Compensation and Benefits Specialist

Placements24; Stellenbosch; On-site; ZAR 650,000 - 850,000; Full time

Benefits offered by this job

Competitive salary

Medical aid

Pension fund

Bonuses

Development opportunities

Modern office

Wellness programs

Team events

Paid time off

Job summary

Placements24 in Paarl, Western Cape, is seeking a Compensation and Benefits Specialist to design and manage competitive programs, focusing on salary benchmarking, benefits administration, and regulatory compliance.

You will partner with HR and finance to analyze trends, develop reward solutions, and report to senior management. The role requires strong analytics, Excel proficiency, and experience with HRIS and payroll systems.

Qualifications

• Bachelor's degree in HR, Finance, Economics or related field.
• 3–5 years of experience in compensation and benefits administration with design/analysis focus.
• Strong knowledge of compensation principles, salary benchmarking and benefits administration.
• Solid understanding of SA labor laws and tax regulations relevant to compensation/benefits.
• Proficient in Excel and HRIS systems; excellent analytical and communication skills.

Responsibilities

• Design, implement, and manage the company's compensation structure, including salary ranges, job grading, and incentive programs.
• Conduct regular market analysis and salary benchmarking to ensure competitive packages.
• Administer and manage employee benefits programs (medical aid, retirement funds, life insurance, fringe benefits).
• Ensure compliance with SA labor laws and tax regulations related to compensation and benefits.
• Develop and maintain documentation for compensation/benefits policies and procedures.
• Partner with external vendors/brokers to negotiate and manage benefits contracts.
• Analyze effectiveness of compensation and benefits programs and recommend improvements.
• Prepare reports for senior management on compensation trends, costs and effectiveness.
• Respond to employee inquiries regarding compensation and benefits; provide clear information.
• Collaborate with HR and finance on budgeting, forecasting, and payroll-related matters.

Skills

Analytical thinking

Excel

HRIS

Communication

Attention to detail

Independent work

Education

Bachelor's degree

Tools

Payroll systems

Job description

About the Role

Our client, a prominent financial services institution, is seeking a skilled and analytical Compensation and Benefits Specialist to join their dedicated HR team in Paarl, Western Cape. This role is vital for designing, implementing, and managing competitive and equitable compensation and benefits programs that attract, retain, and motivate employees. You will be responsible for market analysis, salary benchmarking, benefits administration, and ensuring compliance with relevant regulations. The ideal candidate will possess strong financial acumen, meticulous attention to detail, and a deep understanding of compensation structures and benefits offerings. This is an excellent opportunity to contribute to a stable and growing organization that recognizes and rewards its employees. You will work closely with HR and finance teams to ensure that our client's reward strategy supports business objectives and employee well-being. You will analyze trends and develop innovative reward solutions.

Key Responsibilities

• Design, implement, and manage the company's compensation structure, including salary ranges, job grading, and incentive programs.
• Conduct regular market analysis and salary benchmarking to ensure competitive compensation packages.
• Administer and manage employee benefits programs, including medical aid, retirement funds, life insurance, and other fringe benefits.
• Ensure compliance with all relevant South African labor laws and tax regulations related to compensation and benefits.
• Develop and maintain clear documentation for all compensation and benefits policies and procedures.
• Partner with external vendors and brokers to negotiate and manage benefits contracts.
• Analyze the effectiveness of compensation and benefits programs and make recommendations for improvements.
• Prepare reports and presentations for senior management on compensation and benefits trends, costs, and effectiveness.
• Respond to employee inquiries regarding compensation and benefits, providing clear and accurate information.
• Collaborate with HR and finance teams on budgeting, forecasting, and payroll-related matters for compensation and benefits.

Requirements

• Bachelor's degree in Human Resources, Finance, Economics, or a related field.
• Minimum of 3-5 years of experience in compensation and benefits administration, with a strong focus on program design and analysis.
• In-depth knowledge of compensation principles, salary benchmarking tools, and benefits administration.
• Solid understanding of South African labor laws and tax regulations relevant to compensation and benefits.
• Excellent analytical and quantitative skills, with proficiency in Excel and HRIS systems.
• Strong communication, presentation, and interpersonal skills.
• Meticulous attention to detail and a high degree of accuracy.
• Ability to work independently and manage multiple projects simultaneously.
• Experience with HRIS and payroll systems is essential.
• Certification in Compensation or Benefits (e.g., CCP, CBP) is a significant advantage.

Benefits

• Competitive salary package commensurate with experience.
• Comprehensive medical aid with optional supplementary benefits.
• Generous pension fund contributions.
• Performance-based bonuses and annual increments.
• Opportunities for professional development and advanced training.
• A stable and reputable financial institution environment.
• Employee wellness programs and assistance.
• Modern office facilities in a beautiful location.
• Company-sponsored events and team-building activities.
• Significant paid time off.