Compensation & Benefits Consultant - Pharma

JOB DESCRIPTION

Essential Function:

Consults and advises HR and Business Leaders regarding compensation policy interpretation, new hire offers, promotions, market analysis, job evaluation, retention, compensation projects, benefits plan and International Mobility for the organization and ensures compliance with government regulations.

Relationships:

Reports To - Local HR Director, Compensation Director, Benefits Director as appropriate.

Directly Supervises - None

Provides Work Direction to - None

Works Closely with - Works Closely with Corporate Compensation, Global HR Team, particularly HR Operations, HR Systems Team, Procurement, Payroll and Benefits Departments

External Relationships - Salary Survey Groups, Compensation and Benefits Providers/Consultants, International Mobility Suppliers, HR Contacts in other CROs, Pharmaceutical Companies and other Industries

Key Accountabilities:

- Provide ongoing support, communication, consultation and education to the business line and HR colleagues and employees about job evaluation, market pricing, compensation philosophy, compensation processes benefits strategy, medical plan pricing & vendor analysis on benefits

- Assist with annual job matching and market pricing for jobs within assigned region and/or business unit(s) and assigned job families; applying job evaluation techniques to establish equitable compensation rates based on internal and external information; and assisting and/or supporting the implementation of global and/or local compensation programs

- Provide consulting, analysis, evaluation and implementation of new or existing incentive & benefits plans

- Conduct necessary ad-hoc market analysis for Compensation and Benefits; provide HR and business line with necessary feedback and guidance

- Work with Corporate Compensation Team to ensure participation for key compensation & benefits surveys; coordinate selection of surveys appropriate to business needs

- Provides assistance as required to the corporate team on any of the following annual processes, may be asked to take leadership role

- Focal Review and Rolling Plan processes: delivers training and communication tools, ensure appropriate deadlines are adhered to, coordinate systems and processes, serve as Point of Contact for assigned region and/or business unit(s)

- Annual market evaluation: benchmarking and analysis; make recommendations for pay changes and provide recommendations for setting annual salary budgets

- Incentive Plan Administration: ensure data is accurate in calculation tool(s) for respective plans; provide analysis to Regional and/or Business line and HR leadership, evaluation and implementation of existing or changes in plan design, documentation and training.

- Global Holiday Calendar ensuring the office close dates are known and implemented into the various Corporate Systems

- Calculation of Fringe Rates working with local HR, Payroll, Tax advisors to determine any change to Fringe rates. Lead country specific annual benefits, including work with brokers on plan design, working with Business and Local HR to determine appropriate recommendation, and working with Corporate Benefit Team for approval and implementation of changes.

- Participates in compensation, benefits projects and initiatives as necessary

- Prepares reports and analysis to support projects, communication and training

- Provide support and guidance for data integrity, compensation decision processes, benefits decision process, communication of decisions to HR and employees

- Maintain a positive, results orientated work environment, building partnerships and modeling teamwork, communicating to the team in an open, balanced and objective manner

- Acts as final escalation point for local employee benefit queries

- Manages the identification and review of potential new benefit and the implementation thereof

- Manages in the identification and review of potential new local benefit systems and the implementation of purchased systems

- Provides advice and recommendations to business, payroll and HR on International Mobility

- Works with Corporate International Mobility to ensure local requirements are fulfilled by Global policies.

Skills

- Thorough knowledge of compensation & benefits practices and philosophy (job analysis, market pricing, market analysis)

- Able to explain complex concepts in clear understandable terms

- Must have statutory knowledge of compensation and benefits and tax regulations

- Able to synthesize information from different sources to arrive at sound inferences

- Uses available data to develop different scenarios showing the future impact on the business

- Maintains a long-term big picture view

- Strong HR systems knowledge and demonstrates proficiency with project management and problem solving abilities is key

- Advanced excel skills (data modeling including vlookups is the minimum standard)

- Database management and development

- Excellent interpersonal, verbal and written communication skills

- Client focused approach to work

- A flexible attitude with respect to work assignments and new learning

- Ability to manage multiple and varied tasks with enthusiasm and prioritize workload with attention to detail

- Ability to work in a matrix environment and to value the importance of teamwork

Education

Requires a bachelor's degree in a related area or equivalent experience

Language Skills

- Fluent in English (speak, read, write).

Minimum Work Experience

- The ideal candidate should have Compensation & Benefits professional experience with at proven experience in the field or in a related area

- Experience in a global, matrix environment

- Experience providing support and guidance to a geographically distributed workforce and/or HR Business Community

- Experience in the pharmaceutical, biotech or medical devices industry is a plus.

PLEASE SHARE YOUR RESUME ON hemanth@prodigyconsulting.net