HR Head - Rewards - Pharma

Position : Head - Rewards

Department : Human Resources

Job Location : Mumbai

Reporting to : Head - Performance & Rewards

Job Description :

Accountability Cluster :

- Formulate the Rewards philosophy of the company with a view to ensure that the best talent is attracted and rewarded.

Major Activities / Tasks :

- Define Global Rewards philosophy in consultation with Key Stakeholders - Business & HR Leaders.

- Design and Implement Global Rewards Framework drawing linkage to Overall Business & HR Strategy, Talent, Performance & Engagement agenda of the company.

- Reward the behaviors that drive the results.

- Leverage various channels of communication to create awareness and build capability among HR colleagues and employees around Rewards.

- Continuously liaison with external agencies and consultants to ensure that benchmark information on the compensation positioning and other parameters of compensation are collected and updated on a regular basis.

- Partner with External Consultants to keep track of changing demography in terms of Rewards practices globally and implement the practices as per Organizational need.

- Enhance Capability Building within the Compensation Team and develop expertise in-house through various initiatives and internal/external forums

- Roll-out of Annual Compensation revision and performance bonus pay-out for all the employees.

- Collaboration with external reward consultants to present annual Increase proposal linked to Regional Market Trends, Company Performance and Approved Budgets

- Collaboration with Business & HR leaders to present proposal for Performance Bonus Payout in line with Company, Business & Individual Scorecards

- Roll-out of Annual Increase and Performance Bonus Payout for all employees within agreed timelines

- Propose the Human Capital Annual Budgets for the Company and Respective Businesses for the financial year in collaboration with Head - P&R, Business Heads, & Management Council

- Create a Monthly Dashboard on Manpower Budget and highlight deviations (if any) from Approved Budgets to respective Businesses

- Generate all Company and Business level Cost metrics & analytics to enable respective Leaders & Businesses in key decision making

- Suggest Organization wide cost saving initiatives basis review of existing practices and policies

- Measure return on People Cost

Process Streamlining : Review and introduce Guidelines as per the business requirements (ex. Guidelines on Salary correction, promotional increment, joining bonus, retention bonus, campus salary etc.)

- Review and Introduce Process improvement guidelines pertaining to Rewards from cost perspective

- Simplification of various Rewards processes and ensuring smooth communication of the same to Business/HR leaders

- Design & implement various Short term & Long term incentive plan for various level to ensure retention of critical talent and high performers.

- Review the STI & LTI Schemes and ensure alignment with Market Trends while ensuring legal & tax related local compliances

- Propose STI plan to be linked to Company, Business and Individual Scorecards

- In Collaboration with Head - P&R and CTO, ensure availability of a diverse talent pool through mobility in various Geographies and Business entities

- Prepare an Integrated Global Mobility Strategy aligned to Overall Business & HR strategy

- Review and Introduce Process improvement guidelines pertaining to Mobility Policies (e.g. Business Travel, Short term International Assignment, Long term International Assignment, Localization, Repatriation)

- Prepare a governance framework for statutory compliance in countries of presence.

- Propose a country wise benefits chart in countries of Expatriate presence.