Group Compensation Lead
CurrentDevelop and implement compensation strategies, including pay structures, salary bands, and incentives.Conduct market analysis and benchmarking to ensure competitive and equitable salary practices using Korn Ferry & Job Master surveys.Design and oversee the salary increase process, including annual merit reviews, market adjustments, and promotions, ensuring alignment with company policies, budget constraints, and market benchmarks.Develop and process Bonus calculation based on performance Appraisal.Create and monitor HR budget for upcoming new year and report the variance.Create and implement comprehensive new hire packages using the current salary scale for each grade.Manage the Capping for monthly gross for all titles and grades.Review and validate payroll processes, including salary payments, deductions, and tax portal sheets.Design and manage short-term and long-term incentive plans to motivate and retain employees.Track and manage contract renewals for top management.Create and evaluate HR policies to ensure they align with best practice.Manage and develop the retention program for all top management & senior management.