Manager - Global Compensation - Manufacrturing/FMCG

The role of the Compensation Lead is to provide cross-divisional Compensation solutions and services to HR customers - primarily to the HRBPs and Managers in countries - against an agreed Service Level Agreement.

1. Customer Focus and Quality Improvement are integral to this role. The role is accountable for delivering following Compensation Services:-

2. Annual Benchmarking & Salary Range Development

3. Annual Compensation Review Cycle

4. Experience in deploying Annual compensation review cycle, Bi-annual variable payout cycle, Promotions/Progression and Role change exercises.

- Establishing pay for performance culture by designing and implementing compensation plans and policies in line with business context, group guidelines and market trends.

- Responsible for Annual Increments & Bonus calculations and pay-outs - including identifying employees eligible for increments & bonus based on the guidelines set and analyzing budget verses Actual Pay-out.

- Act as an SME on Compensation & Benefits for all key stakeholders

- Compensation and benefits due diligence and transition during mergers & acquisitions.

- Providing compensation fitments and offer recommendation

- Establish best practices in the area of C&B, rewards and wellness in line with market and country standards

- Continuously work on optimizing benefits cost and enhancing service levels.

- Act as SME for job evaluation for role changes and resultant revisions in employee benefits

- Work closely with Shared Service HR lead to design and deliver retention plan/schemes

- Work on executive compensation plans and propose solutions

- Employee Communication: Ensuring timely closure on release of individual employee communication/letters with respect to each of the above-mentioned programs.

- Budgeting: Have extensively worked on building various increment models and budget models for various compensation programs including the recent org-wide variability restructuring exercise.

- Lead and manage budgeting exercise for Salary Review process

- Policy Formulation: Revisiting old policies and revising the same as per the changing business needs and feedback.

- Analytics/Metrics/Reporting: Collating various data related to HR processes and programs by coordinating with stakeholders.

- Analyze this data and prepare various status reports/dashboards.

- Audits & Compliance: Tracking compliance for respective processes and programs, flag off any deviations and propose recommendations to address gaps.

Benchmarking:

- Salary Benchmarking across industry for mapping job roles and designing pay ranges

- Analyse Market Data from Compensation & Benchmarking Surveys and recommendations on Compensation Structure, Salary, and Internal Parity Vs Market Competitiveness.

- Conduct reviews of current base salary levels and propose salary changes based on job analysis, internal salary data and external market data

- Compensation Surveys - Participation in Compensation Surveys (US, Europe and Asia)

- To lead the Compensation Surveys and interpret its results

- Liaison with the consultant for job matching and position mapping

- ESOPs: Design, execution and communication of Employee Stock Option Plans