Direct responsibilities - Engagement Management / Work Stream Leadership on projects / Coaching of project teams with respect to the following:
Review of Remuneration Philosophy – Development of appropriate pay philosophy, to address the issue of proper compensation positioning based on the assessment of the company’s operational framework, industry trend, internal pay equity, individual performance, experience and skills scarcity and changes in the target pay market.
Pay Structure Designing - Design of new pay plans / structures for companies that achieve internal equity and flexibility, and are also sensitive to the market and regulatory environments.
Incentive Scheme Design – Development, costing and implementation of short term and long term (equity) incentive schemes for various companies, as well as evaluation and optimisation of accounting, tax and regulatory impact of the incentive schemes.
Remuneration Surveys – Benchmarking of reward packages and research on pay, and HR policies and practices
Merger and Acquisition Support – Development of new remuneration framework to harmonize the remuneration of the employees of the emerging business, and alignment/harmonisation of job grading structures by reviewing job classification system, organisation structure, career progression system etc
Performance Management (Client Facing)
Design of performance management framework based on the balanced scorecard approach, indicating critical Key Performance Indicators (KPIs), performance goals and targets to be used in the performance evaluation process.
Design of performance management tools – performance management procedural manual and appraisal forms
Performance Management (Internal)
Educate employees and management on the application of performance management framework
Organize and participate in Assessment centres for recruitment of staff
Conduct structured interviews for recruitment of staff while ensuring compliance with company recruitment policies
Training and Development
Design, marketing and implementation of training programmes on Rewards Management for Clients, including preparation of Training manuals
Coordination and supervision of induction programs for personnel within Line Department
Payroll Management Services
Comprehensive payroll management services to enable clients focus on their core business. This involves:
Computation of Salaries for Employees on a monthly basis
Computation of Personal Income tax liabilities of Employees
Provide tax planning and advisory services to clients
Sample engagements include:
Compensation Survey - Consumer Market Industry in Nigeria
I acted as the team lead on an engagement to assist a group of companies comprising of 29 companies in Nigeria to conduct a survey of compensation levels. The exercise covered 13 job families and 21 benchmark levels organisations, which comprised the key players in the Consumer Market, telecommunication and pharma sectors in Nigeria.
The compensation data was extensively analyzed using statistical measures, such as percentiles, weighted average, standard deviation, standard (Z) scores, linear regression and correlation coefficient, to determine the competitiveness of pay, based on the relationship between job level, market pay level and organisational size. The project also involved the matching of benchmark positions and levels across the comparator organizations. Analytical and non-analytical systems of job evaluation were utilized, as tools to carry out the correlation of the benchmark positions and levels across the organizations
Development of Compensation Framework for a Telecommunications Company -
I acted as the team lead on an engagement that involved carrying out a comprehensive range of compensation services for a telecommunications company. The project included annual compensation survey, pay structure review and re-design and validation of compensation philosophy
Compensation Survey and Pay Structure Design for an Oil and Gas Company
I acted as the team lead on a project to assist a medium sized multinational oil and gas company to conduct a survey of the Nigerian pay market. The project also involved in designing the pay structure based on the results of the survey and the company’s global compensation philosophy.
Compensation Restructuring Exercise for a Manufacturing Company
I acted as the team lead on an engagement to assist a manufacturing company to restructure its employees’ payroll components to manage their pay-as-you-earn (PAYE) tax exposure, while still complying with the provisions of the Personal Income Tax Act, 2004, as amended (PITA) and the Pension Reform Act, 2004 (PRA). The engagement involved evaluating and proposing compensation restructuring options that were available to the Company under the Personal Income Tax Act.
Equity Based Reward System Design – Financial Services Institution
I was a team memeber on a project to assist a financial services institution in designing an equity based rewards system - employee share option scheme, which was expected to assist the company in creating a culture in which the interest of the employees is aligned with those of the shareholders.
Job Evaluation Exercise for a consortium of Oil and Gas Companies in Nigeria
I acted as the team member on an engagement that involved the evaluation of fifty (50) benchmark jobs in each of the member companies of the consortium. The benchmark jobs included human resources roles, accounting roles and engineering roles amongst others. The job evaluation exercise was carried out on the basis of the point-factor job evaluation methodology.
Performance Management Framework Design for a Nigerian Bank.
I was a team member on a project to assist a Nigerian Bank to design a performance Management framework for all levels of staff including the Executive Management Team. The following activities were carried out:
a. design of the performance management framework based on the balanced scorecard approach, indicating critical Key Performance Indicators (KPIs), performance goals and targets starting from the Executive Management team and drilling down to the division, unit and individual levels.
b. design of two sets of performance management procedural manual and appraisal forms – for the Executive management Team and the rest of the bank.
c. design of variable pay system for the Executive Management Team to ensure that their performance was appropriately linked to payout
Review of Employment Contract for the Executives of a Financial Service Institution in Nigeria.
I was a team member on a project which involved the review of the executives’ employment contract and evaluation of the pay-related terms, in line with leading-edge practices and presentation of the findings/suggestions to the Governance Personnel Committee of the Board
Reconciliation of accounts, raising vouchers