Head - Compensation & Benefits - Manufacturing Firm

Compensation & Benefits Head - Kolkotha (15-18 yrs)

Roles & Responsibilities :

Reporting into CHRO :

1. Compensation & Benefits :

- Be Responsible for building the strategy for C&B and aligning it to the C&B Policies of the organisation.

- Overall planning of compensation ; Budgeting or forecasting program manage compensation planning for Compensation Globally and ensuring inputs to relevant finance teams to build rate cards

- Designs pieces of complex compensation programs resulting in significant and long term changes to the company's compensation offerings and policies ensuring optimal budget utilization.

- Oversees the implementation of specific components of complex and large scale compensation initiatives ensuring appropriate implementation in the context of specific business verticals / levels.

- Designs and develops training education and communication materials for the implementation of compensation programs.

- Drives resolution of compensation issues and independently makes recommendation for optimal solution in situations where issue is complex.

- Accountable for market data collection analysis and target development. Ensure market data analysis and recommendations are aligned with the compensation and benefits strategy

- Analyze performance metrics. Provide specialty reporting and data analysis as required to dovetail into the compensation & benefits strategy

- Serves as an SME and advisor to HR and recruitment teams as needed in all aspects of compensation design planning and administration processes and counseling on customization of programs at a local level.

- Applies comprehensive functional knowledge in compensation and serves as a senior resource providing guidance to less experienced team members.

- The person will need to create and update compensation databases from several sources to have ready data available for common skills hired in client organizations and have a methodology to quickly update data on positions that are unique

- The person in the role will be expected to engage with leadership level stakeholders on all rewards aspects

2. Create and implement a Total Rewards Framework :

- Work in close collaboration with business leadership and human resources partners to influence, develop and implement appropriate total rewards initiatives to ensure a competitive market position.

- Perform analytics on internal and external equity, benefits & incentive effectiveness, increment impact, etc.

- Perform Job Benchmarking Study across Organization.

- Ensure Compensation & Benefits Policies are in compliance with current legislation.

- Develop a consistent compensation philosophy in line with work culture and organizational objectives.

- Conduct ongoing research into emerging trends, issues and best practices. Drive innovation based on the same.

Key Skill Set :

- In-Depth Knowledge on Compensation and Benefits practices and regulatory & statutory requirements in manufacturing sector specifically

- Strong knowledge and understanding of HR C&B practices,

- Should be abreast with latest HR trends, best industry practices etc.

- Should consider HR as a Strategic partner, have a positive attitude and have a keen interest to bring in positive changes

- Leveraging the HR function by process improvement, new initiatives

- Excellent at Stake holder management - Senior Management, external and internal

- Business acumen: Good business sense and judgement reflected in key decisions made

- Problem-solving: Well-honed analytical and problem-solving skills. Creative, risk-taking and a results-oriented mindset

- Influencing: Communicates with impact. Uses tailored communication and creates authentic and trusting relationships to influence clients, especially related to organizational planning & design.

- Leadership: Demonstrated ability to accomplish work through others, including leading project teams. Demonstrated experience in initiating and leading change, including modelling the importance, motivating others, managing the key drivers of change, and overcoming obstacles

- Self-Management: Self-directed work style, able to work autonomously with minimal direction and deliver results with customer service skills, action-oriented, operates with a sense of urgency.

- Demonstrated ability to prioritize and manage multiple projects simultaneously

- Flexible: Demonstrated career flexibility and adaptation skills (e.g., successful industry or company changes with a minimal learning curve; cross-cultural experience and flexibility if dictated by the scope of organization)

- Collaborative: Reaches across boundaries internally and externally to develop an extensive network of partnerships. Experience in a global, matrix management structure, and working with a virtual workforce. Ability to manage a complex set of stakeholders

PREFERRED QUALIFICATIONS :

BASIC QUALIFICATIONS : M.B.A. with HR specialization or master in the relevant field from an institute of repute

YEARS OF EXPERIENCE :

- ~16 to 18 years of progressive experience in HR (Performance and Rewards leader, HR Business Partner or generalist with involvement in Performance & Rewards, Digital HR, change management, process improvement, compensation, with exposure to high performing organizations, including best practices in HR) , with not less than 10 years in C&B , including 5-6 years min in manufacturing

- Strong Digital and Analytical skills, Exposure to LTI Schemes and Programs Prevalent.

- In-depth knowledge of business management concepts and practical applications gained through cross-functional business experience and business administration.