Cipla - Director - Rewards

Job Description

Accountability Cluster Major Activities / Tasks :

Propose Rewards Philosophy & Framework and Compensation Philosophy for Cipla with a view to create a performance driven culture and ensure that the best talent is attracted and rewarded.

- Proposing Rewards Philosophy for Cipla with a view of having a One Cipla mindset and culture to ensure consistent employee experience across geographies, drawing linkage to Overall Business & HR Strategy, Talent, Performance & Engagement agenda of the company.

- Propose Compensation Philosophy for Cipla in order to ascertain the following:

- Inculcate a strong performance orientation within Cipla through adequate compensation mechanisms

- Promote an effective and holistic approach to compensation - creating a linkage between business growth, people requirements and the compensation system.

- Attract and retain critical skills, talent and people to lead Cipla to success.

- Identify and define various elements of Compensation philosophy like Workforce Segmentation, Target Market, Competitive Positioning, Pay Range, Pay Mix, Pay Structure and Pay for Performance.

Propose & implement Short-term incentive plan (Performance Bonus) to promote a culture of meritocracy, create linkage between Organization, BU and Individual performance in order to reward employees for Individual and Company success across Cipla.

- Design, Review and Revise the STI Plan with clearly defined linkage to Company, Function/Business, and Individual Scorecards.

- Informing HRBPs on the revised scheme from time to time.

- Calculation of Performance Bonus Pay-out for the FY in line with Organization, Business & Individual performance.

- Preparation of FAQ document to help employees understand the pay-out calculation in a holistic manner.

- Propose and Implement Long-Term Incentive Plan (Equity / Cash-Based) to reward and retain senior and critical talent.

- Review of existing ESOPs scheme and propose changes which are in alignment with the Reward Philosophy.

- Propose Cash-based LTIP for Overseas Business.

- Communication to all key stakeholders (MC members, Functional Heads & employees) regarding the changes.

Propose & Roll-out of Annual Compensation revision to ensure the increments are in line with organization performance, budget and compensation philosophy across geographies.

- Propose the annual increment approach and kitty for an FY which is line with the reward philosophy and the manpower budget for the fiscal.

- Finalise the increment grid for different business vertical and group/level in accordance with the increment approach.

- Conduct market research in order to get a perspective of increment trend in industry and pharma sector in India and geographies where Cipla has the presence.

- Align HRBP and Functional Heads on the increment approach, grid for the FY.

- Preparation of FAQ document on Annual Increment to help employees understand the context and approach.

Prepare and Propose CXO & Board Level remuneration for NRC meetings - Continuously liaison with external agencies and consultants to ensure that benchmark information on the compensation positioning is collected and compared to existing internal positions

- Assist in the hiring process of all MC members & Strategic Hiring of Function Head(s) or equivalent role(s) across geographies.

- Prepare deck related to Rewards function for NRC meeting.

- Preparation of Employment / Separation agreement for CXO level.

- Ensure availability of talent through Global mobility framework in various Geographies and Business entities

- Preparation of Secondment offer for employees who are identified for an overseas assignment in line with Long / Short term assignment policy ensuring the offer is fair to employees and fair to the company.

- Assisting employees in the mobility-related matters (work permit, Household shifting etc) through partnering with external agencies and respective HRBPs.

- Inputs to India Payroll team about the stoppage of payroll upon movement and payment of LTA, Leave encashment etc.

- Analyse, Propose and rollout changes in the compensation policies/practices by understanding changing business requirements, while also taking into account market benchmarks and their alignment with Cipla in order to keep Cipla regulatory/legally compliant and aligned with best practices.

- Partner with external compensation agencies for market data around compensation practises / policies, remuneration details for different level and roles.

- Conduct a Market Benchmarking to identify trends and best practices which may be incorporated into rewards processes/policies and make suitable recommendations.

- Conduct periodic review of policies as per business requirement, market benchmarks and propose necessary changes.

- Prepare guideline documents on Joining Bonus, Salary Correction, Currency Fluctuation, Repatriation, Long & Short term International assignment, International Travel etc. while seeking and incorporating inputs from various stakeholders such as External consultants, local HR business partner(s), expat employees.

- Keep all stakeholders (MC members, Legal, Industrial relations, HR SPOCs or other(s) as appropriate) informed and aligned before the rollout of any major change(s) in policy in order to ensure a smooth rollout.

Preferred Qualification

Experience

- Post - Graduate or MBA in Human Resources or its equivalent

- 8 to 12 years of experience in HR with at least 5 years of experience in managing C&B profile in an organization of similar scale.