Purpose of the Role :  Partnering to execute the performance & reward strategies across India and International locations in conjunction with Business HR partners and group leaders. The role covers a mix of operational and strategic aspects of assisting in the areas of Rewards & Performance function in line with the company's visions, values and strategy as well as sound, short & long-term business practices.  RESPONSIBILITIES :  Rewards :  Planning, designing and communicating the company's reward philosophy.  Formalize and institutionalize the key HR processes involving Job analysis and evaluation. Use the results to formalize the structure and pay bands.  Designing and implementing effective and contemporary compensation structures for better administration and employees tax planning.  Formalizing level wise benefit basket, liasoning with external agencies like medical insurance vendors for annual renewals, claims settlements etc.  Understanding all related statutory laws for effective compensation management  Working knowledge or basic understanding of various approaches to International mobility, compensation & benefits, rules pertaining to expatriation & repatriation  Rewards & Recognition :  Partnering with Business and Group HR Leaders in rolling out an effective R&R program cutting across all group intiatives annd inline with the core values.  Use of contemporary practices for implementation and day to management of all related schemes  Planning & Budgeting :  Formalizing the pay planning and budgeting process along with integration with Revenue, Capex and Manpower budgets.  Metrics to track internal equity of salaries and benefits.  Cost control targets: Headcount and employee costs; compensation & incentive costs; cost to hire etc, increment budgets etc.  Carrying out annual compensation reviews/surveys, position/level benchmarking, integrating the data from PMS for the purpose of promotions and upgradations  Market Intelligence & Networking :  Partner with external forums/agencies to bring in best practices knowledge.  Maximise HR expertise in salary negotiations etc.  Benchmarking of best in class policies, employee benefits and HR systems to make it a ""Great Place to Work"" especially regarding the company's reward practice.  Operations & Governance :  Providing day to day support on matters pertaining to policy interpretation and rewards operations.  Ensuring 100% compliance of all reward practices - internal & external.  Liasoning with the payroll to communicate the monthly advice, log changes, tracking discrepancies.  Payroll advice and monitoring.  Annual Performance bonus calculations and payouts.  Audit and MIS for business  Understanding and providing necessary support in matters pertaining to medical insurance, annual renewals, cost impact, budget implications both for staff & workmen category  Incentives :  Creating an effective Incentive schemes that are commensurate with business objectives (short and long targets).  Performance Management :  Designing the Performance Management Roadmap (MBO/Balanced Score card) in-line with organisation strategy  Providing direction for setting of KRAs/ Goal Setting and execution of Performance Management system.  Implementing PMS Cycle through collaboration with Leadership Team, Designing and Monitoring the succession planning and leadership development.  MBA Full Time is mandatory.

Mumbai

Manager - Performance & Rewards - FMCG/Manufacturing/Industrial/Healthcare/Pharma 

Job Description for Manager - Performance & Rewards - FMCG/Manufacturing/Industrial/Healthcare/Pharma  in Spectrum Talent Management in  Mumbai for (6-12) years of experience. Apply Now!