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01/04 Shweta
Director at Connections India

Views:470 Applications:97 Rec. Actions:Recruiter Actions:25

Head - Rewards - Life Insurance (12-15 yrs)

Delhi NCR Job Code: 1072326

Connections is an Executive Search Firm catering to Pan India requirements. At present we are looking for Head Rewards in a leading Insurance Company.

Position : Head- Rewards

Job Description: This role will be responsible for supporting implementation of broad range of reward practices & policies for the organisation. This role is a key subject matter expert of the Compensation and Benefits functions locally; the role provides local insights, consultation and advice to Human Resources Business Partners and the senior business leaders as required.

Supervisory Responsibilities

- This position will have 3-4 people reporting.

- Will have to partner closely with Business HR Team & COE functions i.e., OD & L&D, HR Services & Talent Acquisition Team

Key Responsibilities

- Conceptualise, lead, and manage all compensation and benefits programs (PMS, annually salary survey, merit increase, Bonus & CXO Compensation design, Retention Program, Promotions etc.), and deeply understand business strategy and support businesses to propose, design and implement the total compensation solution to attract & retain talent in the Company.

- Closely monitor the market trends, constantly improve the effectiveness of the C&B system, and interact with market/businesses on the major changes and surging trend in LI space.

- Review & renew our compensation plans with monetary and non-monetary benefits based including but not limited to Group Term Insurances, Vehicle policy, Mediclaim policy, Loans Policy, wellness program etc on employee needs

- Acts as an SME on job evaluation, grading system etc. to provide timely support for BU

- Participate & network with LI Companies in annual merit cycle including guideline, process etc.

- Monitor and evaluate the company's benefits programs & HR Policies and improve the benefits programs (not limited to above) to meet the local people plan within Company's stated principles, also to optimize the people cost investment

- Lead the internal HR working group to have a good alignment and achieve synergy and support the C&B project communication to foster a common understanding of the rewards policies in all businesses across levels.

- Provide coaching and counselling to BHR, HR managers and business leaders in the Company.

- Play an expertise role from the view of local statutory legislation in C&B policy development

- Management of external HR service vendors to ensure their service delivered on time and at a qualified standard; centralize appointment of vendors to maximize cost-savings, efficiency, and improvement productivity

- Support BU on C&B compliance against internal policies and government requirements

- Will lead the entire PMS Process for the Company

- Will lead, manage, supervise & oversee the entire Payroll function for the Company.

- Responsible for creating & establishing norms for job mapping, job evaluation, Job grading, JD management for entire Company.

Qualifications:

- MBA, preferably in HR/Graduate in Economics/Mathematics, consulting background plus corporate HR background

- 12-15 years compensation & benefits experience in Life Insurance/NBFC Banking environment

- Should have exposure on Regulatory requirements especially for CEO Compensation guidelines in IRDAI

- Good understanding of local law of employment, benefits, taxations, and labour market trends

- Good at English fluency in both written and spoken

This job opening was posted long time back. It may not be active. Nor was it removed by the recruiter. Please use your discretion.

Women-friendly workplace:

Maternity and Paternity Benefits

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