Omega Healthcare - Specialist - Compensation & Benefits (12-18 yrs)

Compensation & Benefit Specialist : (12-18 yrs)

Job Description:

- To play the role of an C&B Specialist who will be fully responsible for setting and tracking of the compensation budget in the organization across geographies. Also to monitor the job market and report to the management on modern trends in C&B, compensation benchmarking, manage the compensation policies and procedures with the flexibility while keeping the internal equity and the external competitiveness in mind, analyzing benefits plans, programs, and policies, monitoring government regulations, legislation, and benefits trends.

Critical Accountabilities:

- Prepare the compensation and benefits budget, including the regular monitoring, reporting and adjusting of the budget for all geographies.

- Monitor the job market, the modern trends in the compensation and finds the best practice for implementation in the organization without major impact on the personnel expenses costs.

- Design and develop compensation and benefits policies.

- Design the compensation structures in the organization (grading system, job evaluation system, job classifications, job descriptions, promotion policy, etc) aligned with business goals and the corporate values.

- Build and maintain the positive and influencing relationship with the executive management.

- Work closely with the top management, supporting decisions and providing the evidence for discussions within business units.

- Analyse different components of the remuneration scheme in the organization and prepare report about the internal equity and external competitiveness.

- Coordinate C&B processes like the salary planning, bonus planning, new benefits introduction, etc.

- Design and develop different schemes of the variable remuneration (incentive / bonus / retention schemes for the Delivery and Enabling functions) in coordination with respective stakeholders.

- Closely collaborate and manage the relationship with the external compensation consulting company and participate in salary and labour market surveys to determine prevailing pay rates.

- Lead and manage compensation and benefits projects for the entire organization.

- Participate as the team member in other strategic projects and initiatives in the organization.

- Assess employees needs by conducting organisational surveys to find out what motivates and engages employees.

- Design policies to close gaps in the compensation of employees (introducing the internal equity at affordable costs).

- Train HRBPs and line managers in the complex usage of different HR and Compensation policies.

- Advice top managers in taking difficult decisions in the area of compensation, benefits and motivation of employees.

- Participate in C&B related internal and external audits and design & track CAPA wherever applicable.

- Maintain excellent interpersonal relationships with all stake holders and be willing to work independently.

- Ensure that compensation practices are in compliance with current legislation of respective geographies.

- Ensure confidentiality, integrity and availability of all data dealt in course of work.