National Compensation & Benefits Manager - Micro-Finance

Our client, is one of the largest micro-finance companies in India, located in a large metropolis in South India. The company has continuously won awards for great service, and also for being one of the best places to work.

Job Purpose :

- Aligning the remuneration policy and practices of the company and its subsidiaries to the ecosystem of Small Finance Banks within defined budgets, laws and organizational appetite in order to promote a performance oriented culture in the organization.

Primary Responsibilities :

Business :

- Prepare compensation budget of the organization basis the approved manpower plan

- Develop the costing budget for the appraisal cycle through proposal of fixed compensation and bonus grid in correlation with performance rating during the review exercise and submit the same for approval Customer

- Coordinate the annual compensation survey for the organization with approved and selected vendor

- Manage all increment and bonus payouts in liaison with RHRMs and Business Heads

- Regularly Track and ensure statutory compliances across all areas of Human Resources are adhered to and audited within stipulated timelines and requisite co-ordination is done with appropriate entities when required.

- Payroll input & output validation and approval of the final pay register and headcount reconciliation

- Coordinate with outsourced vendors and ensure administration of all benefits to employees in order that transactions are managed smoothly

Process :

- Understand and interpret results of the survey and present the same to relevant committees

- Design and deployment of the compensation review exercise for the entire organization to achieve Company's pay philosophy and optimize business goals

- Create, update and maintain pay ranges for critical positions in the SFB

- Deployment of Long Term Compensation Initiatives including ESOPs for high performers to retain and keep them engaged with the organization

- Prepare, communicate and deploy short term incentive schemes in collaboration with business heads

- Review all remuneration and benefits related policies from time to time and recommend changes as and when required to ensure that policies are in tune with market conditions

- Design non-monetary Reward Mechanisms which would appeal to the targeted employee group

Learning and Performance :

- Keep scanning the market and implementing practices which are employee friendly in alignment with the Company Philosophy

- Ensure goal-setting, midyear - review and annual appraisal process for self and team happens within specified timelines for self and reportees