Reward-compensation-benefits
7 - Heads/managers responsible for rewards, benefits, compensation, workforce mobility
The VPs, Heads, or officials in equivalent positions deal with the rewards, compensation, mobility, and benefits. They perform the following job responsibilities:-
Compensation structure:
They are responsible to devise, implement and administer a compensation structure for each level of hierarchy and workforce at the organization.
Evaluate existing compensation structure:
They evaluate the cost-effectiveness of the existing compensation and rewards program and determine its consistency with the corporate objectives and existing trends.
Data analysis:
They are responsible to analyse the compensation, benefits, and rewards data and align it with the performance and efficiency to scale the horizontal or vertical mobility of employees.
Align benefits with regulations:
They must have a thorough knowledge of federal state and local regulations regarding compensation, benefits, and rewards. They align legal guidelines with the reward and benefits management system of the company
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