Senior Executive (Performance Management)

JOB SUMMARY The Senior Compensation & Benefits Executive is responsible for developing and managing the organization’s compensation and benefits programs. This role ensures competitive remuneration, drives employee engagement through rewards and recognition initiatives, and aligns pay structures with market benchmarks to attract and retain top talent in the retail industry. JOB RESPONSIBILITIES: - 1. Rewards & Recognition • Design and implement reward and recognition programs to enhance employee motivation and engagement. • Manage the employee recognition framework, including awards for service excellence, long service, and outstanding performance. • Coordinate company-wide recognition initiatives and events to celebrate employee achievements. • Monitor the effectiveness of reward and recognition programs and recommend improvements. 2. Staff Benefits • Oversee the administration of employee benefits programs, such as medical insurance, retirement plans, leave entitlements, and wellness initiatives. • Review and enhance the organization’s benefits offerings to ensure competitiveness and alignment with industry standards. • Manage relationships with benefits providers, ensuring timely renewals and resolving employee queries. • Communicate benefits programs effectively to employees to ensure understanding and engagement. 3. Bonus & Increment Analysis • Conduct annual salary and bonus reviews, analyzing individual and team performance to ensure fair and transparent rewards distribution. • Collaborate with HR leadership and finance teams to develop bonus structures and increment budgets. • Prepare detailed reports and recommendations for management on bonus and increment distribution. • Ensure all bonus and increment decisions comply with company policies and labor laws. 4. Market Salary Benchmarks • Conduct regular salary benchmarking exercises using industry data to ensure competitive pay structures. • Analyze market trends, salary surveys, and economic factors to inform compensation strategies. • Provide recommendations to HR leadership on salary adjustments and alignment with market standards. • Maintain a database of market benchmarks and internal salary ranges for reference in recruitment and retention strategies. 5. Compensation Strategy and Compliance • Support the development and execution of the organization’s compensation strategy to attract and retain talent. • Ensure compliance with statutory requirements and labor laws related to compensation and benefits. • Review and update compensation policies and procedures to align with organizational objectives and market changes. 6. Reporting and Analytics • Prepare detailed reports and dashboards on compensation trends, benefits utilization, and reward program effectiveness. • Monitor and analyze compensation data to identify gaps and areas for improvement. • Provide insights and recommendations to management to support data-driven decision-making. 7. Stakeholder Collaboration • Work closely with HR Business Partners, Payroll, and Finance teams to ensure smooth execution of compensation and benefits programs. • Act as the main point of contact for employees on compensation and benefits-related queries. • All ad hoc job-related functions as and when required. Key Competencies and Skills • Strong knowledge of compensation and benefits practices, market benchmarking, and labor laws in Malaysia. • Proficiency in using HRIS and payroll systems to manage compensation data. • Advanced Excel skills for data analysis and reporting. • Excellent analytical and problem-solving skills to interpret compensation data and trends. • Strong attention to detail with a commitment to accuracy and compliance. • Effective communication and interpersonal skills to engage with employees and stakeholders. Education • Bachelor’s degree in Human Resource Management, Business Administration, or a related field. Experience • At least 4–6 years of experience in compensation and benefits, preferably in the retail or fast-paced industry. • Experience in handling salary benchmarking, benefits administration, and rewards programs.