Head of Rewards

7 days ago

Sandton, South Africa Blue Label Telecoms Full time

**JOB PURPOSE**

The Head of Rewards is responsible for developing, implementing, and managing comprehensive reward strategies that align with the company's objectives, attract top talent, and retain valuable employees.

The Head of Rewards plays a crucial role in shaping the organization's approach to attracting, motivating, and retaining top talent through strategic compensation and benefits management. This position is responsible for developing and implementing comprehensive reward strategies that align with the company's objectives and values while ensuring competitiveness in the market.
- Strategic Alignment: Develop and maintain a reward philosophy and strategy that supports the company's business goals and culture
- Competitive Positioning: Ensure the organization's compensation and benefits packages are competitive within the industry to attract and retain top talent
- Performance Driven Culture: Implement reward systems that drive high performance and desired behaviors across the organization
- Cost Management: Optimize the company's investment in employee rewards while maximizing impact and value
- Compliance and Governance: Ensure all reward programs adhere to legal requirements, corporate governance standards, and industry best practices
- Employee Satisfaction: Create reward programs that enhance employee engagement and satisfaction, contributing to a positive workplace culture
- Data-Driven Decision Making: Utilize analytics and market insights to inform reward strategies and demonstrate ROI of reward programs
- Effective Communication: Ensure clear understanding of the company's reward offerings among employees and stakeholders

**RESPONSIBILITIES**

**Reward Philosophy**
- Develop and articulate a clear reward philosophy that aligns with the company's values, culture, and business strategy
- Ensure the reward philosophy supports the attraction, motivation, and retention of top talent
- Regularly review and update the philosophy to reflect changes in the business environment and market practices

**Client-Centric Reward Strategy**
- Design and implement an overall reward strategy aligned with business goals
- Develop and manage non-financial recognition programs to complement monetary rewards
- Regularly review and update the strategy to ensure competitiveness and effectiveness
- Develop and implement a reward strategy that puts employees (internal clients) at the center
- Regularly gather feedback from employees to understand their needs and preferences
- Tailor reward offerings to meet diverse employee demographics and life stages

**Policies and Processes**

***Develop, implement, and maintain reward-related policies, including:

- Compensation policy
- Benefits policy
- Promotion and salary adjustment policy
- Expatriate compensation policy

Establish clear processes for:

- Annual salary reviews
- Bonus calculations and distributions
- Job evaluations and grading
- Market pricing and benchmarking
- Ensure all policies and processes comply with legal requirements and best practices

**Frameworks**

Design and implement robust frameworks for:

- Total rewards structure
- Job evaluation and grading
- Performance management linkage to rewards
- Talent management and succession planning integration with rewards
- Develop a competency framework that aligns with the reward structure
- Create a framework for assessing the effectiveness and ROI of reward programs

**Annual Plan**
- Develop a comprehensive annual rewards plan, including:

- Budget forecasting for salaries, bonuses, and benefits
- Timeline for key activities (e.g., salary reviews, bonus payouts)
- Objectives and key performance indicators (KPIs) for the rewards function
- Present the annual plan to senior leadership and the Remuneration Committee for approval

**Benchmarking and Grading Market Analysis**
- Conduct regular market salary surveys and benchmarking exercises
- Develop and maintain job grading structures
- Ensure internal equity and external competitiveness in compensation
- Analyze industry trends and best practices in reward management
- Provide insights on market competitiveness and recommend adjustments to reward strategies

**Financial Incentives and Recognition**
- Assist in the Design and implementation and administration of a comprehensive financial incentives program, including:

- Short-term incentives (STI)
- Long-term incentives (LTI) for key employees and executives
- Sales incentive plans
- Partner with business to ensure the cascading and quality of performance metrics and targets for the various schemes, ensuring alignment between individual, team, and company performance
- Develop and manage non-financial recognition programs to complement monetary rewards
- Ensure a balance between fixed and variable pay components
- Implement performance-based reward systems that drive desired behaviors and outcomes

**Retention Strategy**
- Develop and implement strategies to retain key talent
- Analyze turnover tren

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