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Compensation Planning

Compensation Planning

delegaturaLíbano
منذ أكثر من 30 يومًا
الوصف الوظيفي

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Compensation Philosophy

  • Develops a clear compensation philosophy that guides decision-making regarding salary structure design, including principles related to pay equity, performance-based pay, and total rewards.

Job Analysis

  • Understands the responsibilities, duties, and requirements of each position within the organization.
  • Applies job evaluation methodologies such as ranking, classification, point factor, or market pricing to determine the value of each job based on factors like skills required, level of responsibility, and impact on organizational goals.
  • Maintains all jobs data available and documented, performs regular updates following any change in scope or job requirements.

    • Market Analysis

  • Research and analyses market trends and salary data to determine competitive compensation rates for each job role.
  • Research to understand prevailing market rates for similar job roles in the industry and geographical location.

    • Salary Structure Development

  • Establishes salary ranges for different job positions based on factors such as job level, experience, and market rates.
  • Reviews and updates salary ranges by market, regularly making sure we are using the right benchmarks and data. (Establishes grades, pay bands and salary ranges for different job levels or grades within the organization. These ranges typically consist of minimum, midpoint, and maximum salary levels, providing flexibility for hiring, promotion, and retention while ensuring internal equity.)

    • Salary Surveys

  • Represents the organization in participating to salary surveys to gather data on compensation practices from other organizations in the same industry or region. This data is used to benchmark the organization's salary structure against industry norms

    • System Update

  • Ensures thesystem is uploaded with most recent salary data and benchmarks for easy reference for people managers, enabling them to perform the compensation cycle .
  • Promotes deployment of the system (people group) usage across the board as a tool to review compensation annually)

    • Budgeting

  • Provides HR Heads and businesses with the estimated budget requirements for compensation adjustments and salary increases
  • Educates HRD and line managers on the philosophy and principles of compensation, and the principles of job evaluation, and on the main compensation planning and remuneration cycles

    • Legal Compliance

  • Ensures that compensation practices comply with relevant laws and regulations governing minimum wage, overtime pay, equal pay, and other labour standards.

    • Continuous Monitoring and Adjustment

  • Regularly reviews and adjusts compensation plans in response to changes in market conditions, organizational goals, and documented employee feedback. Conducts special compensation review projects for markets in special situation (i.e. hyper-inflation, massive turnover etc)
  • Evaluates and slots against salary structure all roles in EMME SG5+. equips markets with necessary knowledge to conduct job evaluation, and reviews periodically to ensure respect of the set criteria and methodology.
  • Manages the relationship with all service providers (Hay, Mercer etc)
  • Communicates the salary structure and compensation philosophy to employees to foster understanding and trust.

    • Este trabalho é para você?

  • Bachelor's degree in Business Administration, Human Resources, Finance, or a related field.
  • 2-3 years of experience in a similar role.
  • Ability to cope and work under pressure.
  • Strong numerical and analytical skills with keen attention to detail.
  • Proficiency in Microsoft Excel and other relevant software applications.
  • Ability to maintain confidentiality and handle sensitive information with discretion