Senior Reward Specialist
Summary:
The Senior Reward Specialist role will work closely with the Compensation & Benefits Manager to enable the organizational culture change by delivering the Reward agenda in all compensation-related matters. The job holder requires extensive experience in market data and compensation practices. This role will support the Compensation & Benefits Manager in the design of compensation models & data analysis as needed to support culture change. The Senior Reward Specialist will work alongside the HRBP team to understand the needs and challenges of each department and will support the development and implementation of solid reward practices to ensure the achievement of organizational priorities.
Duties and responsibilities:
- Lead to the annual refresh of market-related salary ranges and job families.
- Draw from different data sources to ensure ranges are market-related and relevant to the job roles at the company
- Gather market-related insight on all pay elements and build pay models as required to support robust benchmarking on all aspects
- Support Compensation & Benefits Manager by providing ongoing insight & guidance on pay issues facing the organization and leading on data & analysis to ensure internal and external equity
- Handle all pay-related analyses including, but not limited to, spending on the annual pay budget throughout each year, cost analysis on pay & allowance elements, supporting with preparation for the annual pay review budget, data analysis on salary placement against range by role/band/department by using various relevant data sources
- Support designing and delivering pay models to embed the Reward Review across the organization
- Develop adaptable pay models and support by introducing performance moderation sessions throughout the organization, creating supporting data models where needed
- Support the Compensation & Benefits Manager in the design of compensation models & data analysis as needed to support culture change
- Support the management of the Company’s job evaluation process and factor plan by participating in job evaluation and discussions, consistently checking roles throughout the Company, and contributing to developing processes and data to enhance understanding
- Collaborate to develop and implement policies, procedures and initiatives relating to all of the Compensation & Benefits agenda
Skills and experience:
- At least 3+ years relevant experience
- A university degree
- In-depth knowledge of compensation principles, methodologies, and best practice.
- Should have working knowledge of KPIs and bonus models
- Advanced Excel skills essential and competent in the use of information systems highly desirable.
- Proven track record of working to tight deadlines, efficiency in multiple priorities delivery of a professional approach to HR.
Key Competencies:
- Specialist knowledge – expertise in compensation and data analysis. Continually maintains technical knowledge.
- Strategic thinking – Looks for opportunities to add value, with the ability to detect and manage risk. Demonstrates a holistic view of issues, events and activities, with a perception of their longer term impact or wider implications.
- Planning, action orientation & results driven – Organizes and prioritizes work, with a clear readiness to make decisions, take the initiative and focus on delivery.
- Influencing & engagement – Ability to influence & motivate others in order to reach organizational goals.
- Personal motivation - Commits self to work hard towards goals. Shows enthusiasm and career commitment.
- Leadership and Communication – Lead and act as a role model as part of Compensation & Benefits team. Communicating and engaging with individuals and teams as needed to ensure they have clear direction and know what they have to achieve to be successful.