Compensation Specialist at Jake Riley Limited

JOB DESCRIPTION

• Develop compensation plans that align with the overall objectives of the organization or client.
• Ensure that compensation strategies support business goals and growth.
• Create compensation and benefits programs that attract and retain high-caliber employees.
• Consider competitive pay, incentives, and other perks to enhance employee satisfaction.
• Assess the specific compensation and benefits needs of the client’s business.
• Understand their unique context, industry, and workforce requirements.
• Conduct salary benchmarking by comparing compensation levels with similar organizations.
• Determine competitive pay points for various roles and job grades.
• Develop a clear remuneration philosophy that guides compensation decisions.
• Define principles related to pay equity, performance-based rewards, and fairness.
• Review and redesign the client’s remuneration salary and benefit framework (pay structure).
• Consider factors such as job levels, market data, and internal equity.
• Create pay bands (salary ranges) for different job categories.
• Define steps within each band to accommodate career progression.
• Ensure compliance with legal requirements related to compensation and benefits.
• Good knowledge of labor laws, tax regulations, and reporting obligations.
• Leverage technology and data analysis to identify compensation trends.
• Collaborate with project teams to develop effective solutions based on insights.

REQUIREMENTS:

• Bachelor's degree in Social/Management Sciences, Humanities or a related field; MBA/Masters degree preferred.
• 10 years of work experience as a Compensation Specialist in the oil and gas industry, with a track record of success.
• In-depth knowledge of Compensation best practices, employment legislation, and industry trends.
• Strong interpersonal and communication skills, with the ability to build effective relationships at all levels.
• Excellent leadership and team management capabilities.
• Strategic thinker with the ability to translate business goals into HR initiatives.
• Certification in Human Resources (e.g CIPM SHRM) is a plus.