Business Lead/Deputy Vice President/Vice President - Compensation & Benefits Manager (6-14 yrs)

Job Description:

Compensation Benchmarking:

- Actively work on compensation benchmarking study for various sponsored and forum based surveys.

- Work closely with Business HR Team for evaluating compensation needs for business verticals.

- Analysis basis comp survey outcome, internal parity and input for decision on compensation.

Compensation Review Process:

- Actively work on annual compensation budgeting, simulations & planning for execution.

- Work with Business team for finalizing the compensation, rating normalization process and building the proposals as per the plan.

- Interact with leadership team for comp review process.

- Actively involved in the roll out and conclusion of the process.

- Handle off cycle comp reviews.

- Proactively review compensation of employees in the respective business segments based to internal comp, market comp and retention challenges.

Variable Pay:

- Actively work on incentive scheme formation keeping in mind the role deliverables, productivity benchmarks and balance of Fixed to Variable ratio of the compensation.

- Work on incentive calculations, analysis and approval process.

- Monitoring of payout of Incentives.

- Work on the annual bonus plan budgeting, simulation and total variable pay impact linkages to business performance.

- Work with Business Team for finalizing the annual bonus plan.

- Interact with leadership team for comp review process.

Rewards strategy for Business:

- Actively partner with HR Business Partners and Business leaders on all C&B projects and activities.

- Sharing compensation related insights with business to enable decision making on pay, cost, total rewards.

- Enabling HR and business teams with data/process/policies related to C&B for better employee experience and efficient ways of working.

Compensation Analytics:

- Comp Analytics pre, during and post compensation review cycle.

- Comp analysis basis internal, market benchmark data, hiring data and other market insights.

- Industry trends/ Market insights on compensation for the area of business.

- Variable pay linkage analysis with business output, productivity and earning analysis.

- Propose interventions based on comp analysis for retention, proactive corrections & productivity improvement.