Development and implementation from scratch the reward strategy to include: salary benchmarking, benefits management and annual compensation events such as bonus and salary review.
Overall accountability for all policies relating to internal transfers.
Responsibility includes providing and implementing required steps including research to start operations in Gujarat where the company's business presence is not established.
Total responsibility for salary reviews to ensure relevant market benchmarking and consistency of application. This will include liaising with 3rd party suppliers.
Up to date market knowledge will also include current tax implications particularly in relation to benefits and pay.
Manage the design and development of tools to assist HR and Organizational Leadership team in benefits selection, and to guide managers through compensation decisions.
Prepare budgets for HR operations.
Study legislation, market, arbitration decisions, to assess Auto industry trends.
Direct preparation and distribution of written and verbal information to inform employees of benefits, compensation, and HR policies.
Administer, direct, and review employee benefit programs, including the integration of benefit programs following mergers and acquisitions.
Develop methods to improve employment policies, processes, and practices, and recommend changes to management.
Mediate between benefits providers and employees, such as by assisting in handling employees' benefits-related questions or taking suggestions.
Analyze statistical data and reports to identify and determine causes of personnel problems and develop recommendations for improvement of organization's personnel policies and practices.
Design Incentive programs aligned to drive required business behavior.
Set compensation and benefits policies keeping in view the cost to company, internal equity, external competitiveness, Industry dynamics and business demands.
Responsible for setting up and tracking the compensation budget in the organization.
Conduct yearly salary surveys, analyze results, recommend salary ranges and summarize market trends.
Balance different compensation components based on Industry standards and employee satisfaction.
Designs the basic compensation structures in the organization (grading system, job evaluation system, job description policy, promotion policy, etc) aligned with the corporate culture and the corporate values.
Coordinate compensation processes like the salary planning, bonus and incentive schemes development.
Approve exceptions in the compensation of individual employees if required.
Train HR Business Partners and line managers in the area of compensation (pay-mix training, etc)
Must be a full time MBA from a Premier Institute with atleast 8 10 yrs experience primarily in compensation & Benefits domain.
Proven track record of developing the entire Compensation & Benefits policy from scratch and implementation of the same would be a great advantage.
Ability to establish the pivotal role of C&B in the HR Value chain of the organization.
An Added advantage would be given to the candidate who has been able to set up the Compensation and Benefits in an Auto OEM/ Large MNCs and administering compensation and benefits programs that has maximized employee hiring, retention and satisfaction levels.
Thorough understanding of C&B needs, especially with regard to competitive compensation and benefits administration.
Excellent analytical skills. Strong written and oral communication skills.
Excellent MS Office skills (MS Excel, MS PowerPoint).
Strong Time Management skills with the ability to work under pressure and under tough deadlines.
Exposure in Compensation process in HR Consultancy process preferred.