The Performance Management & Compensation Lead is responsible for driving the overall performance management and compensation strategy. This role is pivotal in aligning individual and organizational goals, fostering a high-performance culture, and ensuring competitive compensation practices for a workforce of 1300+ employees across multiple businesses.
The ideal candidate possesses strong analytical skills, strategic thinking, and exceptional stakeholder management abilities.
Key Responsibilities
1. Performance Management:
- Oversee the annual performance appraisal process, including goal setting, performance evaluations, and talent reviews.
- Drive the transition to a new performance management system (SF) and implement process improvements.
- Lead talent development initiatives, including assessment centers and people development forums.
- Partner with leadership to calibrate performance ratings and drive performance-based outcomes.
2. Succession Management:
- Develop and execute a robust succession planning process to identify and develop high-potential talent.
- Build a strong leadership pipeline for the division.
3. Compensation:
- Manage the compensation lifecycle, including salary reviews, short-term and long-term incentives, and benefits administration.
- Conduct compensation analysis and benchmarking to ensure competitive pay practices. Anchor the annual remuneration revision exercise.
- Partner with finance to manage manpower costs and budgets.
4. Manpower Planning:
- Develop and implement effective manpower planning strategies to support business growth.
- Create predictive cost models and identify cost-saving opportunities.
5. Organization Design:
- Ensure organizational structure aligns with business objectives.
- Implement talent management initiatives to build a high-performing workforce.
Personal Profiling
- 3 to 5 years of experience of performance management and/or compensation
- Strong communication and presentation abilities
- Exemplary interpersonal and mentorship skills, with the ability to easily interact with all organizational levels
- Ability to explain complex processes and employee development milestones in a clear manner
- Experience with interpreting performance data and statistics
- Excellent communication, interpersonal, and training skills.
- Proficiency in data analysis and reporting
Preferred Qualifications
- Should have a PGDM / MA in HR from one of these institutes - XLRI, TISS, SIBM, MDI, SCMHRD
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