Assistant Manager - Compensation & Benefits - Insurance

Position Title : Asst. Manager Compensation & Benefits

Department : Human Resources - Employee Services

Role Summary:

- Must have worked independently on Increment Cycle and Market Benchmarking

- Extensive experience in Salary Revision exercise and Long-Term Incentive plans design, plan and execution.

- Manage Payroll Input, Monitor Statutory deductions and compliance related laws

- Use HRMS system effectively for PMS, merit management and budgets,

- Manage HC and Cost Budget for the organization,

- Guide Flexi Benefits to employees, help to understand Tax calculations as per taxation rules/ sections, Understands flexi components and taxable benefit such as Car and related components, Meal coupons, Business Attire allowances, etc.

- Use innovative ideas while preparing presentations, HR analytics, etc.

- Design and iterate compensation policies for all job families in the region to ensure external competitiveness and internal equity, through research on compensation policies and practices of leading companies, as well as internal data analysis.

- Monitor local regulations & legislation, and work closely with legal to make sure C&B policies comply with applicable local, state and federal laws.

- Manage Promotion/Salary review projects.

- Provide recommendations to business key stakeholders in tackling difficult cases in the area of compensation, incentive plans, benefits for employee's motivation in order to achieve their business goals.

Key Result Areas:

- Prepare Comp & Benefit Budgets

- Participate in Compensation and Benefit Benchmark study

- Study the reports and prepare presentation based on analysis from Benchmark study

- Suggest innovative ideas basis market study

- Prepare HC and Cost Budget

- Prepare Actual Compensation Revision cycle for the organization on excel as well as system base

- Prepare CTC calculator/ distribution files considering various factors.

- Manage end to end process of salary Revision simulation to letter generation and updation in system

- Management of existing process linked with Payroll management

- Participate in Process Audits

- Recommend enhancements in Comp & Ben area

- Timebound reporting - Statutory and MIS preparation

- Participate in risk mitigation plans, contingency planning, business continuity programs by executing and reporting within defined timelines. Highlight and recommend process gaps, flaws and process changes.

- Participate in renewal process of different benefit policies such as GMC, GPA, GTL, EDLI

- Use and extend network for Market insight

- Closely work on Long Term Incentive programs for Employees

- Closely work on HR budgets and monitor with the help of F&A

- Work in digital space and Drive HRMS initiatives and different modules

- Work closely on Flexi Benefits Plan and enhance effectiveness

- Prepare Hiring ranges and shadow dashboard

- Work closely on HR policies and SOP

- Participate in Employee Engagement Activities at Organization Level

- Participate in Employee Retention strategies and programs, prepare mid-term letters

- Prepare and monitor Org Structure in system perspective

Technical :

- Proficient in MS office - Excel, word and Power point

- Oracle base application

- People strong base application

- Mathematical and Logical reasoning, Solution oriented