Rewards Specialist

POSITION PURPOSE:

Manage the Performance and Rewards responsibilities for assigned countries/businesses within India for effective design and implementation of commercial, compliant and business-relevant strategies, policies and programmes, aligned to the overall P&R strategy and policies.

The incumbent will research best practice and keep abreast of legislative and market change to provide expert advice to HR and the business leaders and lead the various projects and regular initiatives under the Rewards domain.

YOUR TASKS AND RESPONSIBILITIES:

• Annual Compensation Review Cycle: Design and program manage the Annual Compensation Review cycle for the responsible countries to ensure complete budget management and timeline adherence. Use statistical methods and techniques to make data-based decisions on various aspects of compensations. Deploy effective communication strategies and success metrics.

• Sales/Productivity Linked Incentives/Variable Pay, Retention, Severance Plans: Manage the annual variable pay process execution through effective coordination with Finance and other internal stakeholders to ensure timely payout finalization with appropriate approvals. Design appropriate solutions to address critical business requirements around employee motivation, retention and productivity enhancement

• Benefits Management: Work with Head Rewards to ensure smooth deployment and maintenance of key employee benefits in different countries. Participate in benchmarking studies to ensure competitiveness of our benefits

• Benchmarking & Market Intelligence: Commission custom surveys and also participate in industry salary benchmarking surveys to determine prevailing pay rates and benefits and analyze these for building internal proposals on salary reviews and policy changes. Conduct ongoing research into emerging trends, issues and best practices.

• People Policy Framework: Develop a comprehensive policy framework covering all elements of an employee lifecycle in the organization. Ensure adherence to the published policy documents across the organization. Conduct periodic audits and prepare reports. Assess the effectiveness of policies and processes and proactively recommend new and innovative approaches and solutions.

• International Mobility & Expat Management: Support ongoing expat management for the responsible countries including package determination and compliance requirements Job Evaluations and Grade Structuring Support any special projects in job grading and Job evaluations as per the organizations policy. Partner with HR and business leaders to maintain an appropriate grade structure and ensure effective governance.

• Performance Management Strategy & Annual PMS process: Support the design and execution of annual performance management process for the assigned business/countries. Act as an SME and guide the HR generalists and line leaders in defining objective business, team and individual level scorecards to strengthen the performance management architecture.

• Design and delivery of manager/employee communication and training on all these initiatives: Develop and execute appropriate communication and training programmes for manager/employee capability building in specific P&R areas to ensure effective implementation and realize improved business performance.

• HR Analytics: Develop and set standards around key HR metrics with focus on analytics around compensation spends and wage management.

• Business As Usual:

• Work with other members in the team to ensure smooth delivery of Rewards services to employees ranging from handling manager queries, partnering with HRBP to support business needs to process promotion and salary increase periodic cycles.
• Manage the implementation of relevant TR & PMS policies and programmes within the business and coordinate the relevant key strategic processes, working through Generalists to interface with the business.
• Maintain expert specialist knowledge by keeping abreast of published materials, competitor practice, external market developments and trends and legislative and regulatory developments.

WHO YOU ARE:

• Qualification & Experience: MBA with post qualification experience (4-8 years from Tier 1 MBA institute) in general HR Consulting and/or internal Performance & Rewards in reputed organizations
• Ability to ideate, design and implement business focused solutions along with the ability to manage BAU operational performance and rewards activities.
• Proven ability to diagnose problems using analytical and strategic thinking skills as well as identify and drive appropriate solutions.
• Deep Analytical ability and comfort with handling and analysing big data.
• Ability to thrive in a fast-paced environment and to navigate leaders through a variety of organizational changes.
• Excellent people skills and strong decision-making skills.
• Strong Customer Orientation

Job location: Sun House, Goregaon East, Mumbai