Senior Associate - Compensation & Benefits - BFSI/IT

Senior Associate- Compensation & Benefits

Role Responsibilities Total Rewards (Responsible for Benefits, Policies & Incentives) :

- Be the specialist on HR Policies, Incentives, Recognition & Benefit programs to meet the business & talent needs.

- Develop, implement, administer & maintain benefits programs, policies, and procedures. Ensures programs meet employee needs, comply with legal requirements and are cost effective.

- Management of Benefits Service Providers like Insurance Brokers, TPA, Insurance Cos, Car / Asset Leasing Companies, Banks, etc.

- Manage preparation and delivery of communication and education materials for compensation and benefit programs.

- Partnering effectively with multiple functions like Sales, Supply Chain, Accounting & Tax on design & implementation of incentives programs for Sales & Production. Total Rewards (Learning / Supporting Role).

- External Benchmarking: Analyse current rewards programs to ensure they align with our business strategy, market competitiveness and cost-effectiveness of our compensation and benefit plans to ensure that our rewards programs optimize our ability to attract top talent.

- Maintain current knowledge of related government rules and regulations & fulfils compliance and reporting requirements.

- Utilize experience/understanding in responding to compensation & benefits trends and market data points, while tying them to corporate objectives and ensuring legal compliance and sound governance.

- Recommend revisions or new plans that are cost effective and consistent with the compensation strategy and philosophy.

- Provide insight and practices from outside to stretch internal thinking/practices and advise internal users on current and future market capabilities.

- Coordinate & facilitate implementation, communication of strategy and programs and maintenance of compensation & benefits plans and policies with/to all levels of the company. HR & Reward Analytics.

- Conduct analysis of compensation and benefits programs to evaluate internal equity, external market competitiveness, and legal compliance of the organization's corporate compensation and benefits structure and practices.