We have been mandated by a large conglomerate in building material industry for the below mentioned role.
Position Title : Head - Compensation & Benefits
Department : Human Resources
Location : Gurgaon
Reports To : CHRO
Position Summary :
The Head - Compensation & Benefits will design, implement, and manage compensation and benefits programs that attract, retain, and motivate employees. This role requires a strategic leader with a deep understanding of compensation structures, benefits administration, and regulatory compliance.
Key Responsibilities :
1. Job Analysis & Evaluation :
- Conduct thorough job analyses to understand and document job requirements and responsibilities.
- Develop and maintain accurate and up-to-date job descriptions for all positions within the company.
- Implement and manage job evaluation processes to determine the relative worth of each job within the company.
- Utilize job evaluation methodologies to establish fair and equitable compensation structures.
- Regularly review and update job evaluation systems to maintain alignment with industry standards and business objectives.
2. Compensation Strategy :
- Develop and implement comprehensive compensation strategies that align with the company's goals and market competitiveness.
- Conduct regular benchmarking studies to ensure compensation packages are competitive within the industry.
- Design and manage salary structures, incentive programs, and salary increase processes.
- Ensure alignment of compensation strategies with overall business objectives and financial performance.
3. Benefits Administration :
- Oversee the administration of employee benefits programs including health insurance, retirement plans, and other company-sponsored benefits.
- Evaluate and recommend enhancements to benefits offerings to improve employee satisfaction and retention.
- Ensure effective communication of benefits programs to employees.
- Monitor and manage benefits program costs and vendor relationships.
4. Performance Management :
- Collaborate with HR and management teams to integrate compensation and benefits with performance management systems.
- Develop and implement reward and recognition programs to drive performance and engagement.
- Monitor and evaluate the effectiveness of performance management programs and make necessary adjustments.
- Ensure that compensation and benefits plans support the performance management framework and help achieve business goals.
5. Regulatory Compliance :
- Ensure all compensation and benefits programs comply with applicable laws and regulations.
- Keep abreast of changes in labor laws, tax laws, and other regulations affecting compensation and benefits.
6. Data Analysis and Reporting :
- Conduct detailed analysis of compensation and benefits data to identify trends, issues, and opportunities.
- Prepare and present reports to senior management on compensation and benefits metrics, costs, and program effectiveness.
7. Employee Communication :
- Develop communication strategies to educate employees about compensation and benefits programs.
- Address employee inquiries and concerns regarding compensation and benefits in a timely and effective manner.
8. Team Leadership :
- Lead, mentor, and develop the Compensation & Benefits team.
- Foster a collaborative and high-performance culture within the team.
Qualifications :
- Education : MBA/PGDM in HR preferred.
- Experience : Minimum of 10 years of experience in compensation and benefits management, with at least 5 years in a leadership role.
Skills :
- Strong understanding of job analysis, job evaluation, compensation theory, benefits administration, and performance management.
- Proficiency in HRIS and compensation analysis tools.
- Excellent analytical, problem-solving, and decision-making skills.
- Effective communication and interpersonal skills.
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