Diageo - Compensation & Performance Management Lead (5-7 yrs)
Compensation & Performance Management Lead
TYPICAL ROLE REQUIREMENTS :
Qualification : MBA or Equivalent from Tier I B School
- 5-8 years- experience in HR with minimum of 3 years- experience in C&B
Knowledge & Skills :
- High Analytical / numerical ability
- Productivity Tools like Flowcharts, Swim lanes, Excel/ Office applications
- Excellent interpersonal and verbal communication skills - Must be able to partner/consult with all levels of management
- High degree of results-orientation and ability to execute while multitasking
- Ability to partner across HR to deliver effective compensation and benefits solutions
- Ability to work across functions and influence stakeholders in other functions like Finance, Tax, Legal and Procurement and external vendors
AREAS OF RESPONSIBILITY PERFORMANCE MEASURES :
1. Compensation Strategy & Planning
- Drive development of compensation philosophy in alignment with organization's strategy.
- Lead assessment of compensation structure, pay mix and market positioning and discuss recommendations with HR leadership.
- Design and implement the Flexi Reward Framework across different employee generations ensuring alignment and consistency in rewards policy & framework
2. Compensation Management
- Design Pay Ranges based on reward philosophy and qualitative inputs from compensation benchmarking exercise for both Management and Non-Management
- Guide team to conduct job matching, benchmarking and to develop pay bands.
- Lead annual salary reviews across the organization.
- Review current variable pay plans, analyse market best practices, conduct cost impact analysis and propose design modifications in alignment with the key imperatives.
- Develop monetary and non-monetary employee incentive programs to recognize employee service, safety and special achievements.
- Non Sales Long and Short Term Incentives- Designing of the Non Sales Incentive Policies and execution of the same. Responsible for implementation of LTI policy of the company
3. Policy Design and Review
- Research and analyse salary components, trends and benefits offered by peer comparators
- Responsible for end to end design and management of all employee related benefits and polices
- Design, communicate and continuously improve Rewards policies.
- Provide advisory support in designing special policies for specific BU or employee segment
- Diageo India Highly Confidential
4. Vendor & Stakeholder Management
- Partner with vendor management to negotiate contracts with various vendors and driving enrolment through the Flexible Benefits Program
- Establishes supplier relationships and negotiates competitive service contracts that clearly define performance targets and deliverables.
- Effectively partners with HRBP, internal teams, and integrates the plans and materials, during design &implementation stages
- Design documentation to socialize proposed changes and obtain buy in from HRBPs and management.
- Review, suggest & address any off cycle needs of the HRBP which may be of compensation changes, levelling recommendations, custom market analysis etc.
- Responsible for improving awareness and understanding of reward philosophy and programs across the business HRBP, Staffing and Line Manager teams through various communication channels and development of reward communication tools
- Compile reports, charts, or graphs that describe and interpret inputs from employees, HRBP & management on various reward interventions