Compensation Manager
1 week ago
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RESPONSIBILITIES AND ACCOUNTABILITIES (KEY PERFORMANCE AREAS & TASKS)
Developing Compensation Programs
- Design and implement competitive compensation programs.
- Socialise the workforce with the critical aspects of the compensation programmes. Ensure alignment across the business on the key principles of the compensation elements.
- Ensure payroll systems and Human Resource business partners are aligned in terms of the remuneration and compensation policies.
- Be knowledgeable in Salary structuring and have insight into different pay policies and incentive plans.
- Have a broad knowledge of long- term and short-term incentive arrangements.
- Ensure compliance with third party SLA's.
Market Analysis
- Conducting regular salary surveys and market analysis to ensure compensation remains competitive with industry standards.
- Participate in job audits and recommend market best practice measures to the business.
- Oversee the employee grading platform and market data platforms and conduct role grading, as and when needed by the business.
- Ensure that a position to market analysis is conducted annually and is aligned the annual salary increase process.
- Recommend increase allocation models based on annual market benchmarks.
Compliance
- Ensure compliance with local legislation concerning compensation. benefits.
Budget Management
- Assist in the preparation and manage the budget for compensation activities.
- Employee Communication:
- Communicate compensation information to employees, ensuring transparency and understanding.
- Educate HR business partners on all new compensation offerings and participate in the role out and implementation of all new initiatives as and when necessary.
Vendor Management
- Negotiate with vendors and administrators to secure the best plans, options, and rates for compensation programmes.
Performance Management
- Work with HR business partners and management to align compensation with performance management systems.
Training and Development
- Provide training and support to HR staff and managers on compensation, grading and benchmarking policies and practices.
Strategic Planning
- Assist in the collaboration with senior management to develop and implement strategic compensation plans that support organizational retention goals.
Competencies and Minimum Requirements:
Qualifications
- Bachelor's degree in human resources, Business Administration, or a related field. SARA certification preferred.
- Strong MS office skills.
Experience
- Several years of experience in compensation administration and management, HR, or a related field.
- In-depth knowledge of HR practices and compensation models. Must be able to work across functions.
- Experience in managing projects and initiatives related to compensation.
- Familiarity with local regulations related to compensation.
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