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Lead- Compensation & Benefits

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Date: 17-Nov-2022

Location: Noida, India

Company: Iris software

Job Description

Deliverables & KRAs:

Contribute to the design and development of the Iris rewards strategy, ensuring that policies and practices are aligned to the business and people strategies
Undertake competitive market benchmarking studies to establish pay practices and pay bands that help recruit and retain
Design and implement the company salary structure based on competitive benchmarks, labour laws, taxation and local pay policies. Ensure a systematic approach to compensation management that supports business strategy
Recommend changes in compensation & benefits aimed at increasing employee retention
Process the annual and mid-year salary increase cycles based on compensation analysis and employee inputs
Process owner for assigned reward processes – Annual & Mid-Year Compensation Cycle, Salary Budgeting, Market Intelligence, Market Pricing, Salary Range Development, Salary Administration, Incentive Pay, Benefits
Development of a “current state analysis” of benefits provided by Iris. Analysis of benefits provision versus statutory minimum and market norms thereby making recommendations for benefit changes taking the entire Reward offering into consideration
Responsible for managing key external partner/vendor relationships, continually driving enhanced value from all contracts and ensuring quality service is delivered to the organization
Understand all Iris business challenges and support each with pragmatic and practical solutions that support both the TM and Business agendas
Manage the operational elements of Total Rewards. Be seen as a credible Total Rewards expert and advocate of the Rewards Centre of Excellence. Develop mechanisms for potential assessment for specialist and leadership levels
Contribute to the design and development of new reward programs and lead the change management and communication of each thus ensuring successful implementation

Role Specifications and capabilities required

Proven track record of ability to analyze complex data and communicate output in a method appropriate to the target audience
Broad knowledge of all aspects of the compensation and benefits portfolio
Experience of managing both compensation and benefits external suppliers
Networking and awareness of market information at any given point in time related to C&B best practices
Ability to work in teams, both as a lead and a supporting team member
Excellent facilitation and presentation skills to senior management teams
Change management skills to successfully implement approaches to performance management system and process
Strong program and project management skills
Strong cross-functional collaboration skills at a senior level to bring programs to conclusion
Effective verbal and written communication skills
Eye for detail
Influencing skills
Excellent MS Office skills (MS Excel, MS PowerPoint)
Strong Negotiation skills
Strong Time Management skills
Self-management skills
Ability to work under pressure and deadlines
Experience in SuccessFactors (good to have)

Job Summary

Role Based Competencies

Beh - Collaboration
Beh - Client/Stakeholder centricity
Beh - Agility
Beh - Ownership
Beh - Innovation
Beh - Excellence
Beh - Employee empowerment
TM - Stakeholder Management
TM - Persuasive/Influencing Ability
TM - Presentation Skills and Reporting
TM - Relationship Management
TM - Consultation
TM - Business Acumen
TM - Professional Integrity
TM - Managing HR initiatives
TM - Problem Solving
TM - Executing Task with Quality within timeframe

Mandatory Competencies

TM - Talent Management
TM - Compensation and Benefits
Beh - Communication
TM - HR Systems
BA - Excel, macros, pivots
TM - Data and Analytics
TM - Presentation Skills and Reporting
TM - Managing HR initiatives
TM - Payroll
TM - Performance Management
TM - Problem Solving
TM - Professional Integrity
TM - Relationship Management
TM - Stakeholder Management

Good to Have Competencies