Performance and Reward Manager
Chetwood Bank
contract
Posted on:
Location Type: Hybrid
Location: Wrexham • 🇬🇧 United Kingdom
Visit company websiteJob Level
Mid-LevelSenior
About the role
- Compensation Strategy Development: Develop and maintain competitive and fair compensation structures (e.g., salary bands, bonuses, stock options). Ensure that compensation packages are aligned with market trends, industry standards, and organizational goals. To regularly assess the effectiveness of compensation strategies and make adjustments when needed.
- Benefit Management: Oversee employee benefits programs, including health insurance, retirement plans, wellness initiatives, and other perks. Evaluate the cost-effectiveness and employee satisfaction levels of current benefit offerings. Stay updated on legal regulations and ensure benefits compliance.
- Incentive Programs: Design, implement, and manage incentive schemes (e.g., performance bonuses, profit-sharing, and employee recognition programs). Ensure that incentives are motivating and linked to both individual and organisational performance.
- Reward Analytics and Reporting: Conduct regular compensation benchmarking and salary surveys to ensure competitiveness within the industry. Provide data-driven insights and recommendations to senior management on reward-related matters. Monitor reward program costs and measure the effectiveness of reward strategies. Quarterly MI reports for the QPCC and Board
- Policy and Compliance Management: Ensure compliance with all laws and regulations. Develop and communicate reward policies to employees, ensuring transparency and understanding. Address employee queries and concerns regarding compensation and benefits.
- Stakeholder Management: Work closely with senior leadership and HR business partners to understand the strategic goals and needs of the organisation. Collaborate with line managers to ensure that reward strategies are aligned with employee performance and business outcomes. Advise managers on reward-related matters, such as salary negotiations and employee retention.
- Employee Communication and Engagement: Promote and communicate the value of reward programs to employees, ensuring clarity on how rewards are determined and distributed. Foster a culture of recognition and motivation through reward programs. Collect employee feedback and continuously improve reward programs based on this input.
- Talent Retention and Attraction: Ensure reward programs are designed to help attract top talent and retain key employees. Collaborate with the TA team to ensure that compensation packages are competitive in the job market.
- Performance Management: Manage the annual performance cycle to ensure there is a link to the salary review cycle.
- Gender Pay Report Produce the data to support the publication of the gender pay report. Ensure the remuneration framework supports the gender pay gap commitments
Requirements
- Relevant degree or equivalent experience
- Preferable to have a Reward qualification.
- Analytical and reporting skills
Benefits
- Competitive salary
- 25 days holiday PLUS your BIRTHDAY off
- Pension contribution with Royal London
- Life Assurance
- Private medical, dental and optical health insurance with Axa
- Hybrid working – Wrexham
- Free breakfast available
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard skills
compensation strategy developmentbenefit managementincentive program designreward analyticssalary benchmarkingdata-driven insightspolicy managementperformance managementgender pay reportingcost-effectiveness evaluation
Soft skills
stakeholder managementemployee communicationengagementcollaborationanalytical skillsreporting skillsemployee feedback collectionmotivationtransparencyproblem-solving
Certifications
Reward qualification