Compensation and Benefit Manager at Alfred & Victoria Associates

Job Summary

• Responsible for managing the strategic planning, design, implementation, maintenance, regulatory compliance, communication, and administration of all compensation and benefit programs consistent with the organization’s human capital objectives.
• Ensure costs associated with compensation and benefits are in line with the organization’s objectives, culture, and philosophy and Develop competitive and cost-efficient programs that will assist with employee retention and attract top talent within the Organization.

Key Accountabilities
Determining Market Rates:

• Evaluate every position and determine the proper market value for each job.
• This can be conducted through salary surveys and statistical analysis to determine what the market value is for each job.

Collaboration:

• Work with HR and other departments to align programs with business strategies

Compensation Surveys:

• Conduct market intelligence, compensation surveys and benefits benchmarking, and apply the survey outcomes to implement necessary changes in synergy with business strategy.

Audits, Reviews & Implementation:

• Drive quality assurance and performance improvement, carrying out periodic reviews and audits to improve efficiency and effectiveness of compensation & Benefits implementation.

Payroll Contributions:

• Facilitates accurate and timely delivery of employer contributions and employee payroll deductions to carriers, plan administrators, or other appropriate service providers.

Job Evaluation:

• Drive and implement organizational effectiveness through instituting a job evaluation framework that is aligned to the compensation, promotion, talent etc. processes.
• Conduct job analysis/evaluation to determine appropriate market pricing; review and approve salary increases and advise management on compensation actions for employees.

Industry and Regulatory Liaison:

• Lead liaison with all key external stakeholders on pay related matters e.g. ITF, JV partners, Consultants, etc. to assure regulatory and business compliance in Nigeria/UK.
• Maintain a working knowledge of international, federal, and state legislation influencing compensation and benefits.

Monitoring Internal Equity & Analytics:

• Ensure that the pay is equitable internally by checking not only the internal equity of people with the same job level, but looking across the organization, taking special note for differences in key diversity indices such as race, gender, and age.
• The application of required analytic tools to identify and confirm grounds for any variances.

Manage programs:

• Manage programs such as deferred compensation plans, variable compensation plans, health insurance, disability insurance, life insurance, retirement plans and other company plans and programs.
• They should also be able to adapt to change and prioritize tasks

Academic Qualifications

• B.Sc in any discipline and full membership of a reputable Professional Body of Compensation & Benefits specialists.

Experience:

• Minimum of 12 years HR Generalist experience with at least the last 5 years in a specialist Compensation & Benefits role.
• Knowledge, understanding, and application of Federal and State employment & tax laws
• Experience working with standard HR Information systems.
• Experience in Food and Beverage Industry is key.

Compensation and Benefits

• Develop and implement a Total Reward strategy, framework and practices to strengthen a differentiated Employee Value Proposition and enhance company’s competitive position.
• Research and compare incentive compensation plans offered by comparable organizations (in demography and job market); assess competitors’ plans and make recommendations for enhancements or improvements required to keep the organizations plans competitive and effective.

Salary and Benefits Structures & Administration:

• Develop and implement a robust and flexible salary and benefits framework; also, provide advisory to the Board Remuneration Committee on executive pay, Long Term Incentive Plan etc.
• Maintains knowledge of economic conditions, labor market, and other factors related to ensuring the organization provides competitive and reasonable benefits and compensation scales and structures.
• Develops pay systems that are industry competitive and enable management to focus on and reward individual and group performance.
• Recognition: Acknowledge employee efforts with non-financial rewards