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Reward & Benefits Partner

3 months ago

London, United Kingdom Life Arc Full time

Reward & Benefits Partner

Location: London
Job Type: Rolling Contract (minimum 6 months)

Closing Date: 31 August 2024

Are you passionate about making life science life changing and delivering impact for patients? We want to hear from you.

About the role:

This is an exciting time to join LifeArc as we pursue LifeArc’s ambition to invest up to £1.3 billion by 2030 to transform promising life science ideas into life-changing medical breakthroughs for patients, faster.

LifeArc’s mission is to unlock the potential of scientific research by bridging the translational gap between the early research/discovery phase and the development phase, so that commercial and other partners can progress the next generation of diagnostics, treatments, and cures through the regulatory pathway to patients.

Our work to date has led to four licensed medicines, a further eight potential new medicines in clinical trials, and many new innovative approaches along the translation journey.

Working in a hybrid approach and based out of our London office 3 days a week, this role will work with and alongside the Senior HR Business Partners as well as the wider HR function and senior leaders to help drive forward the people agenda. Reporting to the Chief People Officer, the Reward & Benefits Partner will continue to embed and reinforce all aspects of the Reward agenda translating expertise into operational solutions. The incumbent will provide input into the Reward Strategy as it is reviewed and built on each year.

About you:

  • Deliver reward programmes and initiatives to support key strategies in talent acquisition, retention, and development. Own all policies relating to reward.
  • Custodian of the job grading framework; reviewing and approving all requests for grade changes – support organisation effectiveness in clear role definition and job levelling.
  • Own and embed the Benefits Strategy; supporting the HR Operations team on rollout and implementation of the Benefits program.
  • Own and embed the Recognition Strategy and framework; supporting the HR Operations team on rollout.
  • Own the review of the Annual Incentive Plan; support the HR Operations Team with calculating year-end payouts; provide accruals data to Finance as required.
  • Manage the annual pay review and bonus process end to end.
  • Benchmark reward packages with comparable external best practices to ensure that they are competitive, support the LifeArc strategy, and drive individual and organisation performance.
  • Work closely with the Director of HR and Senior HR Business Partners to embed the Total Reward strategy for LifeArc.
  • Support the Chief People Officer with preparation of Remuneration Committee papers.
  • Responsible for preparing gender and other diversity pay gap, and other pay-related data, reporting in accordance with statutory and best practice requirements.
  • Own relationship with 3rd party suppliers – Benefex, L&G, Lemonade, WTW or survey providers, driving competitive rates/terms for benefits – working with HR Operations.
  • Contribute to the selection and management of 3rd party suppliers including pension, healthcare, and insurance providers.
  • Conduct regular data analysis to ensure that equal pay and any gender pay gap issues are monitored and addressed.
  • Act as a trusted partner for HR and line managers on reward issues, works to build a wider understanding of and skills in reward with HR and managers.
  • Pro-actively drive improvements in processes, including recommending changes to procedures.
  • Set up and maintain agreed standard reports, and provide bespoke reports as needed.

Education & experience required:

  • Bachelor’s degree in business, HR, or relevant field.
  • Experience and knowledge of all aspects of the annual compensation cycle including salary and bonus review, market data collection and analysis, market research, and budgeting for salary increases, pay range development.
  • Experience in selecting and completing the ‘best fit’ salary surveys to provide LifeArc with insightful data.
  • Experience in designing and implementing reward programmes, including developing effective communications for target audiences.
  • Experienced in inputting into Remco papers including carrying out the necessary research to provide context and best practice to support decision-making.
  • IT literate in MS Office (Word, Excel Spreadsheets, PowerPoint and HR & Payroll Systems).

Desirable:

  • CIPD/World at Work GRP Certification.
  • Experience of Performance Management process.

Skills & abilities:

  • Ability to understand, apply and tailor industry best practices around Reward programs to the LifeArc Reward package to ensure market competitiveness.
  • Strong financial and analytic acumen including the ability to leverage and interpret data to extract meaningful insights for informing better Reward package design.
  • Strong knowledge of compensation benchmarking methods, vendors, and market trends.
  • Job evaluation methodologies and application. Excellent written and verbal communication skills; ability to prepare reports and make presentations to Executive Team members and other leaders.
  • Detail-oriented; ability to meet deadlines and to make professional judgement and critical decisions with minimal guidance.
  • Strong interpersonal skills – able to build trusted relationships effectively and quickly in all areas of LifeArc and proven experience working in a Reward role.
  • A hands-on and pragmatic approach.

About us:

At LifeArc, our ambition is to make life science life changing. We do this by advancing scientific discoveries beyond the lab, faster, so that they can shape the next generation of diagnostics, treatments, and cures.

Working at the cutting edge of translational science and as the early-stage translation specialists, we progress scientific discoveries on their journey to becoming a medicine, diagnostic or intervention that improve patients’ lives.

What we can offer you:

Focused on finding life-changing solutions for underserved patients, our people thrive in an inclusive, and supportive environment that prioritises their health and wellbeing. Our multidisciplinary approach guarantees our people growth opportunities, while our culture of innovation and collaboration drives the impact we make delivering on our purpose of ‘putting patients at the centre of everything we do’.

We are dedicated to creating a diverse, flexible, equitable and happy work environment so our colleagues can thrive as their truest selves. We act with courage, curiosity, care & commitment to deliver quality & excellence for our patients and each other. Join us, and you’ll be given the scope to develop your professional skills and experience in a safe, supportive and challenging environment.

Salary will be determined by qualifications and experience along with other exceptional benefits. Because we understand everyone has different requirements, our flexible benefits allow you to choose those which are important to you. Our pension scheme offers employer contributions of up to 12%, private health insurance, and annual leave of 31 days PLUS bank holidays.

Don’t meet every single requirement? Studies have shown that women and people from minority ethnic backgrounds, for example, are less likely to apply to jobs unless they meet every single qualification. At LifeArc we are dedicated to building a diverse, inclusive, and authentic workplace, so whatever your background or lived experience, if you’re excited about this role but your experience doesn’t align perfectly with every qualification in the job description, we encourage you to apply anyway. Our top priority is finding the best candidate, and you may be just right for this or other roles.

We all have potential. At LifeArc, you’ll discover what you can really do with it.

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