People Cost Manager

Key Responsibilities:

• The Manager, Workforce Planning and Cost Management is accountable for overseeing all aspects of workforce-related costs within the organization.
• This role involves planning, forecasting, monitoring, and analyzing personnel expenses to ensure alignment with financial goals and objectives.
• The Manager collaborates with HR, finance, and department heads to optimize workforce efficiency and control costs while maintaining compliance with relevant regulations.
• Budgeting & Forecasting:
• Develop and manage the annual budget for personnel costs, including salaries, benefits, bonuses, and other employee-related expenses across business services centers.
• Forecast future workforce costs based on business growth, market trends, salary increases, and other relevant factors.
• Provide regular updates and adjustments to the budget as needed.
• Cost Monitoring & Analysis:
• Track and analyze actual personnel costs against the budget and forecasts.
• Identify variances and trends in labor costs and provide insights to senior management for decision-making.
• Develop and maintain dashboards and reports for monitoring people-related expenses.
• Workforce Planning:
• Collaborate with HR and department heads to plan workforce needs, including headcount, skill requirements, and training needs.
• Ensure that workforce planning aligns with strategic goals and budgetary constraints.
• Evaluate the financial impact of hiring, promotions, and other HR activities.
• Compliance & Risk Management:
• Ensure that all personnel cost-related activities comply with local, state, and federal labor laws and regulations.
• Manage risks related to labor costs, such as overtime, benefits, and potential fines for non-compliance.
• Process Improvement:
• Identify opportunities to optimize workforce efficiency and reduce costs without compromising quality or employee satisfaction.
• Implement best practices in people cost management and monitoring.
• Lead or participate in projects aimed at improving the efficiency of HR processes related to cost management.
• Collaboration & Communication:
• Work closely with HR, Finance, and department heads to ensure alignment of people costs with business goals.
• Communicate key findings and recommendations to senior leadership.
• Provide training and support to HR and finance teams on cost management practices and tools.
• Target Setting & Monitoring:
• Work closely with Business head of departments, Finance, GBS PMO and global TSC teams to ensure alignment of Global Business Services Targets aligned with business goals.
• Aligning targets and identifying opportunities to optimize costs without compromising quality.
• Required Skills and Qualifications:
• Level Of Educational Attainment Required
• A bachelor's degree in finance, accounting, human resources, business administration, or a related field.
• MBA or advanced degree, professional certifications such as Certified Compensation Professional (CCP), Chartered Financial Analyst (CFA), or Society for Human Resource Management (SHRM) certification are a plus.
• Previous Work Experience
• 5+ years of experience in financial planning, HR cost management, or a related field.
• Experience with workforce planning, budgeting, and forecasting.
• Experience in managing compliance and risk related to labor costs.
• Technical Skills Required:
• Strong analytical skills with the ability to interpret complex data and provide actionable insights.
• Excellent financial acumen and understanding of HR cost structures.
• Proficiency in financial modeling, budgeting tools, and HR software (e.g., SAP, Oracle, Workday).
• Strong communication and interpersonal skills, with the ability to work effectively with cross-functional teams.
• Detail-oriented with strong organizational skills.
• Ability to manage multiple priorities and meet deadlines in a fast-paced environment.