Consultant at Synergy Consultants
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Manager - Compensation & Benefits - FMCG (8-14 yrs)
Purpose of the role : C&B (70%) + HRBP (30%) :
- Ensures cost efficient and market-driven compensation procedures and standards for in India
- Ensures that the Compensation practices remain in line with the market and the global compensation practices
- Provide analytical support and consultancy to the HRBPs
- Supports preparation and execution of annual compensation processes
B. Responsibilities :
1. Compensation Expertise:
- Provides support based on solid knowledge of compensation-related topics and provides support in preparation and execution of annual compensation processes
- Under supervision, analyzes and monitors market trends to ensure compensation programs are competitive
- Manages the company participation in benchmarking salary surveys and maintains results files as support for compensation analysis requests
- Develop or enhance the compensation programs such as Sales incentive, phantom stock programs etc.
- Good knowledge of statutory laws related to the compensation programs.
2. Compensation Analytics:
- Provides in-depth analytical services on topics such as, internal and external equity cost of labor, pay trends, recommendations on salary packages, salary increase guidelines, etc.
- Conducts job evaluation and grading activities, responding to the evolution of the business and the organization changes, and review benchmark positions accordingly.
3. Compensation Consultancy:
- Consults with human resources business partners and managers on compensation actions to ensure alignment with policy and business objectives.
- Develop and deploy educational/training programs and materials to equip HR partners with fundamental of total rewards to enhance their effectiveness in consulting with managers and supporting key initiatives.
4. Benefit Administration:
- Design a competitive benefit strategy and execute the annual group insurance policies
- Introduce innovative and competitive benefits to attract and retain talent.
C. Metrics :
1. Timely execution of the Total rewards program
2. Increased ROI
3. Higher employee satisfaction
4. Alignment of market and employment laws
D. Competencies :
1. Stakeholder management by acting as credible activist
2. Culture and change champion
3. Total Rewards steward & HR compliance champion
4. Analytical Skills & Attention to Detail
5. Business Acumen
E. Candidate Profile :
1. Ideal candidate is a 8-14 years of experience
2. Should have Strong analytical and advanced Excel skills
3. Ability to develop recommendations, influence decisions and communicate the story with insights and trends of compensation data
4 Strong experience managing stakeholder relationships and other partnerships within a global setting
5. Well versed in India Employment related legislations
6. Excellent written and verbal communication and influencing skills with strong presentation skills