Salary Market Data Analysis Solution

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 helps maintain a competitive compensation structure for the university.
- Market data services to significantly enhance the current market analysis 20 and forecasting capabilities, and to improve the integration of market data with 21 recruitment and compensation management processes.
• Application hosting
• System and integration testing
o Interface development (if necessary)
o Transfer of knowledge for importing survey and employee data for comparison purposes
• Deployment support
• Security
• Reporting
• Go live and post go live support
• End user training and change management support
• Upgrade support considerations
• Ongoing maintenance
• Production support, including service desk
• Disaster recovery and business continuity planning
- Functional requirements:
• 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 match 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
• 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 or structure, and 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 selected 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 and editing access. 
• A minimum of 20 users shall be provided at no cost. please provide a pricing list should additional users need to be added
• Integration requirements: the proposal should include recommended methodology importing data for comparison purposes.
o Import data from various market data salary survey sources for comparison purposes
o Update employee salary data in tool via scheduled import from workday
o Export survey submissions to various salary survey vendors
• Salary survey data purchase is not required as a part of the tool and tool functionality is not impeded without use of vendor proprietary surveys.
• Provide a user community to freely post and share questions, ideas, experiences related to compensation and job categorization; as well as system functionality.
• Provide ability to compare jobs with those of peer organizations in real time based on geographic region, number of FTE, sales and income level, and industry.
• Ability to maintain routinely refreshed data shall be a self-service option.
• Provide a repository to build, store, and manage job descriptions. job description templates should be provided as well as ability to add internal job responsibilities.
• Ability to download and share job descriptions in word and pdf file formats.
• Complementary job pricing for difficult or specialized jobs. one request per month or total of twelve request a year. • Proposal should also include documentation of how any data university provides to a hosted solution will be used, secured, and retained.
• System should be available 99.9% of the time.
• Ability to provide up to date user guide on system's functionality and availability of up-to-date resource and training materials at any requested time.
• Ability to provide one-on-one or team training related to specific system's functionality.
- Contract Period/Term: 1 year