Compensation & Benefits Specialist

Permanent opportunity, ASAP start
- Based near Sydney Airport - moving to the CBD mid-year
- $120k + super

Global retail brand seeking an analytical Compensation & Benefits Specialist to implement the global standard across the Australian business. Working closely with the FP&A Manager and the HR team.
- Permanent opportunity, ASAP start
- Based near Sydney Airport - moving to the CBD mid-year
- $120k + super

As the Compensation & Benefits Specialist, you will have a crucial responsibility of ensuring that the compensation and benefits package for Australia and New Zealand is appropriate, aids in employee attraction and retention, and conforms to corporate policies, procedures, and frameworks. In this role, you will collaborate closely with the Regional Compensation & Benefits team located in Hong Kong and oversee total rewards in ANZ. This will include creating and executing effective strategies for performance, reward, and benefit frameworks.

**Key Responsibilities**:

- Offer compensation and benefit guidance to key stakeholders across the business, including analysing external market data, benchmarking, and adhering to salary and compensation governance.
- Continuously manage and communicate the company's benefits package, consistently reviewing and recommending future benefit initiatives to enhance the employee value proposition.
- Create and implement compensation and benefit frameworks for employees and executives, aligning with the business strategy, strategic HR initiatives, and external market factors.
- Oversee the end-to-end compensation review process, working closely with the HR team, Payroll & Finance teams, and Division Leaders.
- Manage the Short-Term Incentive (STI) and Long-Term Incentive (LTI) and bonus processes such as performance-based, discretionary, retention, and project-based bonuses, with the help of the HR team and Payroll.
- Establish and implement a robust job evaluation and grading methodology across ANZ for both new and existing roles.
- Collaborate with the Global Compensation and Benefits team to ensure ANZ's participation and rollout of global benefit initiatives.
- Assist with maintaining the job description database, ensuring all positions have an appropriate title, responsibilities, and qualifications.
- Prepare and conduct compensation, benefits, and rewards surveys, analyse results to determine their impact, and make recommendations as necessary.

**Reporting & Compliance**:

- Advise and provide recommendations to key stakeholders across the business on compensation and benefits, including analysing external market data, benchmarking, and ensuring compliance with salary and compensation governance.
- Develop and implement compensation and benefit frameworks that support the business strategy, align with strategic HR initiatives and external market factors, and cater to the needs of both employees and executives.
- Lead and manage the compensation review process with the support of HR, Payroll, and Division Leaders to ensure fairness, internal equity, and regulatory compliance.
- Manage various types of bonuses, including performance-based, discretionary, retention, and project-based bonuses, with the support of HR and Payroll.
- Design and implement a job evaluation and grading methodology across ANZ to ensure the consistency and fairness of compensation.
- Collaborate with the Global Compensation and Benefits team to ensure the participation and rollout of global benefit initiatives in ANZ.
- Conduct compensation, benefits, and rewards surveys, analyse results, and make recommendations as needed to enhance compensation plans and programs.
- Ensure compliance with WHS legislation, NES, Awards, and Fair Work, and keep the business informed of any changes and their impacts.
- Regularly audit employee compensation to ensure regulatory compliance and internal equity across positions, including monthly payroll checks for SOX compliance.
- Work closely with Finance teams to track and report staffing costs for budgeting and forecasting purposes.
- Analyze compensation and benefits plans and programs regularly to assess their effectiveness and quality, and present findings and recommendations to the HR team and Executive Management as required.
- Keep up-to-date with industry trends and regulatory changes, and participate in compliance activities such as training, meetings, and information sessions.
- Utilize HRIS and Payroll systems to maintain compensation and benefits reporting, monitor internal compensation trends and issues, and identify areas for improvement.
- Build and maintain relationships with external providers, agencies, and suppliers to support the delivery of compensation and benefits plans and programs.
- Provide ad hoc guidance to the HR team to support divisional requirements, and perform general ad hoc projects or administration as needed.

**Requirements**:

- Demonstrated experience and/or qualified in job evaluation preferably with Mercer IPE method