Rewards & Benefit Manager at Cormart Nigeria Limited

The Rewards & Benefits Manager is responsible for designing, implementing, and managing the organisation’s total rewards strategy, including compensation, benefits, incentives, and recognition frameworks. The role ensures internal equity, external competitiveness, and alignment with business strategy to attract, motivate, and retain top talent.

Job Details

Compensation Management

• Design and maintain competitive salary structures and grading systems.
• Conduct regular market benchmarking and salary surveys to ensure external competitiveness.
• Manage annual salary review, increment, and promotion cycles.
• Ensure internal pay equity and adherence to organisational policies and budgets.

Benefits Administration

• Oversee all employee benefits programs including health insurance, pension, leave policies, wellness programs, and other perks.
• Evaluate and manage relationships with third-party benefits providers.
• Continuously assess and improve benefits offerings to enhance employee experience and retention.

Incentives & Performance Rewards

• Design and implement short-term and long-term incentive plans (bonuses, commissions, performance pay).
• Partner with business leaders to align reward structures with performance outcomes and KPIs.
• Ensure transparency, fairness, and consistency in incentive calculations and payouts.

Policy Development & Governance

• Develop and maintain compensation and benefits policies in line with legal requirements and best practices.
• Ensure compliance with labour laws, tax regulations, and internal governance standards.
• Provide advisory support to management on reward-related decisions.

Data Analysis & Reporting

• Analyse compensation and benefits data to provide insights and recommendations.
• Prepare regular reports on reward spend, trends, and effectiveness.
• Support workforce planning and budgeting with reward-related analytics.

Stakeholder Management

• Collaborate with HR Business Partners, Finance, and business leaders on reward strategies.
• Communicate reward policies and programs clearly to employees and management.
• Lead reward-related employee education and engagement initiatives.

Requirements

• Bachelor’s degree in Human Resources, Finance, or related field (Master’s degree is an advantage)
• Professional certification (e.g., CIPM, SHRM, SPHRi) is desirable
• 5–8+ years of experience in compensation and benefits or total rewards function
• Strong analytical skills and proficiency in HR analytics tools and Excel
• Experience in designing reward structures in a corporate or multi-business environment

Core Competencies

• Analytical thinking and data-driven decision-making
• Strong business acumen
• Attention to detail and high level of accuracy
• Stakeholder management and influencing skills
• Integrity and confidentiality
• Strategic thinking and planning