Specialist - Rewards & Benefits

4 weeks ago

mumbai, India Aptia Group India Full time

Job Responsibilities:


General context for the role:

  • role operates within the company’s reward philosophy, reward principles and existing programs and processes. The focus is on the application of these processes and the execution of the reward programs. Guidance will be given by the direct line manager on the scope of activities to be carried out.
  • role has a global scope to support and execute our rewards programs globally across UK, US, Portugal and India


Global Compensation & Recognition

  • Maintain global salary ranges, including annual market review, ageing of salary scales, and accurate reflection in Workday HRIS
  • Maintain job family framework and job profiles, act as point of advice to People Business Partners and People Operations on appropriate use of job profiles in Workday
  • Ensure accurate provision of compensation data to external salary surveys
  • Execute compensation strategies, ensuring alignment with the overall business objectives, competitive market practices & group policies.
  • Provide advice to People Business Partners and the business on compensation by conducting regular market analysis to benchmark compensation levels & recommend adjustments as needed to attract & retain top talent.
  • Utilize Workday, HR analytics & data driven insights to assess the impact of compensation & benefits programs on employee satisfaction, engagement, & retention.
  • Develop clear & informative communication materials to educate employees about their compensation & benefits packages.
  • Present analytical reports to the senior leadership team & provide actionable recommendations.
  • Prepare reports and analysis on usage of recognition policy to help ongoing monitoring of effectiveness
  • Ensure all compensation & benefits practices are in compliance with relevant laws & regulations.
  • Stay updated with changes in employment laws & industry trends to adapt & revise policies accordingly.


Annual Compensation Cycle

  • Prepare analysis and forecasts on annual salary increases
  • Manage accruals on performance-based incentive programs to ensure alignment with Finance team
  • the testing and readiness of Workday advance compensation module to run annual compensation cycle on merit, variable pay and long-term incentive programs
  • communications briefings for People Business Partners, and compensation planners throughout the cycle
  • analytics during annual compensation cycle to support reporting on spend and variances


Benefits Management

  • Support the administration of employee benefits programs, including health insurance, retirement plans, & wellness initiatives.
  • Collaborate with benefits vendors to negotiate & maintain cost-effective programs that provide maximum value to employees.


Mobility

  • international mobility policy by supporting global rewards team & People Business Partners with preparation and execution on international assignments
  • accurate set-up of international assignments in Workday


Experience & Qualification:


  • Strong analytical & problem-solving skills.
  • Excellent interpersonal abilities to build relationships with employees, vendors, & cross-functional teams.
  • High ethical conduct when handling sensitive compensation & benefits information.
  • High attention to detail.
  • Team-oriented approach with a willingness to collaborate & work effectively with HR, finance, & other departments.
  • Proficient with Workday/ HRIS software
  • Good knowledge of developments & expertise in Rewards & Benefits.
  • Proficient skills in Office 365 Suite (Word, Excel, PowerPoint).
  • Proficiency in conducting compensation analysis, benchmarking, & market research.
  • Ability to use HR analytics & data driven insights
  • A minimum of 4-5 years of progressive experience in compensation & benefits administration in the insurance or financial services industry, including direct involvement in running annual compensation cycles
  • U.S MNC or large company experience is required.
  • Bachelor’s degree in Human Resources, Business Administration, Finance, or a related field.
  • A Master's & MBA degree is a plus.

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