SBI Mutual Fund - Assistant Manager/Deputy Manager - Compensation & Benefits

Assistant Manager/DeputyManger - Compensation & Benefits

1. Compensation & Benefits

- Responsible to administer annual appraisal & annual increments cycle.

- Responsible for processing annual PLI

- Evaluate the current PLI policy in view of best practice across the industry.

- To maintain industry data on annual increment and incentive trends.

- Maintain the budget for employee costs and periodically review the same.

- Evaluate long-term incentive plans for employees.

- Responsible for the administration of the existing ESOP plan.

- Responsible for annual salary benchmarking survey.

- Work on the total reward & effective employee communication around the same.

- Work on the Compensation philosophy statement.

- Responsible for renewal of Mediclaim & Term life insurance.

- Evaluate existing employee benefits and their efficacy.

- Benchmark employee benefits programs across the industry and introduce best-in-class benefits programs for employees.

- Design and implement a strategy for effective communication of benefits.

- To ensure that all statutory requirements related to compensation are mth.

- Work on assignments like job evaluation, job sizing and productivity analysis etc.

- Responsible to assess implication of new wage code and its implementation ( if any)

2.PMS

- Review the PMS process to ensure that the process drives higher performance in the organization.

- Measure organization-level productivity and benchmark it with industry

- Improve employee satisfaction score on the PMS process.

- Develop various communication to improve awareness amongst employees regarding the PMS process.

- Ensure that employees and managers are trained for setting SMART Goals, assessment of goals and performance review discussion process.

3. HR Policy

- Review HR policies at regular intervals.

- Benchmark best practices across the industry and adopt those practices as per organization requirements.

- Ensure that all HR processes have defined SOPs

- Regular communication and awareness about HR policies to be done with employees.

4. HR Analytics & Data Management

- Prepare & present Compensation analysis and Dashboards.

- Prepare a template for Comp analytics.

- Detailed analysis of manpower cost and its comparison with other AMCs.

5. Projects / Process improvements

- Evaluate all existing processes of HR Ops to check their efficiency.

- Define TAT & quality level of HR delivery.

- Automation project in comp function

- Work on automation of employee queries on policy.