Reward & Benefits Manager - Fixed Term Contract
To act as a key contact and provide reward advice and guidance to colleagues and managers and to take ownership of specific projects within your area of responsibility
You will work with the HR team in the development and delivery of the HR strategy, through contributing to reward policies and procedures, continuous improvement and management of general reward activity relating to remuneration including bench-marking.
A Top 10 Professional Services / Accountancy firm based in the City of London
The Reward & Benefits Manager - Fixed Term Contract (12 months) will be covering a maternity leaver and wil report to the HR Director and this role will also play an important client facing strategic and operational role in developing, planning for and delivering reward and HR projects. The Reward team works in collaboration with the Human Resources, Learning & Development, Recruitment & Resourcing teams.
Key responsibilities include:
- Oversee the payroll submission on a monthly basis including running reports, spot-checking the accuracy of payroll submissions, assisting with manually calculating statutory payments, annual leave and where necessary assisting with the provision manual payslip calculations
- Lead payroll related projects including working with HR and advising from a payroll perspective, in case of any TUPE transfers and acquisitions
- Assume responsibility for processes in relation to the bonus and all other reward and recognition arrangements in line with the firm's strategy
- Work closely with the HR management team to manage and implement the annual salary review process accurately and effectively within budget constraints
- Ensure salary bench marking data is carried out on a six-monthly basis to attract and retain talent collaborating with the HR management team producing a report for the Management Board with any recommendations for change.
- Maintain market data and participate in the Willis Towers Watson pay and benefits surveys and enable access to current market pay data
- Undertake job evaluations and manage the job codes within the HR database ensuring accuracy at all times
- Responsible for providing figures to Finance for year-end reporting of P11Ds to ensure accurate data is provided, processed and submitted to the HMRC in a timely manner
- Collaborate with Finance and Legal to manage the Gender Pay Gap reporting process
- Monitor and assist with employee benefit eligibility, enrolment and related queries
- Review and maintain relationships with third-party suppliers of employee benefits and develop other non-cash reward initiatives.
- Attend pension governance meetings and work with Finance to ensure the firm complies with data requirements on pensions
- Review the auto enrolment process including eligibility testing, processing of joiner and leavers, change in contributions and opts out, contribution reconciliation, salary updates, pension increases etc.
- Undertake regular reviews and analysis of the uptake and usage of benefits, making recommendations for any actions and promotion to ensure our benefits are well utilised
- Prepare analyses and reports to monitor reward trends and costs; and the effectiveness of existing reward programs and processes in support of recommending revisions and/or new plans that are cost effective and align with the firm's strategy.
- Ensure all reward information is up to date on the employee benefits platform, HR database and firm's hub pages
- Lead the monthly spot bonus reporting process for the Management Board and liaise with Finance regarding the processing of the firm's annual bonus.
- Manage all benefit renewals with brokers ensuring accurate data is provided and negotiate costs where necessary
- Develop new reward processes when applicable and proactively lead the development of these processes.
- Lead the delivery of key reward projects such as changes to pay and review of employee benefits provision
- Support the HR team on reward policies and practices to enable successful delivery of the reward strategy
- Act as the escalation point for the HR, Recruitment & Resourcing and L&D teams for any queries relating to pay, benefits and pensions.
- Actively participate in strategic HR initiatives and departmental activities/projects as appropriate.
- Keep up-to-date with external developments which may impact strategy and where necessary undertake research.
- Develop/maintain a detailed knowledge of Reward issues through appropriate reading, seminars, networking events and practical experience.
The successful Reward & Benefits Manager - Fixed Term Contract will need to have:
- Solid experience working at Manager level in reward including experience of pensions, job evaluation and management of cyclical activity such as salary review and bonus processes.
- Good working knowledge of the tax implications and legal compliance requirements of reward, including salary sacrifice schemes.
- Strong numerical and advanced analytical and problem-solving skills, ability to understand trends and develop recommendations for action based on analysis
- Experience of giving advice to colleagues and managers on reward and benefits issues, including pensions.
- Ability to quickly build strong relationships with people at all levels across the business and in particular, Senior Management.
- Excellent influencing skills and credibility at senior level.
- Ability to work under pressure and prioritise own work as well as others
- Strong client service skills and excellent communication both verbal and written.
- Excellent attention to detail.
- Professional, credible and responsive.
- Strong organisational and prioritisation skills.
- Perform work with highest levels of confidentiality and integrity.
In addition, the following skills/experience would be useful for the successful candidate:
- Part or fully CIPD qualified or has commensurate professional experience.
- Good understanding of the professional services environment
- Facilitation experience or a willingness to get involved in facilitating induction programmes or other events as and when required
- Is typically fully qualified in area of specialism through professional qualification or commensurate professional experience
- Works independently to manage day-to-day activities and is accountable for work produced
- Plans tasks effectively and monitors time-lines, advising manager/client of progress (as appropriate)
- Allocates work to less experienced colleagues and monitors completion of tasks to ensure quality of results
- Uses a range of techniques to analyse issues, applying previous experience and technical knowledge to propose solutions to problems
- Identifies improvements (to processes or the business) within own area of function and refers to other colleagues for next actions
A competitive fixed term contract salary (dependant on experience) and excellent benefits package