Founder & Principal Associate at rFactor Consultants
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Senior Manager/Lead - Compensation & Rewards - XLRI/TISS/MDI (7-12 yrs)
Role Overview :
Reporting to the Head of HR, the incumbent will be responsible for Workforce and Compensation Planning/ Budgeting, and Human Capital Spend Management for the company besides the reward and Recognition. S/he will also be responsible for driving the Rewards & Recognition program for the 3 BUs of the company.
Key Responsibilities :
Compensation & Budget Management :
- Build and manage organization resourcing plans in conjunction with internal requirements and external benchmarks
- Roll out productivity benchmarks & metrics for the organization in line with best practices
- Propose effective org structures balancing immediate needs with a long term outlook
- Manage the annual and mid-year budgeting process across all human capital cost buckets, such as, headcount, compensation, talent & other HR programs and provide proactive visibility to cost & headcount run rates periodically.
- Develop relevant people analytics and metrics and provide visibility to key insights that impact the organization in the long term. Regularly report to HR Head on the same.
- Deliver the Organization's Pay for Performance strategy, ensuring upto date and effective mix of fixed and variable compensation plans for sales and non-sales across levels
- Proactively review and recommend improvements to incentive plans based on market benchmarks and internal reward objectives
- Lead job levelling exercise to ensure that all Company positions are sized correctly against the market as well as internally for compensation & promotion purposes
- Launch a Reward & Recognition program for the organization and ensure success and usage
- Proactively recommend other incentive plans such as LTI and other cash based retention plans
- Develop external market insights to strengthen our existing compensation programmes and practices, and launch new ones
- Aside from the above core responsibilities, the incumbent will be expected to support other aspects of company's people philosophy and contribute to relevant strategic initiatives of the HR function with a goal to make company the best place to work. S/he must be a strong, effective team player.
Qualifications & Experience :
- Post Graduate with a specialization in Human Resources from a premier institute
- MNC experience essential. Start Up experience desirable or should have had some independent accountability in HR
- Overall 7-10 years HR experience ; 3-4 years of experience in compensation, rewards, analytics role either with a Compensation Consulting Firm or a well-known Consumer/Logistics company
- Exposure to working in Consulting will be a plus.
Skills & Abilities :
- The successful candidate must be bright, quick, articulate with excellent communication and presentation skills, who possesses independence of thought and opinion to provide candour and honesty to support and influence key decisions
- Strong understanding of Compensation and Rewards concepts, trends and models, with experience of execution of these models including communication and change management
- Strong business orientation and ability to understand the business
- Mastery of MS-Excel and other MS-Office tools, and the ability to distil and draw meaningful trends and analytics from large quantities of data. Must have an obsession for detail and accuracy, with the ability to substantiate recommendations with relevant data-driven insights and metrics
- Must be familiar with various HR technologies and should have experience in building and exporting analytics using technology platforms
- Ability to establish quality relationships, a strong communication link and credibility within the HR team and the business through the highest levels of professionalism, ethics and mutual respect. Must have a demonstrated track record of building functional credibility
- Ability to prioritize and cope with competing demands. Must possess a sense of urgency and excellent execution and project management skills.
- Must be a strategic thinker, with the ability to see the big picture, visualize the future and develop and execute relevant functional strategies which add value to our business. Must be able to navigate ambiguity.
- Must be able to get the job done by working collaboratively with others
- Inquisitive and analytical mind; must demonstrate out-of-the-box thinking; must bring a creative perspective to business problems applying functional expertise, business understanding and common sense.
- Ability to stay connected with the external market with a view to bring best practices and Quality Management Initiatives into the company