Korn Ferry support 2024-25 - audit and assurance of the LTIP, STIP and PCH bonus

Concepts

• warrington
• feasibility study
• pch bonus
• assurance
• pch
• an independent audit
• 2024
• audit
• bonus
• korn

Location

Warrington

Description

An independent audit and assurance of the outcomes of our incentive schemes within NRS Sites and NRS Dounreay.

Total Quantity or Scope

Carry out an independent audit and assurance of the outcomes of our incentive schemes within NRS Sites and NRS Dounreay. It includes an audit and assurance of the LTIP, STIP and PCH bonus and incentive targets and the final outcomes including reviewing the evidence files associated with the achievement of the targets and the final payment against those targets. Work to be completed is: - - Review of initial findings, context and discussions with HR / Rem Co process and outcomes - Review of evidence - measure by measure (with follow ups for clarification) - Interim draft / reviews with Chief People Officer on status and gaps - Production of paper for Rem Co with recommendations on bonus out-turn - Presentation at Rem Co and completion of work by end of June

Award Detail

Award Criteria

CPV Codes

• 71241000 - Feasibility study, advisory service, analysis

Indicators

• Award on basis of price.

Legal Justification

Korn Ferry have provided this independent assurance and audit previously so REMCO are satisfied that the details will be at the appropriate level which will give them confidence to make a decision. Korn Ferry have a detailed knowledge of our incentive scheme arrangements and therefore will reduce the time and cost by using them as there is not a requirement to spend time bringing them up to speed. They have the skill in this area and have worked with the NDA on a number of wider projects. NDA Reward team are looking at the arrangements going forward, and this may result in a change of approach.