~~Job Title: Compensation Partner
Location: Potters Bar
Job Type: Permanent
Why Canada Life?
Canada Life UK looks after the retirement, investment and protection needs of individuals, families and companies. We help to build better futures for our customers, our intermediaries and our employees by operating as a modern, agile and welcoming organisation.
Part of our parent company Great-West Lifeco, Canada Life UK has operated in the United Kingdom since 1903. We have hundreds of respected and supported employees committed to doing the right thing for our customers and colleagues.
Canada Life UK is transforming to create a more customer-focused business by providing our customers with expertise on financial and tax planning, offering home finance and annuities propositions, and providing collective fund solutions to third party customers.
What we’re building
Are you people focused, collaborative and always looking to learn and innovate?
If you are we are ready to welcome you as a Compensation Partner to support the transformation and the future growth of the business within the People Experience function. Our vison is to nurture a high performing organisation, united in purpose and committed to delivering excellence for our customers.
What you’ll be doing
You’ll be responsible for managing all aspects of employee compensation planning for Canada Life providing oversight and technical input to manage and develop the CL compensation offerings of base pay, short term and long term incentive plans (including but not limited to job evaluation, annual salary review, remunerating operating policy, statements, standards and appendices, gender pay reporting, equal pay audits etc.) for Canada Life’s employees in the UK, Isle of Man and Ireland.
In addition you’ll also be responsible for managing all aspects of global mobility for Canada Life UK acting as the “go to” person for all stakeholders (employees, Global mobility team in Canada, external global mobility partners) and to provide support and back up with regard to Pension Scheme administration and share plan administration (both Executive Share plans and All employee share plans).
How you’ll make a difference
•Manage and maintain all annual cycle and BAU compensation planning activities for the company monitoring spend and cost effectiveness of such activities, including the production of MI, to ensure Canada Life UK keep’s abreast of market practice across all jurisdictions (UK, Isle of Man, Ireland) and compensation remains attractive, competitive and communicated effectively to employees.
•Manage Canada Life UK’s salary benchmarking proposition through engagement with 3rd party market data providers across all jurisdictions and through informing and educating the wider HR community in market data outcomes and trends across the company, to ensure consistency and equity in BAU and annual cycle decision making.
•Support the Head of Reward in the production of quarterly HR Committee and company board reporting including preparation of Board Papers , liaison with the Group Compensation and Benefits team in Canada, ensuring Executive remuneration and Solvency II reporting requirements across all locations are met in a timely manner.
•Manage all data and reporting requirements associated with gender pay reports and equal pay audits and disseminate key messages from the data analysis, in partnership with the Talent Development Team to ensure the HRBP team are engaged in data outcomes and are equipped to manage action planning with their relevant business leaders.
•Manage all BAU global mobility cases for Canada Life UK, including liaising with external global mobility partners, the CL tax team, employees and HRBP’s, to ensure proactive and positive management of global mobility programs (such as short term visitor requirements, secondments, short and long term assignments) into and out of the UK, Isle of Man and Ireland so the employee experience is positive and seamless and any risk to CL from tax regulations are minimised.
•Provide proactive support and guidance in connection with executive and all employee share plans, and the delivery of all tasks associated with the company pension schemes (such as Employer Pension Group, the Pension Trustees, the Pension Scheme Administrators) to drive employee engagement at all levels to ensure share plan and pension queries are resolved quickly and effectively and these core benefits are clearly understand by all stakeholders in Canada Life.
•Line manage the Reward analyst to provide support to both compensation and benefit programs in Canada Life, ensuring data analysis requirements are met within the reward team and the wider HR team and the personal development of the individual in this role is maximised.
Who you are
•Experience of working in a specialist compensation role as a subject matter expert within a centre of excellence HR model is essential
•Experience of working with reward mechanisms (short term and long term incentive programs, share programs, pension schemes)
•Understanding and experience of the Willis Towers Watson job evaluation process including GGS
•Experience of introducing different compensation mechanisms to connect performance to reward
•Experience of managing annual salary review processes
•General experience and understanding of benefits management with particular regard to pensions schemes and pension administration.
•Strong analytical and numerical skills
•Intermediate to Advanced user of Microsoft office – Excel, Power point and Word
•High attention to detail
•Previous experience with an HR system – ideally SAP Success Factors
•Able to conduct independent research into new compensation proposals presenting back fully costed proposal for sign off and implementation.
•Able to manage a range of projects and activities effectively using project management skills
•Able to draw on strong emotional intelligence to enable an effective and positive partnering approach to colleagues and stakeholders
•Able to work within a virtual team, with colleagues and stakeholders spread across multiple locations
•Strong delivery and customer focus
•Proactive and self-reliant
•Strong relationship management skills / ability to network and maintain industry contacts
•Communicates clearly and effectively across all levels of employee
•Bachelor’s degree or relevant experience in an HR specialist topic.
•Membership status of the CIPD
•Completion of or aiming to complete Reward Management Certificate (or some modules thereof)
What makes it great to work here?
As a Canada Life UK colleague, you’ll receive:
•A competitive salary
•Comprehensive reward package including,
•Private medical insurance
•A generous pension and bonus scheme
•Support for personal and professional development
Canada Life Celebrates Diversity
Canada Life is committed to a diverse and inclusive workplace. Our role as an employer of choice is to provide the right environment for talented people to do their best work, by respecting, understanding and valuing individual differences.
Employee-led groups are active in helping the workplace engage on a range of topics including: BAME, Diversity and Inclusion as well as Sustainability.