Kotak Life Insurance

2 weeks ago

Mumbai, India Kotak Life Insurance Full time

Assistant Vice President - - Assistant Vice PresidentGrade: - L6Office Location: - Goregaon East IT ParkKey Responsibilities:- Conduct market research and analysis to benchmark compensation packages against industry standards and competitors.- Participate in salary surveys to gather external market data, identify trends, outliers and recommend area for improvement & adjustments and ensure the organization's compensation practices remain competitive- Prepare reports and recommendations based on compensation analysis to support decision-making.- Assist in the development, administration, and communication of compensation programs, including salary increases, bonuses, and incentives.- Develop and manage the compensation and benefits management budgets. Monitor expenses and optimize resources to achieve departmental goals.- Assist in the evaluation and classification of jobs within the organization to ensure internal equity.- Review job descriptions to determine appropriate salary ranges and job classifications.- Maintain accurate job documentation and salary structures.- Provide guidance to HR and managers on salary-related matters, including salary offers, promotions, and adjustments.- Ensure that compensation practices adhere to legal requirements and industry standards. Stay informed about changes in labour laws and relevant regulations related to compensation.- Maintain accurate and up-to-date compensation data in the Human Resources Information System (HRIS) or compensation database.Education: - Graduate/Post GraduateWork experience in years:- 5+ years working experience on Compensation & Benefits or Analytics.- In-depth knowledge of compensation principles, performance management best practices, and relevant employment laws.- Expert knowledge in Excel, PowerPoint (making and delivering presentations)- Ability to develop and maintain effective working relationships with various stakeholders.- Proficiency in HRIS (Human Resources Information System) and data analysis tools.- Quick response time to queries- Collaboration in working with cross functional teams and solution oriented behaviorSkills / experience required:- Reports, analytics and MIS and data driven decision-making skills.- Excellent communication and interpersonal skills.- Problem Solving and Critical Thinking, Collaborative, Influencing Skills- Strong Networking skills (ref:iimjobs.com)

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