Description
The Bank of North Dakota seeks to acquire a configurable Compensation Administration Platform designed for community banks. The platform must provide salary‑survey and benchmarking data, support job‑architecture creation and maintenance, deliver compensation analytics and reporting, incorporate a point‑factoring methodology for internal equity, enable annual salary‑structure reviews, and include budgeting and FTE‑management tools for workforce planning. The purchase is intended as a non‑competitive, single‑source award to Balanced Comp, with a total contract value of $60,000 covering a one‑year subscription and up to four optional one‑year renewals. Vendors may still submit alternative proposals for equivalent services.
• Deliver a fully configured, SaaS‑based compensation management system with banking‑specific market data.
• Provide implementation services, training, and ongoing support for the platform.
• Include tools for job architecture, point‑factoring, compensation reporting, and workforce budgeting.