Job Profile Summary:

The People Rewards Specialist 60 is responsible for creating and updating Rewards policies, assessing budgets for various programs, ensuring they align with market trends and company's Rewards' strategy, working under general supervision. The role provides guidance on compensation, benefits, and international mobility to employees, managers and recruiters and conducts market analysis to develop competitive programs that attract top talent and comply with local regulations. The role works with cross-functional teams to implement reward programs that support broader business objectives, handles job evaluations, and conducts audits to guarantee compliance with legal and Philips' internal policies.

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.

Job Family Description:

• 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 Qualifications:

Education:

• Bachelor's Degree in Human Resources, Business Administration or equivalent.

Experience:

• Minimum 5 years of experience with Bachelor's in areas such as Rewards Management, Human Resources or equivalent OR no prior experience required with Master's Degree.

Preferred Skills:

Technical / Functional 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

Application Requirements:

• Contract Period: No fixed term
• Probationary Period: Yes (generally 6 months from date of hire)
• Job Description: (Immediately after hiring) As above (Scope of change) Company-determined duties
• Work Location: (Immediately after hiring) Head Office (Azabudai Hills) (Scope of change) Company-determined work locations
• Working Hours: 9:00-17:30 Break time: Generally 12:00-13:00
• Work Style: Hybrid (3 days office attendance per week, up to 2 days remote work possible)
• Holidays: Every Saturday (scheduled holiday), Sunday (legal holiday), national holidays, New Year holidays (December 29 - January 4)
• Leave: First year paid annual leave up to 20 days (2nd-5th year: 20 days / 6th year onwards: 25 days granted), Care Leave (10 days annually), Sick Leave (up to 30 days annually), etc.
• Overtime Work: Yes
• *However, if hired as a manager, overtime pay is not applicable (late-night work allowance, holiday late-night work allowance are provided).*
• Salary: Basic annual salary 600,000 - 1,050,000 JPY. Will be considered based on experience.
• Bonus: Incentive (variable bonus) once a year (paid in March).
• *However, it will be paid variably depending on company performance, departmental performance, and individual evaluation.*
• *For those joining mid-year, pro-rata calculation applies for the target period.*
• Allowances: Commuting allowance provided.
• Insurance: Social insurance (Employees' Pension Insurance, Health Insurance) and Labor insurance (Employment Insurance, Workers' Accident Compensation Insurance).
• Retirement System: Two-tiered system of lump-sum retirement payment and defined contribution pension.
• Training System: Various online training, post-entry support training available.
• Internal Job Posting System: System in place to promote internal career changes.
• Other: PhiliFlex points: 72,000 points (1 point = 1 JPY).

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.

At Philips, we believe that every human matters. As a global health-tech leader, we focus on improving people’s health and wellbeing through meaningful innovation. The people who work here share our passion and are motivated to bring this purpose to life.

For more than 130 years, we have been creating technologies and innovations that improve people's lives and support healthcare practitioners. Headquartered in the Netherlands and operating in more than 100 countries globally, we focus our advanced technology and deep clinical and consumer insights on Precision Diagnosis, Image Guided Therapy, Enterprise Informatics, Monitoring/ Connected Care, Sleep & Respiratory Care and Personal Health.

Together, we deliver better care for more people because we believe that every human matters. That's why we're taking steps to create an environment where we acknowledge and embrace our differences and uniqueness and listen to and value each other's views. When people feel cared for and listened to, they bring their best qualities to work, leading to better collaboration, communication, innovation and success.

It is the policy of Philips to provide equal employment and advancement opportunities to all qualified employees and applicants for employment without regard to race, color, religion, sex, pregnancy/childbirth or related medical conditions, age, ethnic or national origin, sexual orientation, gender identity or expression, physical or mental disability, genetic information, citizenship status, veteran or military status, marital or domestic partner status or any other characteristic protected by law. As an equal opportunity employer, Philips is committed to fostering a culture where all are treated with respect and professionalism.

To ensure reasonable accommodations for individuals protected by Section 503 of the Rehabilitation Act of 1973, the Vietnam Veterans' Readjustment Act of 1974 and Title I of the Americans with Disabilities Act of 1990, applicants that require accommodation in the job application process may contact 888-367-7223, option 5, for assistance.

Philips is an Equal Employment and Opportunity Employer including Disability/Vets and maintains a drug-free workplace.

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