Head - Total Rewards - Financial Services Firm

Our client is a leading entity in the Financial Services space with a headcount of 20,000+ is looking to hire a Total Rewards Head to look after entire portfolio Compensation, Benefits, Rewards, and PMS.

Key Responsibilities:

1. Compensation Management:

- Develop and implement competitive compensation strategies, structures, and policies.

- Conduct regular market benchmarking and salary surveys to ensure competitiveness.

- Oversee the job evaluation process and manage job grading and salary structures.

- Administer salary increase processes, including merit increases, promotions, and market adjustments.

2. Benefits Administration:

- Design, implement, and manage employee benefits programs, including health, wellness, retirement, and insurance plans.

- Evaluate the effectiveness of current benefits programs and recommend enhancements.

- Ensure compliance with all legal and regulatory requirements related to benefits

3. Performance and Recognition:

- Develop and manage performance management systems and processes.

- Implement employee recognition programs to promote engagement and motivation.

- Monitor and evaluate the effectiveness of recognition programs and make improvements as needed.

4. HR Analytics and Reporting:

- Utilize HR analytics to monitor the effectiveness of total rewards programs.

- Prepare and present reports on compensation and benefits metrics to senior management.

- Provide insights and recommendations based on data analysis.

5. Employee Communication and Education:

- Develop and implement communication strategies to educate employees about total rewards programs.

- Conduct training sessions and workshops to ensure understanding and engagement with rewards programs.

6. Vendor Management:

- Manage relationships with external vendors and consultants for compensation and benefits programs.

- Negotiate contracts and agreements with service providers to ensure cost-effectiveness and quality.

Candidate's Profile

Education : Tier 1 or Tier 2 College Only

Years of Experience : 10 to 12 Years with core experience of 5 to 6 years into Total Rewards

Industry preference : BFSI, Legacy Companies, FMCG, Pharma, Auto, (with headcount of 15-20K and above)

Must have : Team management experience, should have maturity and capability to handle senior stakeholders, all aspects of Comp, Ben, Rewards, PMS.

Location : Mumbai