Group Remuneration Specialist

2 weeks ago

Durban, KwaZulu-Natal, South Africa Aspen Pharma Group Full time
Job title : Group Remuneration Specialist (Durban North)Job Location : KwaZulu-Natal, DurbanDeadline : April 04, 2025Quick Recommended Links
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Description

  • Reporting to the Group Head: Strategic Oversight the incumbent will be responsible to support and administer the Aspen's remuneration strategy, processes, policies and practices. 

Key Responsibilities:

Strategy support and deployment: 

  • Be a trusted advisor to the Group Head: Strategic Oversight and Human Capital functional areas and key stakeholders on matters that relate to employee remuneration.
  • Evaluate and recommend changes to increase the effectiveness, alignment and competitive positioning of the Group's compensation practices, including base salary and annual incentive programs.

Benchmarking: 

  • Working with the Aspen Shared Services Business Unit, analyse remuneration across Aspen group and report on findings including external competitiveness.
  • Manage the completion of market survey submissions and data analysis.
  • Monitor fair and equitable pay across the Aspen Group.

Job Grading: 

  • Coordinate and oversee job grading processes, as and when required
  • Administration and management of grading committees.
  • Evaluate positions to ensure a consistent single grading system across the Aspen Group.
  • Administer and manage the Aspen Group's employee remuneration and grading system. 
  • Prepare and define job levels and families and standardisation of job profiling across the Aspen Group.

Policy and Compliance:

  • Support Remuneration policy updating and maintenance to ensure current remuneration practice is recorded.
  • Manage and report compliance to the Remuneration Policy and provide input and corrective measures as may be required.

Remuneration:

  • Compile remuneration proposals for job offers taking the Remuneration Policy into account.
  • Propose annual pay scales for all key business units across Aspen Group.
  • Participate and support in the management of annual increases, out of cycle increases and bonus payment cycle.
  • Participate and support in provision of all requisite information for the remuneration components of the annual report, and any other legislative reporting requirements.

Incentive programs:

  • Manage the administration of the Aspen Group's share program, including the updating and review of the external portal used for managing shares.
  • Drafting of annual updates to employees on the Aspen Group incentive program
  • Drafting of updates to the share scheme rules, as required.
  • Based on market analysis, draft and propose new changes to the incentive scheme.
  • Enhance and update (as required) and co-ordinate the measurement of the business unit performance within the Group, and overall calculation of incentive bonus payable on an annual basis.

Reporting and data management:

  • Interpret remuneration data received from the Aspen Shared Services Business Unit and compile remuneration statistical reports.
  • Facilitate research information and report to line manager for submission to Remuneration and Nomination Committee (RemCo) as required.

Administration:

  • Assist employees regarding remuneration or share scheme queries.
  • Ensure OneAspenOnline remains up to date with the latest approved documentation, including incentive bonus guidelines.

Requirements

Educational Qualifications & Experience:

Education:

  • Relevant diploma or degree
  • Registered member of the South African Rewards Association or equivalent relevant body

Experience:

  • Minimum of 5 years in a reward / compensation and benefits environment
  • Meaningful experience dealing with complex organisational structures in multiple territories
  • Global exposure to different compensation and benefits remuneration structures and statutory legislative requirements across various geographies
  • Global / International remuneration experience preferred

Technical competencies & skills:

Skills and attributes

  • Strong attention to detail
  • Ability to multitask and prioritise projects
  • Comprehend, interpret and apply policies with accuracy and clarity
  • Forward thinking
  • Develop remuneration models utilising Power BI or an equivalent automated remuneration tool/system
  • Effective planning, organising and co-ordinating
  • Highly numerate with strong analytical capabilities
  • Results driven
  • Effective problem solving and decision making
  • Independent and self directed individual that can drive execution;
  • Effective interpersonal skills;
  • The ability to communicate effectively (written and verbal) is essential;

Knowledge

  • South African Basic Conditions of Employment Act and other local and international labour legislation;
  • Sound Business understanding
  • Pharmaceutical industry knowledge
  • HC policy writing
  • Remuneration structuring, extrinsic and intrinsic reward principles;
  • Performance management experience at company, business unit and individual levels, at a multinational company
  • Financial analysis and modelling;
  • Incentive design;
  • Job grading and profiling
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