Overview
Performance and Reward Manager – Wrexham
Salary:
Key Responsibilities
- 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
Skills, Knowledge and Expertise
- 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
About Chetwood Bank
We’re a UK-based digital bank dedicated to getting the basics right and offering straightforward savings and mortgages
Data Protection
We anticipate that we will retain your data as part of the recruitment process for no longer than is necessary for the purpose for which it was collected unless we have sought your consent to keep your data for future suitable job vacancies.
Cifas
The personal information we have collected from you will be shared with Cifas who will use it to prevent fraud, other unlawful or dishonest conduct, malpractice, and other seriously improper conduct. If any of these are detected you could be refused certain services or employment. Your personal information will also be used to verify your identity. Further details of how your information will be used by us and Cifas, and your data protection rights, can be found by https://www.cifas.org.uk/fpn.
Chetwood Bank does not accept speculative or unsolicited CVs from Recruitment Agencies. Any unsolicited CVs received will be treated as the property of Chetwood Bank and Terms & Conditions associated with the use of such CVs will be considered null and void.
