Compensation Management

Manage the implementation, review and administration of compensation to employees

Type

Domain

Competency Area

Workforce Engagement

Levels

Process data for compensation management

Gather information required to perform compensation calculation

Input data into compensation systems to support processing and calculating activities

Process routine compensation and related administration reports

Disseminate endorsed documentation to relevant parties

Administer compensation to employees

Consolidate information required to perform compensation calculation

Calculate base salary, allowances and other components of compensation in accordance with organisational policies and procedures

Reconcile calculations with compensation allocations to ensure accuracy

Review compensation and related administration reports

Implement annual review cycles as per plan

Deliver reports in the requested formats

Engage authorised parties to obtain approval for payments

Activate payments in accordance with organisational policies and procedures

Update records to ensure accuracy and completion of compensation processing

Implement compensation management processes

Identify legal and regulatory requirements impacting compensation management activities

Align compensation management activities with legal and regulatory requirements

Engage stakeholders to obtain approval on compensation administration procedures

Liaise with organisational departments to obtain compensation information

Verify compensation calculations and documentation to audit anomalies

Resolve issues related to compensation policies and procedures

Formulate plans for annual reviews

Develop processes and systems for gathering data and feedback on effectiveness of compensation programmes

Review current compensation management trends and practices

Recommend improvements to compensation management processes

Develop compensation programmes and processes

Review emerging compensation management trends and processes to understand current job market

Develop compensation structures which reflect

organisation and labour market conditions

Develop processes and procedures which support the compensation structures

Engage key stakeholders to gain commitment and approval on compensation processes and procedures

Align compensation programmes and practices with organisational budgets

Analyse measurement data and feedback to identify potential improvements

Refine compensation programmes, policies and processes