Deputy Manager - Human Resource - BFSI

Job Title Deputy Manager - HR (focus on Compensation & Benefits & analytics)

Department / Division: Finance & Accounts

Position reports to: Senior Manager / AGM - HR & Admin

Minimum Qualification (i.e., education, training etc.)/ Experience - MBA in HR

Minimum Experience: Strong expertise in HR with around 5-6 years of experience

- Experience of Compensation & Benefits with specific expertise in compensation administration - compensation ranges, performance increases, managing the wage bill and linking fixed and performance plans to performance measures

- Strong interest area and experience in HR analytics to improve HR processes

- Fungible skills related to various facets of HR, including: Performance Management, Policy Design, Employee engagement

Job Purpose :

 The role holder is responsible for implementing the organisation pay philosophy, process and policy guidelines for compensation & benefits as well as competitive rewards strategy to attract, motivate and retain right talent for the firm. The role holder is also responsible for implementing HR analytics and enhance HR service effectiveness. Supporting HRBP Lead on employee engagement and policy & process design will also be critical for the job holder

Key Responsibilities :

1. Compensation Strategy & Design :

- Assist and support in designing compensation and benefits policy guidelines as well as rewards strategy including pay mix, pay ranges and payroll administration

- Ensure adherence to all statutory compliances as applicable for pay policies and guidelines

- Ensures effective payroll outsourcing and implementation; coordinates with the mallHRBP and payroll vendor for payroll processing, verification of salary reports, deductions and tax reports

- Benchmark compensation and benefits trends followed in the industry to understand the best practices and provide recommendations

- Drive annual compensation review process across the organization for incorporating market corrections ensuring accurate and updated market data availability

- Track and monitor adherence to compensation and benefits guidelines and implementation timelines

- Analyze compensation data of the industry for providing inputs in annual compensation review to ensure company's remuneration policies are competitive

- Analyze internal compensation data to ensure internal parity and take corrective actions in case of any deviations

- Assist in designing incentive matrix for employees and support in increment, bonuses and incentive calculations basis the incentive matrix designed

- Coordinate and support compensation and benefits related special projects - job evaluation, pay ranges, pay mixes, banding-grading etc.

- Monitor changes in statutory norms and laws related to compensation and benefits; upgrade policy to ensure adherence to all compliances

- Ensure updating of compensation letters in the system as per the promotion announcements, resolve employee queries if any

2. HRIS Analytics:

- Conduct deep study of the HR data and the MIS to identify the key analytics metrics to improve the current processes

- Oversee analysis of all key HR processes and MIS, build analytics dashboard derive insights and design solutions

- Provide support in preparing monthly and quarterly reports to be shared with Blackstone along with any Adhoc requirements

- Monitor effectiveness of automation/ technology integration efforts and accordingly make modifications to the systems/ processes

3. SPOC for Blackstone Reporting :

- Provide data and support in creating all Blackstone related reports

- Support HRBP Lead and CPO by providing people related data

4. Any other project / assignments :

- Provide support to HRBP Lead in conduct of Happiness Survey and its implementation, reporting

- Provide support in designing employee engagement initiatives, coordination with mall HRBPs, resolve queries etc.

- Evaluate the policies and processes at regular intervals and update the Employee handbook

- Any other assignment/s