Senior Executive - Performance Management, Rewards and Analytics

Senior Executive – Performance Management. Rewards and Analytics

Union Assurance is a leading corporate and one of the fastest growing entities in the Life Insurance industry backed by the strength and stability of John Keells Holdings PLC, one of Sri Lanka's largest conglomerates. For the 9th consecutive year, the company has received the GPTW certification as a ‘Best Employer Brand,' and in 2020 was awarded the ‘Global Employer Brand’ by the World HRD Congress.

The Job Role:

The person will be responsible to manage the design of performance management system, provide data analysis and reporting support, along with deploying fair, consistent, and equitable compensation and rewards for employees at Union Assurance.

Principle Accountabilities:

• Support in defining the performance management framework and guidelines for the organization
• Responsible for the execution of the performance management system including creation of goal sheets, identifying performance management tools, completion of performance discussions and evaluation, moderation and final communication and payouts
• Develop guidelines and templates to ensure timely implementation and quality of performance management system
• Ensure timely rollout and closure of PMS, provide guidance to business / function heads on interpretation and implementation of the PMS framework
• Define the metrics/KPIs for all functions and individual accountability; ensure a tight linkage and transparency between performance and rewards.
• Update job evaluations & establish evaluation criteria for job evaluations frequently; draw up guidelines for job evaluation
• Partner with HRBPs and the functional leads to conduct job evaluation for roles
• Carry out periodical people productivity analysis like Revenue per employee (RPE), Human capital risk (HCR), Absenteeism rate, Voluntary and Involuntary turnover rate, Training efficiency, Training expenses per employee, Offer acceptance rate (OAR), Time to hire etc. and work with business leaders to arrive at the action plan to improve these metrics
• Analyze and revise job evaluations and grading, develop standards for job evaluation, define evaluation criteria, and carry out routine evaluations
• Conduct comprehensive job evaluations and job mapping exercises to ensure accurate and effective alignment of roles with the organization's rewards framework
• Collaborate closely with stakeholders to understand job requirements, evaluate job descriptions, and conduct JD scoring to determine appropriate job levels and compensation structures
• Analyze market trends, industry benchmarks, and internal data to make data-driven recommendations for competitive and equitable compensation packages
• Ensure confidentiality is maintained of sensitive HR information and adhere to ethical standards in data analysis and reporting
• Collaborate with external experts to assist in conducting compensation benchmarking studies and evaluate the organization's position relative to industry peers on a regular basis
• Adjust the pay scales, compensation rules, or compensation structures on a regular basis
• Create and ensure implementation of a uniform recognition programme for the entire organization to encourage outstanding talent.
• Direct and manage HR initiatives and projects in the areas of performance, rewards, and analytics, making sure they are completed on schedule, within budget, and to a high standard
• Collation of sustainability related information as required and reporting findings.

Qualifications and Experience

• A Bachelor’s Degree from a recognized University in Business Administration/Human Resources or equivalent discipline; A Masters degree will be an added advantage.
• Full/ Part qualification in recognized professional institute will be an added advantage
• Minimum 3 to 5 years overall experience in managing the PMS & HR Analytics and conducting compensation benchmarking.
• Expertise in PMS practices and job evaluation, compensation and benefits also proficiency in data analytics and reporting tool.
• Excellent analytical, Problem solving and attention to detail.
• Strong adaptability, work under pressure and capacity to work in fast-paced environments.
• Ability to work independently and in a team-oriented environment.

The selected candidate for the above position will be entitled to an attractive remuneration package. Applicants who are interested are encouraged to apply on or before 17th October 2024