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Senior Manager/AVP - Compensation & Benefits - BFSI (4-10 yrs)
Company : A Leading Financial Services firm
Role : Senior Manger / AVP - Compensation and Benefits
Job Description :
The incumbent will be responsible for leading the various projects under the C&B domain such as compensation benchmarking surveys, annual increment cycles, performance bonuses, sales incentives, etc.
Compensation Philosophy :
- Define a fair, equitable and competitive total compensation package that fits and is aligned to our company's strategy and business goals.
- Ensure that compensation practices are in compliance with current legislation.
Annual Compensation Review Cycle :
- Program manage the Annual Compensation
-Review cycle to ensure complete budget management and timeline adherence
- Use statistical methods and techniques to make data based decisions on various aspects of compensations.
- Drive pay for performance through targeted variable pay programs including but not limited to Sales Incentive Plan, Annual Bonus Plans, LTI and STI.
- Deploy effective communication strategies and success metrics.
Benefits Management :
- Work with Head C&B to ensure smooth deployment and maintenance of key employee benefits.
- Work closely with internal procurement team in vendor management and renewals
- Work with Compliance Team to ensure adherence to all statutory compliance requirements
- Participate in benchmarking studies to ensure competitiveness of our benefits
Benchmarking & Market Intelligence :
- Participate in salary benchmarking surveys to determine prevailing pay rates and benefits
- Conduct ongoing research into emerging trends, issues and best practices
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