SKF - Deputy Manager - Total Rewards

JOB TITLE: Deputy Manager - Total Rewards

Role Type: Individual Contributor role

Any Geographical restriction: Pune

A. Purpose of the role:

- Ensures cost efficient and market-driven compensation procedures and standards for all SKF companies in India

- Ensures that the Compensation practices remain in line with the market and the global SKF compensation practices

- Provide analytical support and consultancy to the HRBPs

- Supports preparation and execution of annual compensation processes

B. Responsibilities :

1. Compensation Expertise:

- Provides support based on solid knowledge of compensation-related topics and provides support in preparation and execution of annual compensation processes

- Under supervision, analyzes and monitors market trends to ensure compensation programs are competitive

- Manages the company participation in benchmarking salary surveys and maintains results files as support for compensation analysis requests

- Develop or enhance the compensation programs such as Sales incentive, phantom stock programs etc.

- Good knowledge of statutory laws related to the compensation programs.

2. Compensation Analytics:

- Provides in-depth analytical services on topics such as, internal and external equity cost of labor, pay trends, recommendations on salary packages, salary increase guidelines, etc.

- Conducts job evaluation and grading activities, responding to the evolution of the business and the organization changes, and review benchmark positions accordingly.

3. Compensation Consultancy:

- Consults with human resources business partners and managers on compensation actions to ensure alignment with policy and business objectives.

- Develop and deploy educational/training programs and materials to equip HR partners with fundamental of total rewards to enhance their effectiveness in consulting with managers and supporting key initiatives.

4. Benefit Administration:

- Design a competitive benefit strategy and execute the annual group insurance policies

- Introduce innovative and competitive benefits to attract and retain talent.