Chief Manager - Compensation & Benefits - General Insurance

COMPANY - A Leading General Insurance company

EXPERIENCE - 5 - 12 Years

QUALIFICATION - Any full-time graduate and MBA

JOB DESCRIPTION :

- Create compensation guideline that matches the company's work and organizational culture

- Conduct salary and labor market research to define benchmarks

- Keep abreast with new trend and best practice in comp & ben

- Work with managers to develop employee promotion and retention strategies

- Make sure that compensation practices are in compliance with current laws and regulations

- Conduct periodic audits, prepare and present reports

- Develop and monitor a department budget

- Hands on experience with HR software (HRIS), SAP

- Oversee compensation and payroll support teams

QUALIFICATIONS :

- Any full-time Graduate and MBA

- Be able to effectively explain a company's pay system and address executive and employee concerns

- Be able to collect and analyze data to determine the best compensation plan for a company

- Experience in COMPENSATION SYSTEMS

- Direct financial compensation - wages, salaries, bonuses and commissions

- Indirect financial compensation - benefits, leaves, retirement plans, education and employee services.

- Non-financial compensation - career development and advancement opportunities, opportunities for recognition, and work environment and conditions.

 EQUITY - Internal equity, External Equity

- ORGANIZATIONAL STRATEGY : 

- Compensation philosophy

- Objectives

- Market competitiveness

- LEGAL COMPLIANCE

- WAGES AND SALARIES

- Deciding what to pay - New employee, existing employee due for increase, existing employee moving into new role, retaining a valuable employee

- Determining Base Pay - Job descriptions, job analysis, job evaluations, reviewing pay structures, Role evaluation for salary against external and internal data

- Salary surveys

- Create policies and administrative procedures

- Part time employees

 - Pay increases - Annual cost of living increase, market adjustment, promotional increase, merit increase, bonus and incentive plans

 STATUTORY BENEFITS :

- Employment Insurance - Regular benefits, Maternity and parental benefits, Sickness benefits, Compassionate care benefits

- Statutory Obligations - Minimum wage, Hours of work, Vacations and holiday leave, Maternity and paternity leaves, Adoption and parental leaves, Emergency/sick leave/compassionate leave, Bereavement leave, Leave entitlement, Grievance procedures, Termination of employment

 EMPLOYEE BENEFITS :

- Health

- Accidental Death or Dismemberment

- Long term disability

- Employee Assistance plans

OTHER PERSPECTIVES :

- Professional development

- Culture

- Workplace flexibility

- Compressed work week

- Job sharing