We are looking for an individual with strong strategic, analytical and organisational skills to lead the Remuneration Department. Under the direction of the financial director, you will be responsible for providing direct leadership to the department in the achievement of set objectives and targets. The main purpose of the job is to align the Remuneration and Benefits strategy with the needs of the business and integrate the core remuneration competencies and processes into organisational objectives.
You will be working for a company that is over 100 years old with strong values which are customer centric. In return for your services, you will be paid a competitive package which includes pension fund contributions and a medical aid allowance. You will have access to personal services through the employee assistance program and wellness programs. You will be working for an organization that values employee development and rewards excellent performance.
RESPONSIBILITIES INCLUDE:
Develop and implement (maintain) a sound remuneration strategy aimed at rewarding people fairly, equitably and consistently in accordance with their value added to the Group.
Full end-to-end reward management including philosophy and strategy development, implementation, governance, communication, benchmarking, process and practice development, as well as the required annual cycle reviews for:
Non-executive Directors in collaboration with Group Secretary;
Executive Directors;
Management and general employees.
Prepare all remuneration proposals including annual remuneration reviews for the Remuneration Committee and take responsibility for the compilation of Remuneration Committee packs.
Responsible for the development and maintenance of the Remuneration Policy which is ultimately approved by the Board.
Responsible for recommending amendments to the short and long-term incentive plans to the Remuneration Committee and acts as owner of these rules.
Direct ongoing benchmarking of all Remuneration policies, programs, and practices to keep management informed of new developments.
Develop (and recommend) and manage the Group's pay structure. This includes the delineation and structure of fixed and variable pay systems within the Group, which includes short-term incentives, long-term incentives, commissions, rewards, annual and equity increases. Commissions excludes commission paid to intermediaries.
Direct the design and develop, and manage appropriate incentive and commission schemes to reward employees across the business in bargaining units, sales, management, etc. Assist with the recommendations by business units to the People Practices Committee and prepare the recommendations to the Remuneration Committee and the Board.
Manage the approval of the general employee pay scales and obtain appropriate pay scales for senior management. Propose management increases based on pay scales and increase rules to the Remuneration Committee and ensure that short-term and long-term incentives are proposed in terms of the scheme rules.
Accountable that proposed general employees' increases and bonuses are calculated by the department accurately and in terms of the guidelines for presentation to the People Practices Committee for approval.
Oversee the preparation of the annual increase process.
Review of all management's increase, long-term incentive letters for accuracy.
Advise on package structuring and take-on arrangements for senior employees.
Guide and manage the Group's benefits, including service providers, rate reviews, best practice benefit offerings, benefit communication, relevant advisory committees.
Recommend changes in benefits offered, especially new benefits aimed at employee satisfaction and retention.
Manage the review of senior management positions' gradings, including the review and advice on job specifications and structures. Prepare recommendations for the Remuneration Committee regarding senior management structures based on best practice research.
Review all requests for manpower to ensure that additional staff or requested changes is required by workload, organisational design principles are complied with, roles are correct levels and that costing is fair.
Benchmark salary and other related benefits to market practice and recommend cost-effective amendments to remain market related.
Responsible that salary and related documentation is updated annually for approval by the People Practices Committee.
Effective management of the Groups' payroll and administration departments.
Report through the necessary structure to the Executive Committee, Board and Remuneration Committee on all reward, remuneration, compensation benefits and related aspects for the organisation.
Create templates and calculation formats to equip and support Talent Acquisition with regards to recruiting the right candidate, and equipping business with the necessary templates and metrics to structure employee packages.
Minute important Remuneration Committee meetings, particularly those related to annual reviews.
Direct and ensure that the workforce budgetary prescriptions are managed optimally in line with business protocols and ensure that the workforce financial allocations are determined in accordance with deliverables.
Develop, lead and maintain a motivated and high performance team.
Implement performance management in the team, through setting of smart targets that contribute to meeting the Group's objectives, tracking and monitoring performance.
Mentor, manage and develop direct subordinates - including continuously providing feedback and coaching to ensure that team members perform at optimum productivity levels.
Create and maintain a climate conducive to performance to ensure that the departments deliver against objectives.
Provide advice on sensitive matters to the General Manager: Human Resources, Financial Director and Chief Executive Officer.
Perform any other related duties as requested by management.
MINIMUM REQUIREMENTS:
A relevant degree.
A post graduate qualification will be advantageous.
Minimum 10 years' remuneration experience in a senior management role.
Proven experience in leading, coaching and developing teams.
Broad knowledge and experience in employment and compensation law.
Demonstrated ability to interact effectively with the Board of Directors.
Experience in the administration of benefits and compensation programs.
Good employees tax knowledge.
Experience in managing payroll and HR Systems.
Knowledge of employee benefits and benefit administration (retirement, risk, medical aid).
Understanding and experience in various package structures and approaches.
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