to ensure consistency.

• Job evaluation focuses on the job itself, not on the colleague undertaking the role, and is an analytical tool that compares a range of factors such as Know How, Problem Solving and Accountability.

• Salaries are compared with similar roles within the UK employment market using reliable sources of external salary data to ensure we are paying an appropriate salary to attract and retain employees.  

• An up-to-date and meaningful role profile, alongside a current organisation chart, is key to ensuring that those carrying out the evaluation understand the role in question.

 

Have all roles been evaluated?

• All roles have been evaluated and put into the career framework.

• All roles evolve and business areas restructure and there is a continual process to evaluate new and roles and amend changing roles based on the most current job descriptions and organisation charts.

 

How is the salary structure created?

• Evaluated roles are grouped together with those of a similar size into a pay band.

• The ranking of roles is then validated with senior managers to ensure that it is fair and logical.

• All benchmarked roles have been compared against external market data.

• All this allows us to ensure that our career framework pay bands are reflective of salaries within the external market for organisations at the same or a similar size to us.

• Roles are benchmarked against the Market data and pay is reviewed against the data.

 

How many pay bands are there? 

• There are 12 levels within the career framework and therefore 12 pay bands in the salary structure. The career framework pay bands are fairly wide, encompassing a range of roles and salary levels, and overlap with the bands above and below them to allow for flexibility in rewarding performance and setting pay for promotions.

• Colleagues will be informed of their position within the career framework pay bands during the annual Pay Review process.

• Colleagues should discuss any concerns with the allocated career framework level for their role with their line manager in the first instance.

• There would need to be a significant increase in the requirements or duties of the current role for the role to be considered for re-evaluation. Significant increase examples include; change in the level of influence and communication, complexity of problem-solving, financial accountability.

• To view the Career Framework Guide click here 

 

Will the Career Framework pay bands change each year?

• The pay bands will be reviewed in relation to external market data at least annually, usually prior to the annual pay review process.

• Line managers will be informed of any revisions to the pay bands and the relative position of their colleagues within the relevant pay band prior to the annual pay review process.

• It is also worth noting that pay bands are also impacted by the overall size of the Society e.g. if our sales significantly reduced for a prolonged period we would need to start to compare ourselves to other smaller businesses to ensure we get a like for like comparison.  The reverse if also true.  Using a global grading framework enables us to ensure that wherever possible we are comparing ourselves appropriately and getting value for our members.

Click here to access the updated Pay Policy

 

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