Senior Reward Solutions Specialist

Found in: beBee S ZA - 3 weeks ago

Western Cape Cape Town, South Africa Shoprite Group of Companies Full time
Shoprite Group of Companies’s job vacancy, Career and Recruitment

Job title : Senior Reward Solutions Specialist – Brackenfell jobs in Western Cape

Job Location : Western Cape, Cape Town

Deadline : March 29, 2024

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Purpose of the Job    

The Senior Reward Solutions Specialist is responsible for collaborating closely with the Group Rewards Solutions Lead to develop and implement comprehensive reward strategies, policies, and frameworks.This role assumes accountability for managing specific aspects of reward and benefits programs, conducting in-depth research, and providing expert guidance to stakeholders.Reporting directly to the Group Rewards Solutions Lead, the Senior Reward Solutions Specialist plays a critical role in shaping the organisation’s reward landscape and ensuring alignment with industry best practices. The role collaborates closely with stakeholders to drive innovation, efficiency, and excellence in reward management practices and providing design input to Long-Term Incentives (LTIs), Short-Term Incentives (STIs), Benefits and Reward Solutions Strategy Design.

Job Objectives    

Strategic Support:

Assist the Group Reward Solutions Lead in developing and implementing reward strategies, policies, and frameworks. Provide insights and recommendations on reward program design, including Short-Term Incentive (STI) structures and employee benefit packages. Apply and provide input to the Rewards Strategy, policies, procedures, and frameworks for the Shoprite Group. Review and update existing short and long-term incentives plans to ensure alignment with Shoprite Group objectives and design new incentive plans where required. Develop retention and scarce skill reward strategies for identified positions in collaboration with Talent Solutions. Develop different types of work models and related remuneration and benefits models in collaboration with Organisational Effectiveness. Grade jobs in accordance with Job Evaluation policy in collaboration with Reward and Organisational Effectiveness. Define mitigation plans to manage reward risks. Support the Payroll, Benefits, and Compensation execution teams as required.

Research and Analysis:

Conduct research and analysis on industry trends, benchmarking data, and regulatory requirements to inform decision-making. Stay abreast of emerging practices and developments in the field of reward management to drive innovation and continuous improvement.

Cross-Functional Collaboration:

Collaborate with cross-functional teams to ensure alignment and integration of reward programs with other  HR initiatives, such as talent management and organisational development. Foster strong partnerships with internal stakeholders and external partners to facilitate effective communication and collaboration on reward solutions initiatives.

Stakeholder Engagement and Training:

Engage with internal stakeholders and external partners to ensure effective communication and collaboration on reward solutions initiatives. Provide training and support to People Partner teams, managers, and employees on reward solutions-related matters, ensuring understanding and adoption of program features.

Market Adjustments and Promotions:

Review market data and trends to recommend adjustments to compensation and benefits packages to remain competitive and aligned with industry standards. Provide support in the promotion process, ensuring fairness, consistency, and alignment with organi sational policies and procedures.

Execution and Administration:

Execute and administer specific recognition and employee benefits programs, ensuring compliance with legal and regulatory requirements and alignment with organisational objectives. Oversee the implementation of reward and recognition initiatives, monitoring effectiveness and making recommendations for improvement.

Drafting of Communication Materials:

Prepare communication materials, ensuring clarity, accuracy, and alignment with program guidelines and objectives.

People Partner Support:

Collaborate with People Partners to address compensation and benefits-related inquiries, provide guidance on reward initiatives, and ensure alignment with People Practices and strategies.

Consultation and Specialist Support:

Act as a seasoned reward and recognition specialist, providing expert consultation and specialist support to internal stakeholders on various reward-related matters. Offer insights, analysis, and practical recommendations to address specific challenges and opportunities in the reward landscape.

Analysis and Reporting:

Monitor the reward team while ensuring service delivery to the Shoprite Group. Collect and use reward data and business intelligence to transform the delivery of rewards and solutions. Analyse data and prepare reports on program effectiveness, utilisation, and employee satisfaction, providing insights and recommendations for continuous improvement. Assist with the preparation of Remuneration Committee packs, ensuring accurate and comprehensive information for decision-making.

Compliance and Governance:

Ensure compliance with legal and regulatory requirements governing reward management programs, staying informed of changes and updates. Implement governance structures and processes to ensure transparency, fairness, and equity in reward management practices.

Qualifications    

Bachelor’s degree in Human Resources, Business Administration, Finance, Accounting, or related field -(essential). A Master’s degree – (advantageous)

Experience    

Professional certification with SARA – (preferred). +4 years of specialist level experience in reward management, compensation, or related fields – (essential). Proven track record of hands-on execution in designing, implementing, and administering comprehensive rewards, recognition, and benefits programs – (essential). Experience in stakeholder engagement, and process improvement – (desirable). Experience in a Retail / Wholesale / Financial Services industry – (preferred). 

Knowledge and Skills    

Strategic Thinking – Ability to think strategically and translate vision into actionable plans and initiatives. Analytical Skills – Strong analytical and problem-solving skills with the ability to analyse data and trends to inform decision-making. Attention to Detail – A meticulous approach to work, ensuring accuracy and precision in tasks, documentation, and analysis. Problem-Solving – The ability to identify challenges, analyse root causes, and develop creative solutions to address complex issues and obstacles. Adaptability – The ability to thrive in dynamic and changing environments, remaining flexible and openminded in response to shifting priorities, requirements, and circumstances. Change Management – Proven ability to influence and drive change initiatives effectively, fostering a culture of innovation and continuous improvement. Communication Skills – The ability to convey information clearly, concisely, and effectively to diverse audiences using verbal, written, and interpersonal communication channels. Stakeholder Engagement – Strong interpersonal skills with the ability to build and maintain effective relationships at all levels of the organisation. Collaboration – The ability to work effectively with diverse teams and stakeholders to achieve common goals and objectives. The ability to collaborate closely with internal and external stakeholders to ensure alignment and successful implementation of reward and recognition initiatives Ethical Conduct – Commitment to integrity, honesty, and transparency in all interactions and decisionmaking processes. Respect for diversity and inclusion, fostering an environment of equity, fairness, and respect. Continuous learning and development mindset, staying abreast of industry trends, best practices, and emerging technologies. Accountability and responsibility – Ownership of outcomes and results, taking responsibility for actions,decisions, and commitments

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