Head of PMS (Performance Management System)

Job Responsibilities of Head of Performance Management and Compensation & Benefits:

1. Performance Management Strategy: Develop and implement performance management strategies that align with organizational goals, ensuring continuous improvement, high employee performance, and engagement.
2. Performance Evaluation Systems: Oversee the design, implementation, and continuous refinement of performance appraisal processes, including setting key performance indicators (KPIs), ensuring fair and objective evaluations, and facilitating regular feedback mechanisms.
3. Employee Development and Growth: Partner with leadership to identify and develop high-potential employees, offering coaching, training, and career development opportunities to enhance performance and build future leaders.
4. Compensation Strategy: Design and manage competitive compensation programs, ensuring alignment with industry standards, internal equity, and company financial goals while attracting, retaining, and motivating top talent.
5. Benefits Program Management: Oversee the development and administration of employee benefit programs, ensuring offerings are competitive, compliant with regulations, and meet the diverse needs of the workforce.
6. Market Benchmarking: Conduct regular market research and salary benchmarking to ensure compensation packages are competitive and aligned with industry trends.
7. Compliance and Legal Requirements: Ensure all compensation and benefits practices comply with local, state, and federal regulations, and maintain up-to-date knowledge of relevant labor laws.
8. Employee Engagement and Retention: Develop initiatives that link performance management and compensation strategies with overall employee engagement, ensuring both systems contribute to high retention rates.
9. Budget Management: Manage the compensation and benefits budget, ensuring cost-effectiveness while maintaining competitive offerings for employees.
10. Data-Driven Decision Making: Use HR analytics and data insights to assess the effectiveness of performance management systems and compensation programs, providing recommendations for improvement.
11. Stakeholder Collaboration: Work closely with senior leadership, HR teams, and managers to align performance management and compensation strategies with business goals, organizational culture, and employee needs.
12. Change Management: Lead change management efforts related to performance and compensation initiatives, ensuring smooth transitions and employee buy-in during new program implementations or policy changes.
13. Communication: Clearly communicate performance expectations, compensation programs, and benefits offerings to employees, ensuring transparency and understanding across all levels of the organization.
14. Employee Recognition Programs: Develop and manage employee recognition initiatives that reward top performers and encourage a high-performance culture.

Please reach out to Jyotishikha on 9928256345 or share your resume on jyotishikha.asheesh1@namfin.in