Head: Remuneration and Shares Services

7 days ago

Parktown, South Africa Rand Mutual Assurance Full time

**THE JOB AT A GLANCE**

As the Head: Remuneration and Shares Services will be responsible for the end-to-end management and maintenance of RMA’s rewards and remuneration practices, programmes, and policies. You will be responsible for providing advice and consulting services to the business on all Total Rewards and Remuneration related issues You will also be responsible for planning, developing, and implementing new and revised Total Rewards programs, as well as policies and procedures in line with the organisation’s retention and attraction objectives and legislative requirements.

**WHAT WILL YOU DO?**

**Management of the Remuneration Strategy and Processes**
- Design (as and when necessary) RMA’s Remuneration Policy and Philosophy as well as other related remuneration policies
- Develop remuneration practices and review recognition policies, programmes and schemes (all facets that relate to rewards and rem)
- Develop an appropriate remuneration strategy and identify areas of improvement (i.e. remuneration practices)
- Implement, develop and manage RMA’s remuneration process and provide advice and guidance as required in terms of remuneration packages
- Participate in the annual remuneration process including assisting in the review of the annual salary structure, the calculation of bonuses, preparation of letters and bonus documents
- Run salary benchmarking reports both internally and externally to ensure competitive market rates and organisational relativity for guaranteed pay and variable pay to continuously ensure that rewards are benchmarked and to inform salary related decisions such as annual increases.
- Contribute towards the determination of the annual increases prior to the annual salary reviews.
- Manage and implement salary increases and incentive payments
- Develop and continuously review the annual salary scales and ensure compliance with changing legislation and regulations
- Determine remuneration packages for new employees in line with the Appointments and Promotions Policy
- Manage and ensure the execution of annual salary surveys; continuously maintain the salary survey to ensure updated salary related information
- Manage RMA’s headcount salary budget by meeting with Exco members to assist with their budgeting process
- Manage the department’s budget
- Prepare world class RemCo packs for Remuneration Committee meetings, accompany the HR Executive to RemCo meetings and actively participate in meetings.

**Development and Management, Implementation and Maintenance of the Total Rewards Program**
- Assist in design of a Total Rewards strategy, policy and program to achieve employee attraction, motivation and retention objectives.
- Review the effectiveness of existing Short-Term Incentive Schemes including but not limited to bonus calculations, commission scales as well as the Contact Centre Agent Scheme and provide recommendations for improvement.
- Continuously benchmark and research other Short-Term Incentive Schemes and propose applicability and relevance to the RMA environment.
- Review the effectiveness of existing Long-Term Incentive Schemes including but not limited to the implemented Phantom Scheme and provide recommendations for improvement.
- Continuously benchmark and research other Long-Term Incentive Schemes and propose applicability and relevance to the RMA environment.
- Develop policies for both Short-Term and Long-Term Incentive Schemes and communicate to the business.
- Research, develop, implement and maintain recognition schemes to motivate and retain RMA employees.
- Support and coordinate employee wellness initiatives.
- Participate in RMA’s reward processes from planning to execution and carry out all activities in cooperation with relevant stakeholders ensuring highest standard of delivery and customer satisfaction.
- Develop instructions, training materials and manuals on RMA’s Total Rewards Program and communicate accordingly.
- Develop and maintain an Employee Value Proposition for RMA.
- Review existing benefits including but not limited to medical aid and pension funds for relevancy and competitiveness.
- Continuously research and benchmark primary and secondary benefits in order to improve RMA’s service offering and Employee Value Proposition.

**Job Evaluation and Grading**
- Ensure adherence to the organisation’s Job Grading and Job Evaluation policy and procedure by enforcing same
- Set up and manage the Job Grading and Job Evaluation Committee
- Manage Job Grading and Job Evaluation execution and post evaluation
- Continuously maintain Job Grades

**Effective Communication and Monitoring of Total Rewards related activities**
- Develop and implement effective communication plans around RMA’s Total Rewards Program.
- Coordinate all benefits communications sessions.
- Execute and manage Remuneration and Benefits Surveys.
- Track the implementation of the Total Rewards Strategy.
- Report monthly on total rewards related updates.

**

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