OverviewThis brief outlines the scope and objectives for a Reward Analyst engaged for a six-week period. The analyst will work closely with business units operating under the newly implemented Profit & Loss (P&L) organisational structure. The primary focus is to support the design, establishment, andernance of reward-related processes, ensuring consistency and a unified approach to variable pay models and procedures across the group.Key Objectives
1. Collaborate with business units to understand their requirements and current reward practices.
2. Support the design and set up of robust processes andernance frameworks for variable pay under the new P&L structure.
3. Ensure alignment and consistency of reward processes across the group, identifying areas where standardisation is critical.
4. Establish and document a single source of truth for all variable pay models and procedures, accessible to relevant stakeholders.
Responsibilities
5. Conduct workshops and meetings with key stakeholders from each business unit to gather insights and requirements.
6. Review existing variable pay models, procedures, and documentation for gaps, overlaps, and areas for improvement.
7. Design process maps andernance frameworks that support the new organisational structure, ensuring clarity and accountability.
8. Develop clear documentation and guidance materials for all variable pay processes, ensuring they are centralised and easily accessible.
9. Facilitate training or information sessions to ensure understanding and adoption of new processes across the group.
10. Provide rmendations for ongoing monitoring, review, and improvement of reward processes.
Deliverables
11. Process maps andernance frameworks tailored to the new P&L structure.
12. Centralised documentation repository for all variable pay models and procedures.
13. Summary report highlighting key findings, standardisation opportunities, and rmendations for future action.
14. Guidance and training materials to support process adoption andpliance.
Success Criteria
15. All business units have clarity on variable pay processes andernance under the new structure.
16. Consistent processes implemented where required, with flexibility maintained where appropriate.
17. A single, reliable source of truth for all variable pay models and procedures is established and accessible.
18. Stakeholder feedback indicates improved confidence in rewardernance and process transparency.
#4744012 - Megan Park