Group Rewards Specialist

The Group Rewards Specialist will play a crucial role in defining the reward philosophy and maturing the reward practices, ensuring that the company can attract and retain top talent, and reward high performance.

This role will conduct thorough research and identify reward and benefit trends to provide insights and recommendations for effective management of employee remuneration and benefits. The successful incumbent will report directly to the Group Chief HR Officer.

Responsibilities:

1. Develop Compensation Strategies: Design and execute comprehensive compensation strategies tailored to attract and retain top talent while aligning with the organization's goals and budgetary constraints.
2. Pay Scales: Establish and maintain pay scales to ensure internal and external equity. Ensure that job offers and increases are aligned to pay scales and remuneration policies.
3. Incentive Schemes: Provide input into the design of short and long-term incentive schemes. Prepare bonus schedules aligned to performance scores and incentive scheme rules.
4. Conduct Market Analysis: Participate in annual salary surveys and extract insights informing remuneration policy and practices, and compensation decisions, ensuring competitiveness and relevance. Identify and escalate remuneration gaps and risks.
5. Benefits: Oversee the design, implementation, and administration of employee benefits programs, including health insurance and retirement plans, in collaboration with relevant stakeholders. Keep abreast of best practices in this field and continuously review current benefits. Facilitate Provident Fund Committee meetings. Collaborate with external vendors, consultants, and benefit providers to optimize rewards programs, negotiate contracts, and ensure service delivery excellence.
6. Employee Guidance: Provide expert guidance and support to managers and employees on compensation and benefits-related matters, including policy interpretation and benefits enrolment.
7. Legislative Compliance: Stay abreast of relevant legislation and regulatory changes affecting compensation and benefits practices, ensuring compliance with applicable laws and regulations.
8. Data Analysis and Reporting: Utilize HRIS and compensation software to analyze data, generate reports, and derive actionable insights to inform decision-making and drive continuous improvement in rewards programs. Develop, maintain and run standard reports by monitoring, testing and auditing all HR data to ensure reward and benefits data is aligned to the reporting standards of the organization.
9. Process Improvement: Identify opportunities for process optimization and automation to streamline compensation and benefits administration processes, enhance efficiency, and improve the employee experience.
10. Documentation and Communication: Maintain accurate documentation of compensation and benefits policies, procedures, and guidelines, and communicate updates and changes effectively to relevant stakeholders. Manage compliance with relevant policies.
11. Remuneration Committee: Review remuneration proposals for job offers and internal salary reviews. Prepare for Quarterly Remco meetings and maintain all documentation for such meetings.
12. Benchmarking: Execute annually the job matching exercise for the external remuneration surveys by compiling and submitting data for submission to RemChannel. Provide pay comparisons using external benchmark data as well as internal reviews to inform recruitment, salary reviews, counter offers and other pay-related processes.
13. Job Grading: Facilitate the Job Grading process and ensure alignment of remuneration and benefits to grades.

Requirements:

1. Relevant diploma or degree.
2. Minimum of 5 years experience within a reward and benefits specialist function.
3. Knowledge of HR and payroll systems.
4. Sound Retirement Funds and Medical Aid Funds experience.
5. Strong project management and data analysis skills.
6. Experience with PowerBI would be advantageous.
7. Advanced MS Excel and PowerPoint skills.
8. Significant Job Grading experience.
9. A solid understanding of local and an awareness of global regulatory reward frameworks, legislation and best practice standards.