Fair Market Value

Guidelines for Remuneration Within Market Research 

October 2022

BHBIA members are encouraged to use this guide to reduce problematic pressures on respondent remuneration based on ‘fair market values’, known as FMVs, during the primary market research process. 

The guide is designed to help our members remunerate those that participate in healthcare market research fairly, protect the quality of the sample and the quality of the data produced, whilst working within the necessary industry regulations and company requirements.

It includes an introductory section, explaining the concept of FMV and background to the issues, and is then split into three sections. Each section provides guidance to help with the main issues reported by the BHBIA membership and contains information that will help you to understand, highlight and check all the factors that can impact FMVs and alert you to the situations where some flexibility may be required. The sections are:

  1. Respondent characteristic framework - addresses which respondent characteristics and attributes can influence the level of remuneration reasonably required
  2. Fieldwork commissioning checklist - provides a prompt to bring to light factors that might impact the recruitment process, or recommended remuneration
  3. Support for commissioning executives - sets out some arguments to help commissioning executives to support their internal case for higher FMVs

Download the guidelines document:

Representatives of the Ethics & Compliance Committee and Fieldwork Forum hosted a webinar on Friday 4th November 2022 to introduce the guidelines. Full BHBIA members can watch the recording here. The slides are also available to download in pdf format, along with the Q&A from the event.