case studies

Preston Moneyline

Pay Policy at Preston Moneyline

Retaining key personnel in the highly competitive financial services sector is a central issue for any Community Finance organisation.  Preston Moneyline recognise this issue, not only do they need to maintain the morale of existing staff they also need to be able to attract high quality staff in the future.

Consequently they recently asked Chris Munnery, an Associate of Employer Solutions, to investigate levels of remuneration both in terms of internal relativities and in the context of the wider marketplace.  Preston Moneyline wanted urgent answers and set a deadline of two months.

Such a task is complex.  For example, when relating the levels of remuneration to other comparable organisations, it is important to take into account the variations in job specification that can occur under similar job titles.  Also highly relevant is the nature of funding in a community finance organisation and its objectives as a provider of services in the not-for-profit sector.  Finally, for a responsible employer and in the eye of the community, the law, and particularly equality and diversity, is crucial.

Choosing Chris was a wise move.  Chris has in depth Human Resources experience in both the community sector and the finance sector, not to mention sound expertise in HAY job evaluation.  He was an ideal person and Preston Moneyline received a complete analysis and report on schedule.

When the board met, and considered the report of Employer Solutions, it was agreed unanimously to adopt it in its entirety.  “ We all felt that the work undertaken by Chris Munnery was very solid and had good substance to it – we would have no hesitation in recommending your services to others” explained Peter Rooney, Relationship Manager at Barclays Bank plc and Preston Moneyline Board Member.