Enabling value addition to the compensation philosophy of the company by designing compensation and incentive plans that ensures a mutually beneficial and rewarding relationship between the employees and the employer.
Design and facilitate in enabling compensation programs and policies encompassing salaries, allowances, incentives, fixed and variable bonuses in order to ensure consistency, market equity, retention and attraction of existing and prospective employees.
Responsible to align job analysis and evaluation system to determine the relative worth of jobs both in terms of value and responsibility with correlation to work scope and job description while evaluating the benchmarking of these jobs with market/industry.
Ensure relevant tools are in place that will enable relevant stakeholders to make correct compensation based decisions, hence, jobs should be periodically benchmarked with up-to-date information against market and industry at all compensation levels
Design and facilitate implementation of competitive salary and benefits structure across different organizational levels.
Assist in development of variable pay (focused at pay for performance culture) and retention schemes which will ensure value addition both in terms of productivity and proficiency of the organization.
Enable implementation of an efficient, transparent and fair salary planning framework.
Monitor and analyze external (market) and internal compensation data to identify compensation trends and demographics which will provide macro level overview on monthly basis to line manager and management on all aspects and factors.Required Skills
- Exception analytical & research skills
- Strong financial skills
- Influencing & interpersonal skills
- Excellent communication & presentation skills.
- MIS skills
- Value driven compensation & variable incentive programs
- Up-to-date market benchmarking of compensation & benefits against jobs.
- Market aligned benefits structure
- Fair & Transparent Salary Planning Exercise
- Formulation & implementation of result oriented
- Compensation & Benefit policies
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