Principal Consultant at Talent Leads Consultants
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Senior Manager/AVP - Compensation & Benefits - BFSI (4-5 yrs)
Salary Offered : 9.50 LPA
1. Job Purpose Statement (Summarise in one/two statements why this job exists and the contribution makes to the overall business of the company.)
To provide support to HR Operations in relation to all aspects of:
- Designing, Implementing, Controlling and Monitoring Compensation Policy & Total Rewards Framework
- Implementation of Related processes compensation for all Incentive/ Bonus/ Performance Pay Plans within the Statutory Framework
- Ensuring Compensation Data Management & Timely Flow to Payroll
2. Duties and Responsibilities (List in the order of responsibilities of this job)
Compensation and Benefits :
- Responsible for the delivery of Compensation-related processes monthly, including processing of Incentives Mthly/ Qtly / or any special incentive, Leave Encashment, statutory bonus cycles are run smoothly, ensure all compensation activities are undertaken correctly accurately and as per timelines.
- Responsible for Annual Compensation.
- Ensuring state wise Statutory Minimum wages are met.
- Responsible for implementation of different compensation projects i.e. market benchmarking, policy benchmarking, deriving inferences and suggesting suitable adjustment to the Management and implementing the same.
- Designing compensation for promotion cases.
- Responsible for successful implementation of Total reward framework.
- Develop and execute implementation/communication strategies for any plan changes and other benefits initiatives.
- Resonsible for researching, resolving and responding to benefits queries and escalations from employees, the HR function, and management.
- Responsible to ensure and provide necessary data monthly, including new hires, salary change etc for payroll process (including pre- payroll) is run effectively and timely as per pre- defined time lines.
- Maintaining Compensation data in SAP.
- Benefit Management
- Employee benefits - transfers/ deputation/confirmation
- Audit Process
- Carrying out periodic audit of the HR process
- System audit