General Manager/AVP - Compensation & Benefits - BFS

Seeking for a C&B specialist with expertise in PMS, Manpower Planning, Bench Marking, Payroll, LTIP and Esops. This is a 2nd in line position to the Head C&B of the organisation, which is a leading name in Insurance industry.

Responsibilities - 

Responsible for effectively driving the key areas of Rewards, Performance Management, Dashboards & MIS. This includes communicating, implementing and improving the processes of performance management, compensation & benefits management. Working on reward schemes with the objective of enabling business performance by creating a performance-oriented culture, ensuring a competitive compensation for high performers. Role will also be responsible for program management of key HR initiatives and creating the roadmap for success of PeopleSoft (HRIS).

- Responsible for conceptualizing and implementing the reward strategy that spans across fixed, variable pay, long term and benefits

- Creation of sales incentive plans is an essential activity that requires working with Finance and respective business heads

- Ensure robust execution and completion of the annual compensation review process

- Assess the remuneration structure to ensure sharper business alignment by strengthening the variable pay components linked to key business objectives

- Evaluate the option of a long term retention plan for key talent

- Benchmark salaries (Fixed and variable) to ensure alignment with company stated objectives and appropriate action as required

Strengthening the performance management framework

- Evaluate the performance management framework and provide suggestions on enhancing the effectiveness

- Initiate & deploy the performance management process

- Monitor implementation as per agreed timelines across departments

- Monitor availability of goal sheets; Facilitate moderation

- Resolve issues that may arise in implementation; provide appropriate training on PMS to new entrants

- Drive & monitor promotion process

- Ensure timely and smooth implementation of the PMS process as per set guidelines

- Create an effective people cost and manpower plan linked to the strategy, budgets and objectives of the organization.

- Sharper monitoring and controlling through monthly analysis on HR Cost / Manpower Numbers - Plan vs Actual in coordination with Finance.

- Share dashboards/analysis with appropriate audience regularly

- Create and execute the roadmap for success of PeopleSoft

- Implement a robust governance model to track all key initiatives and projects

- Ensure adherence to all timelines and budgets

- Identify key measurement aspects driving HR success, both lead and lag measures

- Create a complete suite of HR dashboards

- Share dashboards and key outcomes with business leaders and HR business partners

- Activate market network to access trends and information in the people area

- Continually benchmark practices with market and assess for gaps to be addressed

- Research & identify new initiatives for HR Policy / Process improvements

- Develop a plan for implementation of new initiatives, with budgets, timelines & resource requirements.

Pooja Saxena
Principal Consultant