Lead - Compensation & Benefits - BFSI/Telecom

Our client, a leading Oil, Gas & Energy Company is looking to hire a Lead - Compensation & Benefits. This person will be looking into end to end Comp & Ben function and will be reporting into Head Comp & Ben. The person should have exposure to job evaluation, compensation benchmarking, designing differentiated compensation structures etc.

Preference for candidates from Banking Setup.

Key Functions:

- To support Head C&B to set the compensation & benefits policies and to ensure fair and accurate compensation to employees including regular salaries and bonuses.

- To manage C&B Processes like the salary planning, Incentive pay-out and employee benefits etc.

- To evaluate each position at the time of hiring and determine competitive offer which is based on internal and external parity

- To support Head C&B in developing, implementing and managing International Compensation adhering to country specific statutory norms

- To support the strategy and business plans of the organization from the perspective of People Cost

- To develop an engaging environment through effective communication to support the Compensation & Benefit function.

- To facilitate an end to end support to the Line Managers in Managing their people through effective HR Systems and Processes

- Oversee and ensure implementation of Job evaluation process which helps the organization to have a consistent work value measurement, common framework and language to design jobs, define career progression, analyse organization structures and more strategically manage Human Resources

- To adopt operational excellence tools and principles that enables HR functions to create value to its internal and external customer by improving HR Policies, Processes, Services, Technology and data.

KEY ACCOUNTABILITIES:

- Compensation & Benefits

- Performance Management Process

- Policies & Procedures

- Internal & External Audits

- HR Operational Excellence

- Special Projects

KEY CHALLENGES:

- Balancing Compensation Budget and Competitive Pay

- People Cost Optimization

- Attracting and retaining top talent is critical to the organization's success, but is sometimes restrained by the budget

KEY DECISIONS:

- Compensation & Benefits Strategy in consultation with Head C&B

- Scope of work, Quality assurance parameters and Technical evaluation decisions on external vendors

Recommendations to superior:

- Inputs on Compensation and Benefit practices in the industry

- Compensation fitment

- Recommend improvements in HR systems & processes for effective implementation

Internal Stakeholders:

1. Business HR Heads

2. Functional/ Department Heads

3. HR Business Partners

4. Employees

External Interactions:

1. Implementation partners

2. Consultants

Functional Skills:

1. Latest Compensation & Benefits concepts, practices and technology trends

2. Labour Laws

3. Corporate strategy and change

4. Good knowledge of SAP

5. Excel

1. Behavioural Skills:

2. Interpersonal Skills

3. Communication Skills

4. People Management Skills

5. Problem solving and analytical abilities

6. Team Work