Senior Manager - Compensation & Benefits/Policies/Rewards - FMCG/FMCD

Sr. Manager-Compensation & Benefits, Policies, Rewards

Presently this role is for Sr. Manager-Compensation & Benefits, Policies, Rewards based out at Corporate Office, Ahmedabad.

Zydus Corporate Park

Plot No. 103, Nr. Nirma University, Mouje - Khoraj, Sarkhej - Gandhinagar Hwy, Ahmedabad, Gujarat 382481

5 Working days + 2 alternate Saturdays.

Job Description:

Functional Reporting: Head -HR Title:Sr. Manager-Compensation & Benefits, Policies, Rewards Location: Ahmedabad

Administrative Reporting: Head-HR

Role Purpose:

- As the Senior Manager of Compensation &Benefits, Policies and Rewards, you will play a pivotal role in shaping and executing our organization's compensation and benefits strategies, ensuring alignment with our business goals and fostering a positive employee experience.

- Your responsibilities encompass a comprehensive range of functions, all aimed at attracting, retaining, and motivating our valuable workforce while maintaining compliance with internal policies and external regulationsThis position is of great importance within the Zydus Wellness leadership team.

Areas Key Responsibilities:

Financial (Business):

- Compensation Strategy: Develop and execute a comprehensive compensation strategy that aligns with business goals, supports talent acquisition, and enhances employee retention

- Budget Management: Plan, monitor, and manage compensation and benefits budgets, ensuring effective allocation of resources to achieve desired outcomes

- Performance Metrics: Establish performance metrics to evaluate the effectiveness of compensation and benefits programs, ensuring they contribute to the organization's financial success

Customer - Employee Engagement: Design and manage compensation and benefits programs that enhance employee satisfaction, engagement, and loyalty

- Market Research: Conduct regular market surveys to benchmark compensation practices and benefits offerings, ensuring competitiveness within the industry

- Communication: Develop clear and transparent communication strategies to educate employees about compensation structures, benefits options, and HR policies

Process - Benefits Administration: Oversee the design, communication, and administration of employee benefit programs, including health, wellness, retirement, and other related offerings.

- Policy Development: Lead the creation, review, and enforcement of HR policies, ensuring alignment with industry best practices and legal compliance

- Data Analysis: Utilize data analytics to analyze compensation and benefits data, identifying trends, opportunities for improvement, and potential risks

- Vendor Management: Manage relationships with external vendors providing services related to compensation surveys, benefits administration, and compliance

People - Team Leadership: Provide effective leadership to the compensation and benefits team, fostering collaboration, growth, and a positive work environment.

- Performance Evaluation: Collaborate with HR leadership to assess the impact of compensation and benefits programs on employee performance, engagement, and retention.

- Change Management: Lead communication and implementation efforts for any changes to compensation structures, benefits offerings, or policy frameworks.

- Training and Development: Provide guidance and training to HR teams and managers to ensure consistent understanding and application of compensation and benefits policies.

Key Interactions:

Internal Nature:

Internal Stakeholders - All functional heads, HR team, Finance department, Legal team, Employees

External Nature:

- Industry research firms, Insurance companies, legal advisors, Regulatory authorities

Key Dimensions:

Team - Direct reports - 1-2 members

Role Requirements:

Educational Qualifications - MBA-HR

Experience (Type & Nature) - 6-10 years of progressively responsible experience in compensation and benefits management, with at least 2-4 years in a managerial or leadership role

- Experience in designing and implementing compensation and benefits strategies, Company policies, and rewards programs.

- Familiarity with HR compliance, labor laws, and regulations related to compensation and benefits.

- Previous exposure to data analysis, market research, and benchmarking in the context of compensation.

- Experience in managing vendor relationships, including benefits providers and compensation survey providers.

Functional Competencies :

- Compensation strategy

- Rewards framework

- Benefits design and management

- Policy development

- Data analysis

- Market research

- Problem solving

Behavioral Competencies :

- Building People Capability - Builds individual/team capability for the future

- Business Orientation - Puts organization first by understanding business impact

- Delivering Excellence - Acts to enhance performance within the team

- Entrepreneurial Decision Making - Proactively identifies and acts on opportunities in the medium-term

- Team Leadership - Provides tactical direction to the team

- Working Across Boundaries - Respects and integrates multiple viewpoints