Head - Compensation & Benefits - Building Material Industry

We have been mandated by a large conglomerate in building material industry for the below mentioned role.

Position Title : Head - Compensation & Benefits

Department : Human Resources

Location : Gurgaon

Reports To : CHRO

Position Summary :

The Head - Compensation & Benefits will design, implement, and manage compensation and benefits programs that attract, retain, and motivate employees. This role requires a strategic leader with a deep understanding of compensation structures, benefits administration, and regulatory compliance.

Key Responsibilities :

1. Job Analysis & Evaluation :

- Conduct thorough job analyses to understand and document job requirements and responsibilities.

- Develop and maintain accurate and up-to-date job descriptions for all positions within the company.

- Implement and manage job evaluation processes to determine the relative worth of each job within the company.

- Utilize job evaluation methodologies to establish fair and equitable compensation structures.

- Regularly review and update job evaluation systems to maintain alignment with industry standards and business objectives.

2. Compensation Strategy :

- Develop and implement comprehensive compensation strategies that align with the company's goals and market competitiveness.

- Conduct regular benchmarking studies to ensure compensation packages are competitive within the industry.

- Design and manage salary structures, incentive programs, and salary increase processes.

- Ensure alignment of compensation strategies with overall business objectives and financial performance.

3. Benefits Administration :

- Oversee the administration of employee benefits programs including health insurance, retirement plans, and other company-sponsored benefits.

- Evaluate and recommend enhancements to benefits offerings to improve employee satisfaction and retention.

- Ensure effective communication of benefits programs to employees.

- Monitor and manage benefits program costs and vendor relationships.

4. Performance Management :

- Collaborate with HR and management teams to integrate compensation and benefits with performance management systems.

- Develop and implement reward and recognition programs to drive performance and engagement.

- Monitor and evaluate the effectiveness of performance management programs and make necessary adjustments.

- Ensure that compensation and benefits plans support the performance management framework and help achieve business goals.

5. Regulatory Compliance :

- Ensure all compensation and benefits programs comply with applicable laws and regulations.

- Keep abreast of changes in labor laws, tax laws, and other regulations affecting compensation and benefits.

6. Data Analysis and Reporting :

- Conduct detailed analysis of compensation and benefits data to identify trends, issues, and opportunities.

- Prepare and present reports to senior management on compensation and benefits metrics, costs, and program effectiveness.

7. Employee Communication :

- Develop communication strategies to educate employees about compensation and benefits programs.

- Address employee inquiries and concerns regarding compensation and benefits in a timely and effective manner.

8. Team Leadership :

- Lead, mentor, and develop the Compensation & Benefits team.

- Foster a collaborative and high-performance culture within the team.

Qualifications :

- Education : MBA/PGDM in HR preferred.

- Experience : Minimum of 10 years of experience in compensation and benefits management, with at least 5 years in a leadership role.

Skills :

- Strong understanding of job analysis, job evaluation, compensation theory, benefits administration, and performance management.

- Proficiency in HRIS and compensation analysis tools.

- Excellent analytical, problem-solving, and decision-making skills.

- Effective communication and interpersonal skills.