The Vendor is required to provide a salary market data analysis solution 13 to support compensation market analysis, forecasting, planning, and reporting needs to 14 help maintain a competitive compensation structure for the university.
- Market data services to significantly enhance the current market analysis and forecasting capabilities, and to improve the integration of market data with recruitment and compensation management processes.
- The market data software and services offered must be able to provide the following functionality:
• Ability to import salary survey data from multiple survey sources
• Ability to import employee data to tool for analysis compared to market
• Export salary data and job matches in survey formats for submission to each vendor
• Automates survey participation including due dates, new or revised survey job codes and descriptions, data submission formats, and links to survey publisher websites.
• Build survey submissions by replicating previous year’s matches, adding new positions, and generating data submission worksheets.
• Ability to match multiple survey jobs to one university job to create a composite
• Ability to age, adjust, blend, apply premium or discount, and weight data, by individual job
• Search capabilities to find survey matches by using keyword search (titles, text in the survey job descriptions, etc.)
• Ability to perform regression modeling of job points to market data
• Ability to add salary survey matches as well as existing internal jobs to provide leveling of similar jobs for career progression
• Ability to analyze the competitiveness of pay for any job with respect to external market data, internal job evaluation/structure, and/or peer jobs
• Ability to create reports and download to spreadsheets
• Delivered with a robust library of canned reports based on best practice
• Ability to create graphs and analytics
• Ability to build customized reports for analysis; including but not limited to select what data fields to include and in what order they appear on report.
• Ability to analyze and create proposed compensation structures
• Ability to create models to determine salary increases based on performance rating score, compa-ratio and other similar factors
• Ability to cost salary increase models
• Ability to assess internal equity as well as any potential disparate pay practices
• Ability to use internal job evaluation systems (example: classification) in combination with market data to arrive at job hierarchy
• Ability to search for active and inactive jobs
• Ability to create and manage multiple user roles with different viewing/editing access.
- Contract Period/Term: 1 year
- Questions/Inquires Deadline: June 17, 2025