Bajaj Electricals - Specialist - Compensation & Benefits

Compensation & Benefits- Specialist

Job Purpose & Scope: Part of the compensation and benefits function responsible for employee benefits, performance management, HR policies, rewards and recognition and annual appraisal process.

Major Areas of Responsibilities & Authorities:

- Ensure smooth deployment and maintenance of key employee benefits. Participate in benchmarking studies to ensure competitiveness of our benefits.

- Design skill-based hiring ranges based on internal and external market inputs.

- Deliver value through Total Rewards Strategies, policies and solutions that enhance the attraction and retention of top talent.

- Incubate, implement and drive various compensation programs including Market Benchmarking, Merit Increase, pay for performance programs and compensation planning etc. for diverse job profiles.

- Support the design and execution of annual performance management process for the assigned business. Act as an SME and guide the HR generalists and line leaders in defining objective business, team and individual level scorecards to strengthen the performance management architecture.

- Manage the implementation of relevant HR policies and programs within the business and coordinate the relevant key strategic processes

- Design and program manage the Annual Compensation Review cycle for Manufacturing entities to ensure complete budget management and timeline adherence.

- Liaise with Finance and Payroll team for smooth administering of total rewards programs

- Guide new HR business partners on the compensation philosophy of the organization, salary structure and variable pay, allowances and increments

- Identify opportunities for improvement and consult with the leaders to agree on solutions. Imbibe a culture of continuous service improvement.

- Experience in managing compensation through systems (SAP) and an understanding of automation of compensation module ,performance management and employee central will be an added advantage.

- Drive Rewards and Recognition program and other employee engagement initiatives.

Experience : 4 to 7 years of experience in total rewards covering compensation and benefits operations, designing rewards programs and solutions that align with unique needs of business.

Location- Sion (Mumbai)