The Compensation and HR Planning Manager is responsible for developing, maintaining a competitive performance management system as well as compensation and benefits structures in the Bank to facilitate the attraction, retention and motivation of staff and ensure that the Bank is operationally and functionally competitive in the banking sector.
Principal Duties and Responsibilities:
- Develops an effective and integrated performance management framework and strategies that is linked to the Bank’s overall business strategy and objectives.
- Plans, conducts and coordinates the performance management program and advise line management on performance issues to contribute to the growth and development of individual staff.
- Oversees the performance management process from targets setting to performance assessment, feedback and communication, and compilation and analyses of results
- Devises, manages and implements approved compensation and benefits projects to facilitate requirements and maximize retention within objective and systematic framework
- Ensures the efficiency and effectiveness of the staff appraisal system and the link to reward allocation decisions and organizational development
- Manages all the Bank’s job analyses, job descriptions writing and evaluation activities to ensure that each job is correctly valued, consistently graded and compensated in accordance with prevailing HR policies.
- Researches and prepares timely and meaningful compensation reports, contingency models and recommendations on salary survey findings, the Bank’s compensation and benefits position versus market, internal discrepancies to ensure senior management is aware of relevant facts and consequences for decision making
- Manages the salary increase, adjustment and promotion processes of the bank and ensures that HRMS is updated.
- Maintains the organizational structure of the bank both on the HRMS and soft copy format
- Partners with business units to develop and implement incentive plans
- Develops and maintains a competitive performance bonus system ensuring rewards are linked to performance
- Ensures the annual processes with regards to performance bonus calculations, payment and notifications are completed
- Maintains the long term incentive plan of the bank and ensure that annual allocations are calculated and distributed as well as employees and custodian informed
- Reviews, enhances and maintains all the compensation policies
- Ensures regularly reporting of employee information to Finance, SAMA, etc are accurately done and on time
- Develops and maintains current knowledge of HR compensation and benefits developments and practices to enhance employee’s contribution to organization development