Compensation & Benefits CoE (C&B CoE) is responsible for designing, developing and Implementing compensation & benefits programs and policies that attract, engages and retain the best talents for our company
This team is part of the APJC Regional C&B team (part of International C&B organization, which supports our company operating outside of the US)and would be part of few C&B categories globally as per the International C&B structure. This role would be reporting to India C&B leader.
The scope of works covers but is not limited to base salary management, short term incentives, long term incentives, job evaluation, merit budget, allowances, awards, benefits programs, retirement pension plans, executive compensation, sales incentive plans, year-end compensation planning and related processes, etc.
Primary Activities:
Serves as an internal consultant to HR team to resolve compensation issues and provide recommendation. This includes the design and implementation of compensation and benefit and wellbeing programs for all employees.
Be a team lead / team member of international regional C&B projects (e.g. SIP review program, Data digital and Market Intelligence) Implements our global rewards policies and programs in India tech centre while meeting local statutory requirements and business needs.
Conducts market intelligence to understand competitive market practice; identify gaps and opportunities and recommend enhancements to ensure we are market competitive.
Plans and develops annual salary budgeting and provide guidance of total compensation planning for managers in alignment with Global guidance as well as supports regular off cycle pay reviews.
Supports communication of total rewards programs to enhance the perceived value of the programs.
Partners with HR Business Partners/Talent Acquisition team on to ensure consistency with global guidelines
Required Qualificationsxefxbcx9a
5-7 years of experience in Compensation & Benefits . Additional experience in related functions in HR in a multinational environment
Collaborative team player, comfortable working with multiple stakeholders within and outside of India
Experience working in MNC HR consulting firms in the space of Total Rewards
Strategic and logical thinking
Project management skill
Strong analytical skills with data management.
Execution Excellence
Business Savviness
Knowledge
Compensation philosophy, total reward concepts
Base pay management
Incentive planning including sales incentives
Benefit programs and perks
Retirement pension plans
Global compensation operating models
Indian labor law
Labor cost analysis
Pharmaceutical industry and healthcare environment
Financial and compliance knowledge
Current Employees applyCurrent Contingent Workers applySearch Firm Representatives Please Read Carefully Merck & Co., Inc., Rahway, NJ, USA, also known as Merck Sharp & Dohme LLC, Rahway, NJ, USA, does not accept unsolicited assistance from search firms for employment opportunities. All CVs / resumes submitted by search firms to any employee at our company without a valid written search agreement in place for this position will be deemed the sole property of our company. No fee will be paid in the event a candidate is hired by our company as a result of an agency referral where no pre-existing agreement is in place. Where agency agreements are in place, introductions are position specific. Please, no phone calls or emails.Employee Status: RegularRelocation:VISA Sponsorship:Travel Requirements:Flexible Work Arrangements: HybridShift:Valid Driving License:Hazardous Material(s):Job Posting End Date: 01/14/2025*A job posting is effective until 11:59:59PM on the day BEFORE the listed job posting end date. Please ensure you apply to a job posting no later than the day BEFORE the job posting end date.