Head - Compensation & Benefits - Auto Component Business

Job Purpose:

The Head of Compensation & Benefits (C&B) is responsible for designing, developing, and implementing the organization's compensation and benefits strategy in alignment with the business goals. The role ensures that the company's total rewards programs, including salary structures, benefits, incentives, and recognition schemes, are competitive, equitable, and designed to attract, retain, and motivate top talent within the automotive industry. The position requires a deep understanding of market trends, regulatory compliance, and best practices in compensation and benefits management.

Key Responsibilities:

1. Compensation Strategy & Design

- Develop and execute the company's compensation strategy, including base pay, variable pay, and executive compensation.

- Design competitive and cost-effective salary structures aligned with the automotive industry's standards and benchmarks.

- Oversee job evaluations and job grading to ensure internal equity and market competitiveness.

- Manage the annual salary review, merit increase, and bonus payout processes.

2. Benefits Design & Administration

- Design and implement employee benefits programs, including health insurance, retirement plans, wellness initiatives, and other employee perks.

- Regularly review and benchmark employee benefits against industry standards to ensure competitiveness.

- Lead negotiations with insurance providers, brokers, and other vendors to secure the best terms and services.

3. Incentive & Variable Pay Programs

- Design and manage short-term and long-term incentive programs for various levels of the organization, including performance-based bonuses and profit-sharing plans.

- Work closely with the Sales and Operations teams to design incentive structures for sales and plant employees.

- Monitor the effectiveness of incentive programs and recommend adjustments to maximize employee motivation and company performance.

4. Executive Compensation

- Collaborate with the CHRO and Board of Directors to develop executive compensation packages, including stock options, deferred compensation, and executive benefits.

- Ensure alignment of executive compensation with company performance and long- term business objectives.

5. Compliance & Governance

- Ensure all compensation and benefits programs comply with local labor laws, tax regulations, and employment standards.

- Keep up-to-date with regulatory changes and industry trends to maintain best-in- class C&B practices.

- Provide guidance and governance on pay equity, fair pay practices, and non- discriminatory pay structures.

6. Data Analysis & Reporting

- Conduct regular compensation benchmarking and market analysis to ensure competitive pay structures.

- Use HR data and analytics to identify trends, gaps, and opportunities to improve employee engagement and retention through C&B programs.

- Prepare and present reports to senior leadership on compensation trends, cost analysis, and program effectiveness.

7. Stakeholder Management

- Partner with business leaders and HR Business Partners (HRBPs) to understand workforce needs and design customized compensation solutions.

- Collaborate with Finance, Legal, and external consultants to ensure financial sustainability and compliance of C&B programs.

- Educate and communicate C&B programs to employees to enhance transparency and understanding.

Qualifications & Skills:

- A Master's degree

- Minimum 6+ years of progressive experience in Compensation & Benefits role within the automotive or manufacturing industry.

- Strong understanding of job evaluation methods, salary benchmarking tools, and compensation frameworks.

- Proven experience in designing and implementing large-scale C&B programs, including executive compensation and incentive schemes.

- Excellent analytical, strategic, and problem-solving skills with strong business acumen.

- Strong leadership, communication, and stakeholder management skills.

- Proficiency in HR technology, compensation analysis tools, and MS Excel.

Preferred Industry Experience:

- Experience working in the automotive, manufacturing, or industrial sector.

- Knowledge of labor laws, market practices, and compensation trends specific to the automotive industry.