Compensation & Benefit Role - NBFC (5-10 yrs)

1 month ago

Mumbai, India iimjobs Full time

Compensation & Benefit - NBFC


Compensation & Benefits:

- Design, develop & implement Global Rewards solutions for all businesses.

- Ensure Competitiveness of Reward Programmes, design the reward philosophy and keep it contemporary. Ensure comprehensive compensation benchmarking and alignment of compensation structures.

- Undertake benefits and best practices in rewards benchmarking in India and other countries like US, Canada, UK and European Markets.

- Design innovative rewards programmes to enhance the EVP and instill a Performance culture.

- Revamping Recognition Programme. Sales incentive redesign, retention Plan for top performers and critical talent, etc

- Liaise with external agencies such as Aon Hewitt, Mercer, Towers Watson etc. To conduct market assessments/ benchmarking and compensation consulting in line with business needs.

- Responsible for proposing and executing change with respect to C&B policies and guidelines

Performance Management:

- Reviewing and redesigning the Performance Management process in alignment with best industry practices and driving Performance Driven culture in alignment to our vision.

- Responsible for managing the KRA setting process, mid-year review andyear end annual review cycle as process custodian, working closely with Business HR to ensure that process standardization and timeline adherence is achieved.

- Publish the Goals & STI Setting Calendar, Facilitate Quality Audit of Goals & STIs Sheets within timelines

- Planning and implementing Corporate Training Calendar with respect to PMS implementation and guidelines. And the requisite cascades/ communication is as per plan

- Process Champion for the Online Performance Appraisal process of the organization. Responsibilities include inducting employees on the appraisal process, developing an online system, assisting managers with implementation of the process, conducting calibration meetings with HOD's and handling employee's queries and anxieties

- Creating Competency framework and responsible for job analysis/ evaluation as and when required for new positions/ promotions/ ungraded roles etc.

- Job Analysis Workshops; Evaluation of jobs using Mercers methodology.

- Partner with Business Hr and Business Heads for initial diagnosis assessment-existing Organization Structure & grades; Analysis of job roles (Job Analysis), design new or modify existing structures/ grades to align with business needs. Identification of critical resources.

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