Leader - Rewards - Manufacturing Firm - IIM/MDI/TISS

Rewards Leader for Manufacturing MNC in Bangalore

A. Purpose of the role:

- Ensures cost-efficient and market-driven compensation procedures and standards

- Ensures that the Compensation practices remain in line with the market and the global compensation practices

- Provide analytical support and consultancy to the HRBPs

- Supports preparation and execution of annual compensation processes

B. Responsibilities:

1. Compensation Expertise:

- Provides support based on solid knowledge of compensation-related topics and provides support in preparation and execution of annual compensation processes

- Under supervision, analyzes and monitors market trends to ensure compensation programs are competitive

- Manages the company participation in benchmarking salary surveys and maintains results files as support for compensation analysis requests

- Develop or enhance the compensation programs such as Sales incentive, phantom stock programs etc.

- Good knowledge of statutory laws related to the compensation programs.

2. Compensation Analytics:

- Provides in-depth analytical services on topics such as, internal and external equity cost of labor, pay trends, recommendations on salary packages, salary increase guidelines, etc.

- Conducts job evaluation and grading activities, responding to the evolution of the business and the organization changes, and review benchmark positions accordingly.

3. Compensation Consultancy:

- Consults with human resources business partners and managers on compensation actions to ensure alignment with policy and business objectives.

- Develop and deploy educational/training programs and materials to equip HR partners with fundamental of total rewards to enhance their effectiveness in consulting with managers and supporting key initiatives.

4. Benefit Administration:

- Design a competitive benefit strategy and execute the annual group insurance policies

- Introduce innovative and competitive benefits to attract and retain talent.

C. Metrics:

1. Timely execution of the Total rewards program

2. Increased ROI

3. Higher employee satisfaction

4. Alignment of market and employment laws

D. Competencies:

1. Stakeholder management by acting as credible activist

2. Culture and change champion

3. Total Rewards steward & HR compliance champion

4. Analytical Skills & Attention to Detail

5. Business Acumen

E. Candidate Profile:

1. Ideal candidate is 8-14 years of experience

2. Passed MBA HR from a reputed college preferable from Tier 1

3. Should have Strong analytical and advanced Excel skills

4. Ability to develop recommendations, influence decisions, and communicate the story with insights and trends of compensation data

5. Strong experience managing stakeholder relationships and other partnerships within a global setting

6. Well-versed in India Employment related legislation

7. Excellent written and verbal communication and influencing skills with strong presentation skills