Lead - Compensation & Benefits - BFSI/Telecom (6-10 yrs) - Mumbai, India - iimjobs

    iimjobs
    iimjobs Mumbai, India

    2 weeks ago

    Iimjobs background
    Full time
    Description
    Our client, a leading Oil, Gas & Energy Company is looking to hire a Lead
    • Compensation & Benefits
    .

    This person will be looking into end to end Comp & Ben function and will be reporting into Head Comp & Ben.

    The person should have exposure to job evaluation, compensation benchmarking, designing differentiated compensation structures etc.

    Preference for candidates from Banking Setup.


    Key Functions:

    • To support Head C&B to set the compensation & benefits policies and to ensure fair and accurate compensation to employees including regular salaries and bonuses.
    • To manage C&B Processes like the salary planning, Incentive payout and employee benefits etc.
    • To evaluate each position at the time of hiring and determine competitive offer which is based on internal and external parity
    • To support Head C&B in developing, implementing and managing International Compensation adhering to country specific statutory norms
    • To support the strategy and business plans of the organization from the perspective of People Cost
    • To develop an engaging environment through effective communication to support the Compensation & Benefit function.
    • To facilitate an end to end support to the Line Managers in Managing their people through effective HR Systems and Processes
    • Oversee and ensure implementation of Job evaluation process which helps the organization to have a consistent work value measurement, common framework and language to design jobs, define career progression, analyse organization structures and more strategically manage Human Resources
    • To adopt operational excellence tools and principles that enables HR functions to create value to its internal and external customer by improving HR Policies, Processes, Services, Technology and data.

    KEY ACCOUNTABILITIES:

    • Compensation & Benefits
    • Performance Management Process
    • Policies & Procedures
    • Internal & External Audits
    • HR Operational Excellence
    • Special Projects

    KEY CHALLENGES:

    • Balancing Compensation Budget and Competitive Pay
    • People Cost Optimization
    • Attracting and retaining top talent is critical to the organization's success, but is sometimes restrained by the budget

    KEY DECISIONS:

    • Compensation & Benefits
    Strategy in consultation with Head C&B

    • Scope of work, Quality assurance parameters and Technical evaluation decisions on external vendors

    Recommendations to superior:

    • Inputs on Compensation and Benefit practices in the industry
    • Compensation fitment
    • Recommend improvements in HR systems & processes for effective implementation

    Internal Stakeholders:

    • Business HR Heads
    • Functional/ Department Heads
    • HR Business Partners
    • Employees

    External Interactions:

    • Implementation partners
    • Consultants

    Functional Skills:

    • Latest Compensation & Benefits concepts, practices and technology trends
    • Labour Laws
    • Corporate strategy and change
    • Good knowledge of SAP
    • Excel

    Behavioural Skills:

    • Interpersonal Skills
    • Communication Skills
    • People Management Skills
    • Problem solving and analytical abilities
    • Team Work