18/06 Forum Shah
Senior Manager at SkillVentory

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Head - Compensation & Benefits - NBFC - IIM/XLRI/TISS/SCMHRD (12-16 yrs)

Mumbai Job Code: 710455

Job Purpose:

To lead the Compensation and Benefits Team as a COE function for the company and ensure alignment with business objectives, Parity with competitors, promote employee understanding and ensure with statutory laws and regulations. Use analytics as a tool to get key insights for building Compensation and Benefits as a Talent strategy for attracting, retaining and rewarding talent

Key Responsibilities:

- Formulate policies, procedures and programs in the area of Employee Benefits and Compensation

- Define a fair, equitable and competitive total compensation and benefits package that fits and is aligned to the organization strategy and business goals

- Budgeting of Manpower Cost and build sustainable business measures to ensure the cost is under control

- Participate in annual Salary & Benefits Survey with consulting firms and analyze survey data results to ensure market competitiveness; benchmark with direct competitors for benefits comparison and advise the benefit schemes to managers / leaders for consideration

- Evaluate, Design and upgrade benefits based on functional and business needs

- Design Variable Pay Programs for sales and non-sales business lines within the business requirement

- Oversee the communication flow within the organization with a view to ensure adherence to HR systems and procedures and collaborates with line managers

- Ensure compensation and benefits standards comply with company policies and other regulations or legislation

- Execution of appraisal process by ensuring completeness as per guideline and set timelines

- Execute and Administer Long term Rewards

- Build HR analytics as a practice to create reports and dashboards to generate key insights for the review, execution and administration of a variety of compensation policies and programs

- Work closely with HR Operations to build robust processes and compliance mechanism. Also, provide support to HR Operations for Payroll & Benefits administration and processing

- Identify issues and areas of improvement proactively and introduce specific initiatives and implement these in the organization

- Ensure compliance with Data Privacy and Protection Guideline

Must Haves:

- Strong knowledge & analytical skill in compensation and benefits concepts

- Team Management Skills

- Excellent communication skills

- Computer skill in Microsoft Word, Excel, and PowerPoint

- Positive attitude, energetic, self-direct, well organized, details oriented

Women-friendly workplace:

Maternity and Paternity Benefits

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