Senior Associate at Vitasta Consulting
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Team Member - Compensation & PMS - Auto/Construction/Infra (4-8 yrs)
Team Member Compensation and PMS
Rewards & Policy:
- Implement market benchmarking for compensation; define standards of output expected (including comparator basket, defining standards and heads of comparison) and communicate the same to compensation consultants.
- Analyse competitive market data and develop recommendations for updates to job architecture, salary structures and bonus targets as appropriate; propose salary increase budgets.
- Evaluate the effectiveness of current compensation programs; Ensure that the organization maintains equity internally, and is externally competitive with wages and salaries.
- Ensure the implementation of variable pay programs ; establish pay performance linkage.
- Execute the compensation review cycles for the Business Unit as per Group guidelines and calendar.
- Implement and administer various Compensation programs including short term and long term incentive plans
- Support in policy reviews and Address queries / grievances related to compensation, incentives and policy interpretations among employees in the Business and Units.
- Implementing and ideation on initiatives for building a culture of high performance
- Ensuring goal audits & analysis are being done and suggesting changes which are in line with Group Strategy, Purpose etc.
- Collaborate with Function Heads and Mid senior level managers to ensure that the performance management process is completed in time and share guidance on how is it to be done on system.
Job Analysis & Evaluation:
- Support in managing the organizations' Job Analysis and Evaluation programs and ensure that all jobs up to date, evaluated and graded.
- Implement tools for job analysis, organization structure analysis to improve overall structure efficiency and control costs.
- Manage HR Budgets and Costs
- Consolidate and manage HR budget for the year in coordination with various teams
HR Dashboards & Analytics:
- Track critical HR metrics pertaining to Rewards, Performance & Job Evaluation on a regular basis; ensure action planning for bridging discrepancies.
- Engage with and provide periodic reports to stakeholders as may be needed.
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