How we decide how much to pay our staff
CFG is an accredited Living Wage employer, and we are committed to paying our staff fairly.
Being an accredited Living Wage Employer means that every member of staff in our organisation earns at least the Living Wage. The London Living Wage is an hourly rate set independently and updated annually, based on the cost of living in London.
CFG is committed to ensuring that we pay our staff fairly and in a way which ensures we attract and retain the right skills to have the greatest impact in delivering our charitable objectives.
In accordance with the Statement of Recommended Practice (SORP):
- CFG discloses all payments to trustees (no trustees receive ‘pay’)
- Disclose the number of staff in receipt of more that £60,000 and above (in bands of £10,000)
- Disclose pensions and other benefits
CFG has a remuneration committee, which meets annually, is comprised of the CFG Chair, Vice-Chair, Treasurer and one other (who shall be appointed by the Chair), which sets the pay for all staff. The CEO is in attendance for the meeting (leaving for the discussion regarding the CEO’s remuneration) and no members of the executive are members of the committee.
The main responsibilities of the Committee are to:-
- Review the CFG salary banding against an agreed independent market benchmarking tool (currently CCH Charity Salary survey) and make sure amendments as are appropriate to ensure that CFG salaries remain competitive
- Determine the remuneration package of the Chief Executive
- Approve the annual percentage increase in the payroll for all staff (which can be zero) taking into account RPI as at 31 December for the previous year.
- Approve any consolidated pay awards and staff salary increases outside of the annual review process as recommended from time to time by the Chief Executive.
- Approve any non-consolidated pay awards (bonus) as recommended by the Chief Executive
- Determine pension arrangements and ensure that contractual terms on termination are fair to the individual and the charity, that poor performance is not rewarded and a duty to mitigate loss is recognised.
In determining CFG’s remuneration policy, the remuneration committee takes into account all factors which are deemed necessary. The objective of the policy is to ensure that the Chief Executive and staff team are provided with appropriate incentives to encourage enhanced performance and are, in a fair and responsible manner, rewarded for their individual contributions to the success of the Charity.
The appropriateness and relevance of the remuneration policy is reviewed annually, including reference to comparisons with other charities ensuring CFG remains sensitive to the broader issues e.g. pay and employment conditions elsewhere.
We aim to recruit, subject to experience, at the lower – medium point within a band, providing scope to be rewarded for excellence. We do not employ interns without pay and we aim to pay the living wage for all our staff.
Delivery of CFG’s charitable vision and purpose is primarily dependent on our staff, which is the largest single element of charitable expenditure. In 2014-15 CFG awarded staff a 1% cost of living uplift in salary. One member of staff earns more than £60,000 per annum (being remunerated £91,967).
Our Annual Reports outline our remuneration in more detail.