Practo - Senior Manager - Compensation & Benefits (7-12 yrs)
What if, instead of a job, you had a mission? A mission to create the future of healthcare alongside a team of brilliant, passionate people, on a canvas that touches billions of consumers around the world?
It's what we do at Practo.
Practo is made up of people from diverse backgrounds, united by our mission to help people around the world live healthier, longer lives by simplifying ways to be healthy. Our culture revolves around first principles thinking that leads to daring ideas and we have the freedom and opportunity to turn these ideas into reality. We are dedicated to improving healthcare access for everyone and leaving the world better than we found it.
Position: Sr. Manager Total Rewards
Total rewards Strategy
- Co-create and design the compensation philosophy for the organization
- Continually benchmark with peers and competitors on market practices and ensure continuous fine tuning / improvements & innovation where possible
- ESOP plan design as integral part of total rewards
- Ensure availability of regular market intelligence with respect to compensation and benefits, and mapping the same to internal and external skills
- Evaluate competitor compensation and benefits packages, and factor the same suitably in internal plans
- Anticipate trends and advise business proactively on steps to be taken
- Design & Administer Pay ranges for Hiring across all locations & roles
- Design & administer employee friendly compensation structure (Fixed V/s Variable & Tax friendly)
- ESOP plan administration and implementation
Compensation Annual Review cycles
- Support the Business HR to build a robust Performance Management Framework
- Support Business HR with data and approvals on Annual cycles
- Manage the increment cycles including mid-cycle reviews, corrections, etc
- Regularly monitor and advise based on utilization ratios of benefits
- Ensure current-cy of all insurance policies, etc
- Mediate between benefits providers and employees, such as by assisting in handling employees' benefits-related questions or taking suggestions.
- Administers employee insurance, pension and savings plans and works with insurance brokers with consultants (as required)
- Monitor the payroll activity to ensure timely payout to employees on time every time with zero errors
- Monitor payroll interface to ensure compliance and data integrity
- Ensure 100% compliances across locations, including international locations
Rewards & Recognition
- Partner with Business to Design Incentive programs aligned to drive required business behavior.
- Design and continuously improve the RnR framework at the company to boost meritocratic reward culture
- Support Talent Acquisition & HRBP in Career Framework Design (includes creating JD- s, role clarification, job evaluation, grading, competency framework [behavioural and technical]), job positions to determine classification and salary.
- Ensure that the company's policies, procedures and programs are in alignment with the company's compensation strategy.
- Support the development & management of HRIS systems to enhance Practo's HR reporting & analytics capabilities
- Manage the HR service desk and ensure timely and satisfactory resolution of queries. Improvise on the TAT and experience periodically
- Partner the onboarding activity with Talent Acquisition team and HR Business partnering team
- Prepare and communicate effectively and appropriately (either directly or through Business Heads) to inform employees of benefits, compensation, and HR policies.
- Handling peak team of 4 people
- Handling a team of HROPS and Service desk and takes bottom-line on the deliverables
- Owning up appraisal and mentoring of the team and growing them towards success vertically/laterally