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Job Description
Job Purpose
Implement and maintain the Compensation and Benefits framework and initiatives and participate actively in periodic salary/ benefits surveys within the marketplace in order to attract and retain high calibre talent.
Principal Accountabilities
Compensation and Benefits Management
•Prepare the board level proposals related to the Group’s Compensation and Benefits strategy to the Executive Management and Board of Directors to ensure that the right decisions are taken.
•Propose changes to compensation policies, enhance or revise existing compensation and benefits programs based on current trend analysis and global policy direction to maintain the eligibility, coverage, and applicability of the remuneration framework policies.
•Support any issues guidelines relating to annual compensation related exercises such as budgeting, performance appraisals, bonus calculations, salary reviews.
•Benchmark employee compensation and benefits with relevant comparators in the market and best practice to ensure external competitiveness of rewards.
•Conduct the annual salary review processes and ensure that all salary planning guidelines and pay policies are updated and communicated with the designated stakeholders.
Rewards Structures
•Support the development of Reward Strategies, Grading structures and short- and long-term Compensation and Benefits structures which enable ENOC to stay competitive in the markets.
Market Benchmarking and Pricing
•Compare ENOC salary levels with competitive benchmarks in the local and international markets where ENOC operates by proposing relevant peer groups, participating in formal market surveys and carrying out informal market data exchanges.
•Analyze market benchmark studies data to determine ENOC’s position in the target markets on specific components of the salary structures and subsequently develop ENOC’s Total Rewards Strategy
Policies, Systems, Processes & Procedures
•Implement approved Section policies, processes, systems, standards and procedures in order to support execution of the Section’s work programs in line with Company and International standards.
•Execute Rewards process (calendar, process, tools, methodology) to ensure the process is ongoing, consistent and integrated into key business planning priorities.
•Comply with the requirements of the Integrated Enterprise Risk Management System relevant to domain risks and implement measures to mitigate all identified risks from a Department perspective.
•Design and implement new tools and techniques to improve the quality and efficiency of products, operational processes, procedures and services.
•Identify and recommend improvements in internal processes against best practices in pursuit of greater efficiency and productivity.
Relationship Management
•Develop and maintain of effective key business relationships with all relevant external/internal entities and all sections with the highest standards of business ethics, whilst promptly attending to all critical issues in-order to ensure the services required by the organization are delivered in the most effective manner.
•Work closely with Heads of Department and colleagues across the Group.
•Interact with staff across the Group on matters related to Rewards.
•Collaborate with Consulting firms and other third-party service providers for the provision of Rewards related services.
•Network with industry peers for market information and exchange of thoughts or information on professional domain matters.
Reporting
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•Provide inputs to enable the Section Manager to prepare weekly and monthly reports for the section to report progress on compliance with SLAs.
•Maintain and monitor a quarterly reporting dashboard for the HR management review, track and collect data analysis from various HR departments.
Educational Requirements:
•Bachelor’s degree in HR or equivalent.
•Professional certification such as CIPD/ World at Work/ HR-related areas is highly preferred.
Experience Requirements:
•5-7 years of relevant experience in HR, with at least 3 years of specialized experience in Rewards/ Compensation and Benefits.
Skills Required:
•Ability to collaborate with stakeholders
•Understanding business requirements
•Ability to design and implement reward strategy, methodology and principles
•Excellent analytics and MS excel skills
•Ability to present findings to key stakeholders to help decision making process
•Thorough understanding of the organisation, operating model, structure and roles
•Thorough understanding of market and compensation trend
Skills
Data AnalysisDecision MakingBusiness PlanningStrategyQualityIf an employer asks you to pay any kind of fee, please notify us immediately. Jobaaj does not charge any fee from the applicants and we do not allow other companies also to do so.
About Company
Important dates & deadlines?
Application Deadline
08 Apr 24, 03:17 PM IST
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