Global Reward, Wellbeing

Job Level:

Dir

Position Title:

Global Reward, Wellbeing & Benefits Director

Division or Group Function:

People Function

Country or location:

Applicable Global site/Home

Reports to (position title):

Group People, Team & Organisation Director

Job Purpose

A key member of the Global People Leadership Team. A change agent with deep functional expertise in Reward, Benefits, Wellbeing & Pensions.

Accountable for building and leading the Global Reward, Wellbeing & Pensions Centre of Excellence within the Ricardo People Function. Ensuring a data-driven approach to the provision of a competitive package of employee benefits and practices, plus fixed and variable salary components. A change agent with deep functional expertise in Reward & Pensions; driving process improvement, data utilisation and managing external partnerships, whilst playing a key part in the wider People transformation agenda.

The role has the unique opportunity to shape the CoE globally during a period of growth and change, to define what a world-class function looks like, playing a key role in showcasing Ricardo plc as an employer of choice around the world.

Overall Accountability:

1. Take overall accountability for developing and implementing a highly effective global Reward & Pensions function covering all aspects of compensation, benefits and wellbeing.

2. Support the global People Function Transformation with specific accountability for leading the Global total reward, wellbeing & pensions agenda, enabling the transition to a new operating model, design and deployment of new Reward processes and ways of working.

3. Build trusted relationships across the People function and the business, championing a culture of innovation, collaboration, and continuous improvement.

Reward, Benefits & Wellbeing:

· Lead and develop a team of Compensation, Benefits and Wellbeing specialists, (or lead a service) with a commitment to excellence and best practice​.

· Provide strategic subject matter expertise to matters pertaining to Reward; act in an advisory capacity to Group People Team & Organisation Director, People Director’s, CFO, CEO & People Partners and other senior stakeholders​.

· Conduct market reviews of employee benefits, with data-driven recommendations and approaches​

· Drive increased rigour in the central management of regional benefits, ensuring an improved cycle of market-based review and renewals​.

· Lead & manage the annual salary review (ASR) and bonus planning process, driving a best-practice approach to merit and variable awards, ensuring a seamless and accurate exercise​.

· Conduct a review of variable pay mechanisms, recommending suitable approaches to bonus and sales and commission schemes​.

· Support the business on the establishment of new regional corporate entities, working to establish market-appropriate employee offerings in new locations, delivering harmonization across the group where relevant.

· Partner with the Head of Talent to conduct equal pay audits, recommending corrective action as required across a range of demographics.​

· Partner with the Internal Communications team to ensure appropriate levels of employee awareness and engagement on Reward matters​.

· Work with third party suppliers for compensation and benefits benchmarking data; be the SME within the wider HR community to promote understanding of practices to support development/ growth of the business​.

· Design and implement approaches to employee recognition.​

· Partner with Global Mobility to drive a consistent approach to international assignments and relocations​.

· Design and implement fit-for-purpose metrics, reports and HRIS capabilities​.

· Partner with Digital Transformation on the deployment of new HCM system from a Reward perspective.

· Input and support on ad-hoc projects, including potential M&A due diligence and integration.

· Management of the Flexible benefits programme.

Leadership:

· Build trusted relationships across all levels across the organisation, demonstrating skill in collaborative working – skillfully partnering with business stakeholders and People Function colleagues.

· Lead, coordinate, motivate and develop diverse teams of individuals across multiple locations.

· Effectively establish, maintain and manage strong partnership relationships with all 3rd party suppliers.

· Provide mentorship, guidance and career development to team members and other colleagues within Ricardo.

· An inspirational role model that lives our values and understands the importance of driving the right culture to achieve business priorities.

· A business partner, team player and change agent.

Attributes / Knowledge/ Education / Previous Experience:

Attributes

· A strong fit with Ricardo’s culture; commercial, collaborative, low ego and non-hierarchal.

· Resilient and brave; able to make bold decisions with first class communication and relationship building skills and a good sense of humour.

· Always work collaboratively, actively seeking and responding to business input; engaging all key stakeholders; acting as an enabler/facilitator/coach to establish strong understanding, capability and commitment.

· Will ‘think out of the box’ - continually aware of latest trends in all aspects of the SME areas they are accountable to develop to enable the design and implementation of ‘leading edge solutions’ that energise and engages the business.

· Flexible and adaptable; will thrive in a changing environment, readily deal with ambiguity, cope with setbacks, and always seek solutions (rather than problems).

· Demonstrate a genuine interest in others; adapting your style to ‘get the best outcome’ from every situation/interaction, being aware, sensitive and respectful to different cultural needs.

· Energetic and dedicated, will do whatever it takes to get the job done, building strong and trusting relationships at all levels.

· A confident and articulate communicator with personal presence and gravitas, will effectively influence, engage and challenge to gain understanding and commitment for their agenda.

· Resilience, pragmatism, and solutions-focus when faced with ambiguity.

· A continuous improvement mindset and true knowledge of change management best practice.

Skills & Knowledge

Customer Focus - Is dedicated to meeting the expectations and requirements of internal and external customers; gets first-hand customer information and uses it for improvements in products and services; acts with customers in mind; establishes and maintains effective relationships with customers and gains their trust and respect.

Drive for Results - Can be counted on to exceed goals successfully; is constantly and consistently one of the top performers; very bottom-line oriented; steadfastly pushes self and others for results.

Dealing with Ambiguity - Can effectively cope with change; can shift gears comfortably; can decide and act without having the total picture; isn’t upset when things are up in the air; doesn’t have to finish things before moving on; can comfortably handle risk and uncertainty.

Self-Knowledge - Knows personal strengths, weaknesses, opportunities, and limits; seeks feedback; gains insights from mistakes; is open to criticism; isn’t defensive; is receptive to talking about shortcomings; looks forward to balanced (+’s and –‘s) performance reviews and career discussions.

Functional Skills

· Expertise on global reward mechanisms, including compensation benchmarking, benefit plan designs, and recognition systems.​

· Highly analytical with excellent project management skills​.

· Strong Microsoft Office Suite skills especially in Excel​.

· Strong knowledge of market trends and innovation in Reward.

·

Education or Qualifications

· Degree

Nice to have:

· CIPD Level 7

· Related Degree or post graduate Degree in relevant field.

Previous Experience

· Extensive experience of working in Senior Reward roles in global organisations, successfully leading functions through transformation and change E

· Extensive experience across the full international compensation and benefits landscape​.

· Extensive experience in working within a dynamic fast-paced environment, under pressure with frequent deadlines.

· Extensive experience in partnering and influencing at a senior level C suite level​.

· Fluency in English is a pre-requisite; another language is an advantage but not required.

· Experience working in consulting businesses and or engineering/scientific knowledge workers would be an advantage.

Role Dimensions:

Headcount:

TBC – Reward Team

Accountable OPEX Budget:

TBC

Accountable Headcount Budget:

TBC

Key Interfaces:

Internal:

Global HR Team

Finance

Procurement

Ricardo Executive Committee members

Remco Chair & Board

BU Senior Leaders

External:

3rd Party Suppliers

Government Funding Bodies

Version Control:

Version :

1.0

Changes Made:

August 2023

Date Approved:

August 2023

Approved By:

Mary Moore

Title:

Global People,Team and Organisation Director