Kotak Life Insurance - Assistant Vice President - Compensation
Posted 1 month ago
Posted 1 month ago
Assistant Vice President - Compensation
Description:
Position: - Assistant Vice President
Grade: - L6
Office Location: - Goregaon East IT Park
Key Responsibilities:
- Conduct market research and analysis to benchmark compensation packages against industry standards and competitors.
- Participate in salary surveys to gather external market data, identify trends, outliers and recommend area for improvement & adjustments and ensure the organization's compensation practices remain competitive
- Prepare reports and recommendations based on compensation analysis to support decision-making.
- Assist in the development, administration, and communication of compensation programs, including salary increases, bonuses, and incentives.
- Develop and manage the compensation and benefits management budgets. Monitor expenses and optimize resources to achieve departmental goals.
- Assist in the evaluation and classification of jobs within the organization to ensure internal equity.
- Review job descriptions to determine appropriate salary ranges and job classifications.
- Maintain accurate job documentation and salary structures.
- Provide guidance to HR and managers on salary-related matters, including salary offers, promotions, and adjustments.
- Ensure that compensation practices adhere to legal requirements and industry standards. Stay informed about changes in labour laws and relevant regulations related to compensation.
- Maintain accurate and up-to-date compensation data in the Human Resources Information System (HRIS) or compensation database.
Education: - Graduate/Post Graduate
Work experience in years:
- 5+ years working experience on Compensation & Benefits or Analytics.
- In-depth knowledge of compensation principles, performance management best practices, and relevant employment laws.
- Expert knowledge in Excel, PowerPoint (making and delivering presentations)
- Ability to develop and maintain effective working relationships with various stakeholders.
- Proficiency in HRIS (Human Resources Information System) and data analysis tools.
- Quick response time to queries
- Collaboration in working with cross functional teams and solution oriented behavior
Skills / experience required:
- Reports, analytics and MIS and data driven decision-making skills.
- Excellent communication and interpersonal skills.
- Problem Solving and Critical Thinking, Collaborative, Influencing Skills
- Strong Networking skills
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