DVP-Performance & Rewards

Key Responsibilities,

• Develop, implement, and continuously refine the organization's compensation strategy to attract and retain top talent.
• Analyze industry trends, benchmarking data, and market conditions to ensure competitive compensation packages.
• Ensure compliance with all relevant laws and regulations related to compensation
• Designing and Managing all aspects of compensation planning, including salary structures, bonuses, incentives, and equity programs, pay for performance.
• Conduct regular compensation reviews to maintain fairness and equity within the organization.
• Assist in the evaluation and classification of jobs within the organization to ensure internal equity.
• Review job descriptions to determine appropriate salary ranges and job classifications.
• Provide guidance to HR and managers on salary-related matters, including salary offers, promotions, and adjustments.
• Participate in salary surveys to gather external market data and ensure the organization's compensation practices remain competitive.
• Design, develop, implement and oversee the performance management framework, including performance appraisal processes, goal setting, performance evaluations feedback mechanisms and performance improvement plans.
• Collaborate with department heads and managers to establish clear, measurable, and achievable performance objectives for employees.
• Ensure that individual and team goals are aligned with the organization's strategic goals and objectives.
• Provide guidance and training to managers and employees on performance management best practices.
• Collaborate with HR and communication teams to ensure clear and effective communication of compensation and performance-related information to employees.
• Work with HR and department heads to identify training and development opportunities for employees to improve their performance and career growth.
• Foster a culture of transparency and fairness in compensation and performance practices.
• Implement succession planning strategies to ensure a strong pipeline of talent.
• Stay up-to-date with changes in employment laws and regulations to ensure compliance.
• Develop and manage the compensation and performance management budgets. Monitor expenses and optimize resources to achieve departmental goals.
• Collaborate with HR and finance teams to ensure accurate and timely payroll processing.

Education:

Work experience in years:

• A minimum of 8 years + experience in compensation and performance management.
• In-depth knowledge of compensation principles, performance management best practices, and relevant employment laws.
• Expert knowledge in Excel, PowerPoint (making and delivering presentations)
• Ability to develop and maintain effective working relationships with various stakeholders.
• Proficiency in HRIS (Human Resources Information System) and data analysis tools.
• Quick response time to queries
• Collaboration in working with cross functional teams and solution oriented behavior

Skills / experience required:

• Reports, analytics and MIS and data driven decision-making skills.
• Excellent communication and interpersonal skills.
• Problem Solving and Critical Thinking, Collaborative, Influencing Skills
• Strong Networking skills