The file's text, extracted by GovTribe without its formatting.
4.4 Technical Requirements
The Contractor is required to complete the Technical Requirements Matrix below. If additional space is required for attachments, etc., that information is to be provided in the appropriate space in the matrix (ie. see Attachment I etc) and the attachment is to refer to section in the matrix to which it applies.
Requirements/Specifications will be identified by a code designating its level of importance. Priority Codes are as follows:
M=Mandatory I=Information HD=Highly Desired D=Desired
/C=contractor must confirm agreement to this requirement /E=contractor must explain how their solution meets this requirement
Failure to complete the Requirements Matrix will result in disqualification of the Contractor’s proposal.
Item
DESCRIPTION
| Evaluation Criteria |
| PRIORITY |
| RESPONDENT COMMENTS |
Provide a 1-2 pages executive summary describing how your firm plans to provide the services set forth in this RFP to the Compensation Committee, including a full listing of services provided by your firm and the structure of the team you would propose to deliver these services including back up support.
Provide a clear description of the key competencies of your firm and the services your firm offers focusing on compensation and compensation related services..
| 4.4.3 |
| Technical Resources: |
Provide detailed information regarding your technical resources, including database depth within the higher educational sector and across general public/private industries.
If your firm does not maintain its own compensation database, please explain how you will acquire the necessary data to support the the work to be done for the Committee.
| 4.4.4 |
| Applicable consulting experience & background: |
Describe, in detail, your firm’s relevant higher education experience in the compensation area and the lead consultant’s prior experience in managing comparably sized compensation engagements for similar institutions.
Include a minimum of 3 examples of experience working with complex R1 higher education institutions.
| 4.4.5 |
| Thought Leadership: |
Provide a description of thought leadership provided by your firm and/or lead consultant that have influenced and shaped trends in higher educational institutions in the area of compensation.
| 4.4.6 |
| Overall Philosophy: |
Identify the three biggest issues facing compensation committees with regard to compensation structuring and how your firm can help them face these challenges.
Identify best practices being used by leading compensation committees to monitor the effectiveness of reward/incentive programs.
Describe your firm’s philosophy in advising committees regarding prioritization of market data vs. internal considerations.
| 4.4.7 |
| Provide the following references and Sample Work Product: |
Provide three (3) references for the lead consultant from clients for whom he/she/they has provided compensation services in the last year, including contact information. References and the work performed must be of a comparable size and scope to that of the University System of Maryland.
Provide a list of your current key clients within higher education.
| 4.4.8 |
| Provide the following items in regard to Service Detail: |
Biographical information on all consultants who will be engaged in the work with USM, including contact information, project roles and office location
A sample of the consulting contract your firm utilizes for engagements similar to the work covered by this RFP, including confidentiality terms (or other key terms in the consultant contract)
| 4.4.9 |
| Provide the following items in regard to independence: |
Full disclosure of the business and/or personal relationships your firm and/or individual consultants have with USM, its associated institutions, and any of its officers or directors. Include services provided to other companies or boards on which any USM’s officers or directors serve as an officer or director
Description of policies and procedures your firm has in place to prevent conflicts of interest (if applicable)
Description of any other actual or potential conflict of interest with USM or any of its associated institutions, officers, directors or other affiliates
Disclosure of what percentage of your firm’s revenue is derived from compensation consulting and related services Comment by Kimberly C Watson: Why is a % of revenue being asked for? Why would we not simply ask for the percentage breakdown of work performed in the service areas they offer? As some service areas may be charged out at higher rates such that while they perform fewer services in that area it represents a higher percentage of their revenue.
| 4.4.10 |
| Explain your experience conducting compensation studies for higher education institutions. |
| 4.4.11 |
| The new system must create pay equity for each position, as accurately as possible. The new system must be easy to administer. Describe how your firm proposes to accomplish both pay equity across positions and ease of administration. Identify the features of your approach/systems methodology that lends itself to accomplishing these elements in a final deployment. |
| 1 |
| M/E |
| 4.4.12 |
| Describe your firm’s approach regarding geographical location as a basis for establishing compensation for the same jobs at different institutions (i.e., different compensation schedules due to variable market conditions across different geographical areas) As part of your response and based on the information you currently have, describe how this would be considered for the USM. |
| 1 |
| M/E |
| 4.4.13 |
| Describe how you propose to establish market-based pay schedules including the key criteria in establishing such pay schedules. |
| 4.4.14 |
| The current system has ranges with minimums, mid-points, and maximums. If an employee starts at the minimum and receives limited merit increases, they may never get caught up to the maximum or even to the midpoint. Describe the approach your firm would take to solve this problem. |
| 4.4.15 |
| Identify and describe the technical tools that can be created to keep USM’s system competitive with similar systems. |
| 4.4.16 |
| Provide a description of the central data source your firm envisions for all USM institutions to use. As part of your response, identify the solution/repository your firm recommends to accomplish this. |
| 1 |
| M/E |
| 4.4.17 |
| In a system with institutions of varying budgets (some with larger budgets than others), describe the type of compensation system you propose to design that would address the needs of each institution while providing flexibility for each institution. |
| 4.4.18 |
| As your firm contemplates developing a new compensation structure for USM, identify the key data sets and information your firm will require access to as part of the assessment and development process for the new system. |
Identify how your firm will address gaps in typical data required for an engagement of this nature.
Include in your response the USM resources you will need access to and estimated number of hours for each USM resource identified.
| 4.4.19 |
| Given the information shared in this RFP, identify what you would propose as the pillars of a new compensation structure for USM. |