Develop the most efficient and effective system in finding the right benefits and compensation that will fit employees' needs to help attract potential employees as well as retain and encourage employees in staying with an organization. Responsible for researching, creating, implementing, and appraising the administration, communication of the compensation and benefits program.
1. Development and implementation of the reward strategy to include: salary benchmarking, pension arrangements, benefits management and annual compensation events such as bonus and salary review
2. Manage all compensation and benefits programs, policies and procedures
3. Compliance with all applicable compensation & benefits laws and statutes
4. Management of human resources of the department to have an engaged, competent team and enable a working environment that drives high performance.
5. Design compensation & benefits and policies for the company in India
6. Identify and apply good practices from outside the organization and take regular feedback from within the organization to cater to employee needs
7. Provide subject matter expertise to Business Partners and HRM services
8. Share knowledge across the company by regularly connecting with peers in other business units to share relevant practices to pass along new learning.
9. Develop a consistent structure for analyzing compensation & benefits across the company in India to attract, engage and retain the best talent in the industry.
10. Carryout work measurement (job evaluation), job classification/ reclassification
11. Establish Total Rewards mix to attract, retain, and motivate key talent (holding critical positions / high performers)
12. Direct benefits planning to design and address budget, benefits strategy, staff, contracts, projects, legal requirements, and processing
13. Establish innovative, cost effective compensation & benefits tools and programs to drive business results
14. Plan a corporate wellness program to support employees
15. Studying the market trends, industry reports, inflation rate, other Group companies proposals and analysis of business performance in a FY in order to propose rate of increment & performance Bonus. Validation of the computed bonus & increment
16. Annual increment and bonus rates finalization for the Group companies - Domestic
17. Designing of Compensation pay mix depending on the business lifecycle. (e.g retention / differential pay / project incentive schemes for employees working at green field projects sites)