Manager Total Rewards
PharmEasy
Position Overview:
Managing reward interventions for holding companies such as - competitive bench- marking, annual salary revisions, design of incentive and benefits programs, job evaluation, job matching, pay range creation etc.
Responsibilities:
• Annual Compensation Review Cycle: Design and program manage the Annual Compensation Review cycle for all entities in India to ensure complete budget management and timeline adherence. Use statistical methods and techniques to make data based decisions on various aspects of compensation. Deploy effective communication strategies and success metrics.
• Sales/Productivity Linked Incentives/Variable Pay, Retention, Severance Plans : Manage the annual variable pay process execution through effective coordination with Finance and other internal stakeholders to ensure timely payout finalization with appropriate approvals.
• Design appropriate solutions to address critical business requirements around employee motivation, retention and productivity enhancement.
• Benefits Management : Ensure smooth deployment and maintenance of key employee benefits. Participate in benchmarking studies to ensure competitiveness of our benefits.
• Benchmarking & Market Intelligence : Commission custom surveys and also participate in industry salary benchmarking surveys to determine prevailing pay rates and benefits and analyze these for building internal proposals on salary reviews and policy changes. Conduct ongoing research into emerging trends, issues and best practices.
• People Policy Framework : Develop a comprehensive policy framework covering all elements of an employee lifecycle in the organization. Ensure adherence to the published policy documents across the organization. Conduct periodic audits and prepare reports. Assess the effectiveness of policies and processes and proactively recommend new and innovative approaches and solutions.
• Job Evaluations and Grade Structuring: Support any special projects in job grading and Job evaluations as per the organization’s policy. Partner with HR and business leaders to maintain an appropriate grade structure and ensure effective governance.
• Performance Management Strategy & Annual PMS process: Support the design and execution of annual performance management process for the assigned business/countries. Act as an SME and guide the HR generalists and line leaders in defining objective business, team and individual level scorecards to strengthen the performance management architecture.
• Design and delivery of manager/employee communication and training on all these initiatives
• Develop and execute appropriate communication and training programs for manager/employee capability building in specific P&R areas to ensure effective implementation and realize improved business performance.
• HR Analytics : Develop and set standards around key HR metrics with focus on analytics around compensation spends and wage management.
• Business As Usual : Work with other members in the team to ensure smooth delivery of Rewards services to employees ranging from handling manager queries, partnering with HRBP to support business needs to process promotion and salary increase periodic cycles.
• Manage the implementation of relevant TR & PMS policies and programs within the business and coordinate the relevant key strategic processes, working through Generalists to interface with the business.
• Maintain expert specialist knowledge by keeping abreast of published materials, competitor practice, external market developments and trends and legislative and regulatory developments.
• Understand the P&R systems in depth and working alongside HR technology teams to deliver improvements and enhancements as needed. Complete data audits and cleanses as required and ensuring any follow up actions are completed on time.