Vice President - Compensation & Rewards - FMCG/BFS (6-20 yrs)
1. Overall Planning of compensation - Budgeting & forecasting; ensuring inputs to relevant finance team & group for country budgeting on compensation
2. Design pieces of compensation programs, resulting in significant and long-term changes to the company's compensation offerings and policies insuring optimal budget utilization
3. Oversees the implementation of group compensation initiatives ensuring appropriate local implementation in the context of global guidelines
4. Design and develop training education and communication materials for the implementation of global or local compensation programs
5. Applies comprehensive functional knowledge in compensation and serves as a senior resource providing guidance to less experienced team members.
6. Own and partner the key reward processes like - annual compensation review, variable pay, sales incentive plan, reward grievances handling etc.
7. Design sales incentive plan in line with the framework and reviewing its effectiveness and governance
8. Monitor the internal pay ranges, undertake competitive analysis and market trends to provide expert guidance on salary movements, appropriate compensation and grade fitment of new hires and internal movements across all business units/functions of the organization
9. Serves as a subject matter expert and an advisor to Business HR and recruitment teams as needed in all aspects of compensation design planning and administration processes and counselling on various aspects of compensation
10. Drive resolution of compensation issues and independently makes recommendation for optimal solutions in situations where issue is complex