Lodha Group - Specialist - Compensation & Benefits

Annual Performance Review :

- Responsible for preparations leading up to the performance review process including analyzing existing compensation in the organization, benchmarking compensation with the market and reviewing organization standpoint on compensation and increments

- Responsible for compiling the budgeting sheet comprising of basic rules about the compensation process and detailed costs after approval from the CEO

- Responsible for detailing individual rules for various segments (or cuts) as per respective HOD / HOC domain for building discussions on compensation

- Handle requests and discussions on exceptional compensation requirements by HOD / HOC as per the rules drafted within the budgeting sheet

- Co-ordinate with PMS team to iteratively generate compensation fitment extracts basis recommended increments and promotions for different stakeholders, hold discussions with relevant stakeholders regarding fitment, escalating to HR Head when required and ensure that all exceptional cases have been properly discussed over with relevant stakeholders till the final compensation figures are agreed

- Manage review and updation of rules concerning individual components of compensation after discussions with the HR Head once the finalized compensation data has been entered into the system

- Responsible for creation of sheets detailing bonus payouts in co-ordination with PMS team, basis pre-set rules for performance bonus at the end of the FY

- Review sheets detailing compensation of confirmed associates including standard confirmation hikes

- Co-ordinate with payroll team on payouts of fixed pay, bonuses and incentives to ensure timely disbursal of pay to all associates as per agreed timelines

Compensation Philosophy & Structure :

- Manage formulation and updation of broad themes in the compensation structure basis inputs from senior organization stakeholders

- Manage discussions around compensation philosophy including broad guidelines or red flags identified during compensation review such as internal parity, band flexibility for external hires and premium to be paid for critical talent

- Responsible for translating compensation philosophy into practice by restructuring, discussing and -updating / tweaking rules for various elements of compensation after discussions with relevant stakeholders

Talent Acquisition Support:

- Manage senior management offers which comprise of complicated compensation structures by ensuring parity with earlier compensation as well as internal parity with compensation of other senior management members in the organization

- Maintain continuous support to TA by frequently revising and making available rules regarding offers across bands including changes in the compensation format to ensure complete transparency in our compensation break-up to all potential new recruits

- Ensure disbursal of relevant information such earlier performance reviews and compensation details to TA for re-hiring ex-associates

Critical Talent Retention Schemes:

- Build, manage and administer changes to critical talent pay structure such that compensation levels for key talent within the organization are maintained at similar levels irrespective of changing talent management structures

- Ensure competitive compensation for critical talent by implementing necessary corrections to compensation if required, especially for exceptional cases, after discussions with the HR Head and other concerned stakeholders

- Manage compensation correction requests from department head on associates responsible for areas of crucial importance to a project or to the larger organization at relevant times

External Market Analysis :

Manage and contribute to various external surveys from different consulting studies in co-ordination with other HR cells and utilize received compensation figures from these studies on aspects like increments given, variable pay, performance ratings, sector, geography, departments and level of employees in formulating and applying rules to our compensation system