Powerhouse Gym & Wellness - Manager - Compensation & Benefits

Job Description :

- Formulate compensation policies and strategies for the organization

- Work on the Annual Total Remuneration Review Exercise and partner with all stakeholders to prepare and recommend improvements

- Organize and manage regular compensation surveys/ bench-marking exercises to remain market competitive with respect to talent

- Work within guidelines to conduct and monitor budgeting exercise that include direct costs and other employee related indirect costs

- Support the increment cycle for the organization

- Facilitate the process of development and implementation of variable/ incentive pay plans

- Understand Job Evaluation Methodologies and evaluate jobs to arrive at correct level fitment

- Regularly review and update existing benefits and policies, aligned with market practice and changing organisational context

- Provide inputs and drive the process of creating new policies and procedures in line with best in class organisations

- Ensuring market competitiveness of compensation structure within the budgetary constraints

- Evaluating effectiveness and compliance of compensation programs

- Analyzing and Recommending changes in the Compensation Strategy based on changing organisational context

Responsibilities :

- Provide regular compensation and benefits consulting support to the business and employees. Provide recommendations and support decision making for various pay actions (job offers, promotions, etc.) by utilizing survey sources, market references, internal equity, and other data as appropriate

- Review compensation and benefits processes and policies to recommend appropriate changes. Support in harmonization of policies and processes as required. Recommend new, competitive policy guidelines and innovations based on market benchmarks.

Annual Merit Increase - Lead annual merit increase activity.

LTIP/ ESOP and Sr. management compensation : Design the proposal for LTIP/ESOP - data analysis, financial impact, presentations, approval notes. Ensure compliance for ESOP/ senior management compensation, in coordination with compliance.

Compensation Benchmarking : Develop a deep understanding of all jobs in the organization in order to facilitate accurate job role mapping and data submission to survey vendor through interactions with industry peers and consultants. Build a data base of market intelligence for all jobs and benefits. Share market insights with management to create greater buy-in.

Initiatives and Projects : Anchor special projects like automation, internal audits, etc. within the team.

Manpower budgeting and planning : Facilitate the planning of manpower requirements across functions. Ensure compliance to signed off numbers. Review and publish variance reports to management council on periodic basis.

Compensation Awareness : Regular communication on C&B parameters and roll out of modules for Business HR teams