Head - Performance Management & Compensation & Benefits - FMCG

Head- Performance Management & Compensation and Benefits (FMCG)

Head Performance Management & Compensation and Benefits

Reporting to: GM HR

Location: Mumbai

CTC: 40-50 Lacs

Role Purpose:

Calibrate and implement the performance management system across the Non- Sales vertical to enable a performance culture implemented through a revised performance management system

Key Responsibilities:

Planning and Strategizing:

- Understand the business needs and strategy of the organization to incorporate the same in the performance management process.

- Develop the Performance philosophy of the organization and plan revamping or improving the performance management system from time to time

- Recognize and monitor external marketplace trends and adjust overall PMS strategy to ensure the continued ability for talent retention and business partnering

- Spearheading the entire gamut of C&B benchmarking; formulating functional strategies as well as preparing budgets/policies & procedures to support C&B infrastructure.

- Conceptualize & Implement various Rewards & Benefits programs such as Base pay, Incentive pay STI & LTI, Joining or Retention Bonus Schemes, Health and Retirement Benefits etc, that are suitable for the organization.

Policy and Process Design, Implementation and Review:

- Plan, design, and implement new and innovative performance management processes - technology, metrics, feedback, capability building, etc. to ensure the best performance

- Lead the performance management agenda by driving Performance Management, and reward program associated with the process.

- Design Annual Performance and Development Review and Rewards programs and policies, including governance and metrics design

- Project manage the performance assessment including liaising with other HR teams where necessary, ensuring all deadlines are met and activities are completed on time

- Create career paths for all unique positions from time to time, ensure that career paths are aligned to employee value proposition and industry best practice

- Prepare Proposals to the Remuneration(REM) Committee upon Annual Merit Increases, Pay reviews, - Market Corrections, and Promotion Recommendations.

- Implement Various employee benefits programs such as Company Car, Medical, and Gift Cards with all tax-saving tools for tax optimization and benefit maximization.

- Plan and kick start the Annual Merit Increase cycle along with the HR Operations team

Conduct Job evaluation, Job/Role mapping, and Salary Banding exercises.

Coordination, Interface, Imparting Training to Internal and External entities:

- Act as a subject matter expert on performance management within and outside the organization, answering employee queries on PMS. Ensure that business is kept up to date on PMS status and reviews

- Act as a subject matter expert on performance management / C&B, evaluate emerging trends, technological advancements, and best practices

- Maintain Internal & External Pay Parity, Avoid outliers, and maintain the Rewards program's operational excellence.

Infrastructure and Technology Investment and Management:

- Work with the implementation partner to roll out the Human Resource Management System (HRMS) for hosting the PMS

Key Result Areas (KRAs):

- Manage end-to-end PMS process in Non-Sales vertical- Conduct the annual goal-setting event

- Ensure proper cascading of goals across the vertical, adherence and clearance of mid-year and year-end performance reviews.

- IDP Process- Ensure implementation of IDP projects taken up during the annual goal-setting

- PMS Audits- Ensure that the goals of individuals are set in line with the organizational goals, Audit goal sheets to ensure cascade etc.

- Career Development- Support the design and implementation of career development and performance management program strategies, processes, and tools, Support and maintain high potential talent management program policy, process, procedure, tools, and guidelines.

Authority: Authorized to effectively implement planned actions & thereby evaluate the effectiveness under the defined process planned