Manager/Senior Manager - Compensation & Benefits - Insurance

JOB TITLE: Manager / Sr. Manager- Compensation & Benefits

LOCATION: Mumbai

LEVEL: Manager / Sr. Manager

Qualifination: MBA in HR

Experience:- 4-6 years of experience in HR with a specialization in Compensation

- Exposure in benefits management preferred

- Experience in designing and implementing diagnostic solutions is preferred.

REPORTING TO: Head - C&B

MAIN PURPOSE OF JOB: The incumbent will be responsible for leading the various projects under the C&B domain such as compensation benchmarking surveys, annual increment cycles, performance bonuses, sales incentives, etc.

END RESULTS / KEY ACTIVITIES

- Compensation Philosophy :

- Define a fair, equitable and competitive total compensation package that fits and is aligned to our company's strategy and business goals.

- Ensure that compensation practices are in compliance with current legislation.

- Annual Compensation Review Cycle

- Program manage the Annual Compensation Review cycle to ensure complete budget management and timeline adherence

- Use statistical methods and techniques to make data-based decisions on various aspects of compensations.

- Drive pay for performance through targeted variable pay programs including but not limited to Sales Incentive Plan, Annual Bonus Plans, LTI, and STI.

- Deploy effective communication strategies and success metrics.

- Benefits Management :

- Work with Head C&B to ensure smooth deployment and maintenance of key employee benefits.

- Work closely with internal procurement team in vendor management and renewals

- Work with Compliance Team to ensure adherence to all statutory compliance requirements

- Participate in benchmarking studies to ensure competitiveness of our benefits

- Benchmarking & Market Intelligence:

- Participate in salary benchmarking surveys to determine prevailing pay rates and benefits

- Conduct ongoing research into emerging trends, issues, and best practices.

- HR Analytics :

- Develop and set standards around key HR metrics with focus on analytics around compensation spends and wage management

- People Policy Framework:

- Develop a comprehensive policy framework covering all elements of an employee lifecycle in the organization.

- Ensure adherence to the published policy documents across the organization.

- Conduct periodic audits and prepare reports.

- Business As Usual:

- Work with other members of the team to ensure smooth delivery of C&B services to employees ranging from handling manager queries, partnering with HRBP to support business needs to process promotion and salary increase periodic cycles.

Catalysts Edutech Private Limited
www.orangecorp.in