Head Of Rewards

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 trends and recommend retention initiatives
Work with HR and management to identify and address retention risks

Payroll Management

End to end ownership of the payroll function
Payroll processes and ensure accuracy and compliance
Collaborate with Finance to manage payroll budgets and forecasts

Benefits Administration

Manage employee benefits programs, including:
Provident fund
Medical aid
Other relevant benefits
Regularly review and optimize benefits offerings

Board Reporting and Remuneration Committee (RemCo)

Prepare and present reports to the board on reward-related matters
Support the Remuneration Committee with data, analysis, and recommendations
Ensure compliance with corporate governance requirements for listed companies

Annual Increases

Develop and implement annual salary increase processes
Provide guidance on increase budgets and allocation methodologies
Ensure fair and consistent application of increase policies

Team Management

Lead and develop the Rewards team
Set team objectives and monitor performance
Foster a culture of continuous improvement and innovation

Communication and Education

Develop and implement communication strategies to effectively convey the company's reward philosophy and programs to employees
Educate managers and employees on reward policies, processes, and best practices
Provide training to HR business partners on reward-related topics
Create clear, engaging, and personalized communications about reward programs
Develop user-friendly guides and resources to help employees understand and maximize their total rewards package
Implement innovative methods (e.g., gamification, interactive tools) to educate employees about their rewards

Systems and Analytics

Oversee the implementation and maintenance of reward management systems
Utilize data analytics to provide insights on reward program effectiveness, cost management, and ROI
Develop dashboards and reports for senior management and the board

Compliance and Governance

Ensure all reward programs comply with relevant laws, regulations, and corporate governance requirements
Prepare reports and presentations for the Remuneration Committee and Board of Directors
Stay informed about changes in legislation and industry standards that may impact reward practices

Stakeholder Management

Build and maintain strong relationships with key stakeholders, including senior leadership, HR colleagues, Finance, and external vendors
Collaborate with other HR functions to ensure alignment of reward strategies with overall HR and business strategies
Manage relationships with external consultants and service providers

User Experience in Reward Programs

Design intuitive and user-friendly interfaces for all reward-related processes and systems
Ensure seamless employee experience across all reward touchpoints (e.g., benefits enrollment, performance reviews, compensation statements)
Implement self-service tools that allow employees to easily access and manage their rewards information

Continuous Improvement

Regularly conduct user experience surveys and focus groups to gather feedback on reward programs
Analyze user data and behavior to identify areas for improvement in reward processes and systems
Implement agile methodologies to quickly iterate and improve reward offerings based on user feedback

Personalization and Flexibility

Develop flexible reward options that allow employees to customize their package based on individual needs
Implement technology solutions that enable personalized reward recommendations
Create a rewards ecosystem that adapts to changing employee preferences and market trends

Stakeholder Collaboration

Work closely with IT, HR, and other departments to ensure a seamless integration of reward systems with other employee-facing platforms
Collaborate with internal communications teams to create engaging and effective reward-related messaging
Partner with managers to ensure they can effectively communicate and administer rewards to their teams

Metrics and Analytics

Develop and track key performance indicators (KPIs) related to employee satisfaction with reward programs
Use data analytics to measure the impact of reward programs on employee engagement, retention, and performance
Provide insights and recommendations to leadership based on employee feedback and program effectiveness

Innovation in Rewards

Stay informed about emerging trends in reward management and employee experience
Pilot innovative reward concepts and gather user feedback before full implementation
Leverage technology (e.g., AI, machine learning) to enhance the user experience of reward programs



SKILLS

Strategic thinking and business acumen
Leadership and team management
Attention to detail and accuracy
Ethical conduct and confidentiality
Project management
Stakeholder management
Change management
Negotiation skills
Innovation and creativity in reward design
Data-driven decision making

EDUCATION

Matric
Master's degree or relevant professional certifications (e.g., CCP, GRP) preferred

EXPERIENCE

10+ years of experience in rewards and compensation, with at least 5 years in a leadership role
Strong knowledge of South African labor laws and regulations
Excellent analytical and problem-solving skills
Advanced Excel and data analysis skills
Strong communication and presentation abilities
Experience with HRIS and compensation management software


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