Our Client is a well known financial services firm scouting out for a Compensation & Benefits Specialist
Job Location : Mumbai
Job Deliverables:
Compensation:
- Participate in Comp and Ben surveys & Create a Robust Comp and Ben philosophy
- Analyse performance ratings, distribution curve and promotion recommendations
- Provide regular update on the rating summary pre / post performance appraisal to the Functional Heads
- Support in preparation of compensation related proposal and salary increments simulations to facilitate compensation decisions
- Execute compensation revision (increments) as well as variable incentive plans for onroll and offroll employees, including roll out of compensation review letters
- Execute compensation revision activities on system for Onroll employees including managing related activities, managing Performance management and compensation modules
- Analyse current PMS and suggest / implement changes in PMS as and when required
- Incorporate and map salary surveys data position wise to ensure internal data is in line with market data
- Work on bonus & incentive structures/ plans for all functions
- LTIP, ESOP's and other long term retention schemes
Workforce Planning:
- Working knowledge on strategic workforce planning, job analysis, job evaluation & job design
- Provide wage cost analysis with YTD actual and budgets
- Plan & track comp & ben costing with respect to Manpower budgets for the year
Benefits:
- Review & update existing policies
- Study industry policies & proposal to align to the market
- Work closely with Operations for monthly updates, budget impact
Other Areas:
- Administer fair and robust Performance Enhancement Program across the organization for low performers
- Managing regular employee communication with respect to C&B policies and processes
- Ensuring processes related to data management on HRMS and other data platforms are adhered to and also processes are updated as and when required
- Work on structuring the compensation for international mobility in & outside the country, in alignment with the group norms
Stakeholder Management - Regular interaction with HOD's, Finance & the other stakeholders
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