Compensation and Benefits Strategist
7 days ago
This is a senior role that oversees the development and implementation of competitive compensation and benefits programmes. The ideal candidate will have strong analytical skills, deep expertise in compensation structures, and a strategic approach to benefits planning.
Key Responsibilities- Develop and drive compensation and benefits strategies that support business goals and workforce needs.
- Ensure that all programmes align with market trends, compliance requirements, and company objectives.
- Collaborate with leadership and internal stakeholders to develop long-term plans for compensation and benefits.
- Drive the implementation and change process for new business units, ensuring harmonisation and alignment of compensation and benefits policies across the organisation.
- Conduct market benchmarking and analysis to ensure competitive salary structures, incentive plans, and benefits offerings.
- Oversee annual salary reviews, performance-based incentive schemes, and other reward programmes.
- Provide expertise in job evaluation, salary grading, job banding, and structuring compensation packages.
- Evaluate and enhance benefits and staff insurances to ensure they remain attractive, comprehensive, and competitive.
- Work with vendors and service providers to optimise cost-effective and high-value benefits offerings that enhance employee well-being and engagement.
- Support the implementation of performance management frameworks that align with compensation strategies to drive a high-performance culture.
- Ensure that pay-for-performance models are effectively integrated into rewards programmes, linking employee performance outcomes with compensation structures.
- Collaborate with HR business partners and leadership to continuously improve performance evaluation processes and ensure fairness and transparency.
- Responsible for overseeing the appraisal management system, as a custodian of the appraisal management system.
- Manage HR analytics and reporting related to workforce planning, compensation, and benefits to provide data-driven insights for decision-making.
- Develop and present reports and dashboards for management to track compensation trends and workforce planning.
- Ensure compliance with local labour laws, tax regulations, and industry best practices related to compensation and benefits.
- Collaborate closely with Finance and internal stakeholders to develop and manage manpower budgets efficiently.
- Conduct comprehensive financial analysis and provide accurate cost projections related to compensation and benefits programs and manpower expense.
- Ensure sustainable workforce planning that aligns with organisational growth and operational needs.
- Monitor and manage the HR budget collaboratively with rest of HR team leads to ensure optimal utilization rate, resource allocation, and cost-effectiveness.
- Bachelor's degree in Human Resources, Business Administration, Finance, or a related field. A professional certification in compensation (e.g., CCP) is a plus.
- Minimum of 6-10 years of relevant experience in compensation and benefits, in a managerial capacity.
- Strong analytical skills and experience with salary benchmarking tools and HR analytics.
- Solid understanding of labour laws, tax regulations, and best practices in compensation and benefits.
- Excellent communication and stakeholder management skills.
- Proficiency in Microsoft Excel and HRIS systems for data analysis and reporting.
- Ability to work independently and collaboratively in a fast-paced environment.
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