Keele statement of accounts 20/21 | Page 47

Statement of Accounts 2020 / 21

Notes to the Accounts For the year ended 31 July 2021

8 Staff costs ( continued )

In the previous financial year , the Senior Remuneration Committee determined that a policy of senior pay restraint should be adopted resulting in a decision that there would be no salary review for senior staff including the Vice-Chancellor during 2020-21 . The was no national pay award that was applied to all staff at the University , and so the Vice-Chancellor had no increase in pay .

During the year , the Committee conducted its business through virtual meetings in March and June 2021 . The membership of the Committee is :

Dates of meeting attended Name Position March 21 June 21 Mrs Sally Bucknall ( Chair ) Deputy Pro-Chancellor Yes Yes Mr Richard Callaway Deputy Pro-Chancellor Yes Yes Mr David Hall Treasurer Yes Yes Mrs Manali Lukha Lay member of Council Yes Yes Dame Jo Williams Pro-Chancellor Yes Apologies

The Vice-Chancellor may be in attendance at the Committee , except for an item where their remuneration is under consideration . The Vice- Chancellor attended the March meeting in the year .

Context in which Keele University operates

The University operates in the United Kingdom Higher Education sector , which is both competitive and complex . There is competition across the sector to recruit both UK and International students for undergraduate and postgraduate studies , alongside the desire of all institutions to attract and retain a high quality of academic and professional service staff . This obviously includes key management personnel , including the Vice-Chancellor . Alongside teaching , research is the other key strand of the sector , an area that encompasses varied specialisms , funding streams and requirements . As a result of the staff involved in teaching and research , universities are able to engage in innovation , business engagement and technology transfer , or collectively knowledge exchange .

Terms of the Vice-Chancellor ’ s Salary Review

In considering any pay increase , Senior Remuneration Committee takes into account the following :

1 The size and complexity of the role , relevant market comparators , pay ratio data and other metrics as appropriate and the need to protect the strategic interests of the University .

The Vice Chancellor ' s salary is benchmarked annually against the salary data for comparable roles and institutions set out within the latest available UCEA Remuneration Report , as a basis for ensuring broad based fairness and comparability . However it is not the intention that the salary is automatically adjusted to reflect a specific percentile point or range .

2 Performance in role

The Vice Chancellor ’ s performance is reviewed annually by the Chair of Council with due consideration of both long and short term objectives . Only in the case where the Vice Chancellor is deemed to have demonstrated significant achievement and exceptionality of performance in his / her role against key performance indicators and personal objectives will a salary review based on performance be considered .

3 Affordability – the University ’ s financial position – current and longer terms .

Any increase considered against 1 ) and 2 ) above is balanced against available and projected long term funding , expenditure priorities , discretionary pay expenditure , and pay as a percentage of income in the short to medium term

4 National Pay Restraint and any associated Public and Employee Relations issues

Any recommended increase is considered within the context of the relevant pay climate . The Vice Chancellor ' s remuneration package is published annually within the annual statutory accounts which are available on the University ’ s website and the University must be able to properly explain any enhancements based on the strategic interests of the institution .

Vice-Chancellor Pay Review 2020 / 21

In line with the University ' s policy of senior pay restraint during 2020 / 21 as a measure to mitigate against the adverse impact of Covid-19 , the Vice- Chancellor was not afforded the opportunity for his pay to be increased following performance review . However , the Vice-Chancellor ' s performance was assessed against key performance indicators and performance objectives and on this basis , Senior Remuneration Committee is content that

his current level of remuneration is justified .

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