Total Rewards - C&B Lead

Looking for a Total Rewards - C&B Lead for a MNC Organization based out of Mumbai.

Custodian of the firms Total Reward policy and ensure that all Total Rewards initiatives are built on the principles of equity, fairness and market competitiveness, so as to enable talent attractiveness, whilst being aligned to Employee expectations.

Must have technical / professional qualifications:

- Master’s Degree in Human Resources- Full time

- Relevant work experience of 7-10 years

- Mastery of progressive Total Reward concepts

- Working knowledge of SAP and other IT Tools that support consistent national deployment of Total Rewards processes.

Key accountabilities and decision ownership:

- Design and deploy Total Reward policy, in line with Group Total Rewards standard. Ensure tight Governance by measuring and increasing compliance to policy, statutory and regulatory norms for FTEs and Associates’ Compensation & Benefits.

- Design the roadmap for Annual Rewards Review, communicate the agreed framework and implement the campaigns as per committed timelines, within Budgets to ensure motivation of internal employees and attractiveness for external Talent.

- Design the Mid / Annual Promotion framework, communicate the same through the PMS framework across all stakeholders and implement as per committed timelines, within Budgets to ensure acceleration of top talent career progression.

- Manage Rewards as SPOC with Group so that local market and Group requirements are adhered to.

- Continuously scan the external landscape for changes in the Total Rewards practices as well as ensuring market competitiveness of Total Reward portfolio. Formulate the Market Reference Rates for various roles across levels and guide the Resourcing Teams so as to attract top talent for the Firm

- Design and deploy Total Reward harmonization plans in case of any mergers / acquisitions / insourcing / transfer of employment of tranches of Employees , whilst ensuring business continuity and alignment of core philosophy

- Demystify Total Rewards and help all Employees appreciate the Total Rewards philosophy and how it impacts them. Ensure that Line Managers are equipped to take ownership for their Teams’ Total Reward decisions.

- Spell out steps needed to shape the ecosystem and enable implementation of the Global Reward Tool, keeping in mind nuances of Operating Comm and governance guidelines for execution.

- Forecast, Monitor and Control Reward Spends through an accurate budgeting process and ensure that the outlay for rewards is well adhered to at every level

- Improve the quality of promotions by expanding beyond the framework and generate insights that can improve the decision making

Key performance indicators:

- Increase in People Survey Scores on fairness and transparency and relevant satisfaction scores in Rewards

- Compliance within Budgeted Reward Spends during ARR and Mid-Year Promotion Cycle

- Coverage and certification of all Line Managers in Total Reward Capability building modules

- Closure of all Reward and Promotion campaigns within timelines as per defined calendar

- Compliance to Group Reward standards

- Compliance to Indian statutory and regulatory norms wrt Rewards