Rewards Services Specialist - APAC, ISC, Japan

Job Title

Rewards Services Specialist - APAC, ISC, Japan

Job Description

Job Responsibilities:

• Creates and assesses budgets for merit increases, retention strategies, and incentive programs, analyzes external market data, forecasts local market trends, and ensures alignment with company's overall compensation strategy, working under general supervision.
• Provides subject matter expertise and guidance to functional managers and recruiters on various rewards matters, including grading, job evaluations, salary policies, benefits, and international mobility practices, ensuring consistency and alignment with corporate policies.
• Conducts thorough analysis of market trends and compensation data to inform the development of competitive reward programs, prepares detailed reports on rewards-related topics, including compensation analyses, market trends, and policy updates, sharing these reports with senior management to support informed decision-making.
• Creates and updates rewards policies to ensure compliance with local regulations and internal governance standards, drafting new policies, revising existing ones, and ensuring all practices adhere to regulatory requirements.
• Performs job evaluations and grading to determine appropriate compensation levels for various roles within the organization, applying established methodologies and ensuring consistency across all job families and levels.
• Contributes to the design and implementation of reward processes, tools, and standards under the guidance of senior professionals, specifying new processes, setting tactical plans, and ensuring efficient execution.
• Assists in managing relationships with external Rewards vendors, ensuring they meet contractual obligations and deliver high-quality services, participating in vendor selection processes and conducting regular performance reviews.
• Handles employee benefits programs, including health insurance, retirement plans, and wellness initiatives, to ensure comprehensive coverage and support for employees' well-being.
• Answers employee questions, provides detailed explanations, and ensures that all information is easily understood to help employees make informed decisions about their benefits and compensation packages.
• Conducts job evaluations and classifications to support fair and equitable compensation practices, including salary benchmarking, benefits administration, incentive program development, policy creation, data management, employee communication, People Function metrics analysis, regulatory compliance, and vendor management.

Minimum required Education: Bachelor's Degree in Human Resources, Business Administration or equivalent.

Minimum required Experience: Minimum 10 years of experience with Bachelor's in areas such as Rewards Management, Human Resources or equivalent.

Preferred Skills:

• Rewards Policies and Processes
• Regulatory Compliance
• Data Analysis & Interpretation
• Documentation & Reporting
• Rewards Administration
• Market Intelligence
• Auditing Techniques
• Consulting
• Program Management
• Vendor Management
• Compensation Benchmarking
• Stakeholder Management
• Resource Planning & Allocation
• Continuous Improvement
• Technology Acumen

How we work together We believe that we are better together than apart. For our office-based teams, this means working in-person at least 3 days per week.Onsite roles require full-time presence in the company's facilities.Field roles are most effectively done outside of the company's main facilities, generally at the customers' or suppliers' locations.

About Philips We are a health technology company. We built our entire company around the belief that every human matters, and we won't stop until everybody everywhere has access to the quality healthcare that we all deserve. Do the work of your life to help the lives of others.