A. Purpose of the role:

- Ensures cost efficient and market-driven compensation procedures and standards for all SKF companies in India

- Ensures that the Compensation practices remain in line with the market and the global SKF 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.

This job opening was posted long time back. It may not be active. Nor was it removed by the recruiter. Please use your discretion.