Bajaj Electricals Ltd | Compensation Benefits Specialist | mumbai

3 weeks ago

mumbai, India Bajaj Electricals Ltd Full time

Bajaj Electricals Limited (BEL), a globally renowned and trusted company, with a turnover of ₹4813 crores (FY 21-22), is a part of "Bajaj Group". Our business includes Consumer Products (Appliances, Fans, Lighting), Exports, Illumination and Transmission & Distribution (Transmission Line and Power Distribution). Our strong presence in the premium range of home appliances and cookware with brands like Morphy Richards and Nirlep makes us one of the most lovable brands for our consumers.


Job Purpose & Scope

Part of the compensation and benefits function responsible for end-to-end management of employee benefits, rewards and recognition, flexi compensation models into system and maintaining payroll trackers.


Major Areas of Responsibilities & Authorities

Insurance:

  • End to end Administration of GMC, GPA, GTL, EDLI & FSG policies of company via Brokers / Insurer and being a point of contact in BEL for employees
  • Monthly addition, deletion and changes to be shared with broker ensuring all employees and their dependents are covered under company insurance policies.
  • Maintaining insurance master list including documents for audit.
  • Conducting Wellness sessions via external partners by coordinating with relevant stakeholders.
  • Conducting regular audit to check if employees and the dependent are added and are part of respective policies.
  • Participating in benefits survey and presenting results to Vertical Head – Performance and Rewards.

Wellness:

  • Manage end to end wellness calendar from designing annual calendar specifically for BEL along with Broker to implementing it on monthly basis.
  • Conducting Medical camps across Corporate and Plant once a year.

PMS:

  • End to end management of PMS from Goal Setting stage to Annual Appraisal and Letter release.
  • Working on testing the forms in SuccessFactors and launching Goal Setting, Mid-year and Annual forms as and when required.
  • Working on Increment and Incentive calculations.

Flexi Benefits:

  • Retirals management like NPS, Superannuation via flexi compensation system into SuccessFactors.
  • Manage flexi allocation for all employees during annual exercise including compensation structure. Roll out flexi plans for new joiners and update SuccessFactors / payroll records.
  • Promote benefits program within company via mailers, cascade sessions.
  • Experience in managing compensation through systems (SAP) and an understanding of automation of compensation module, performance management and employee central will be an added advantage.
  • Liaise with Finance and Payroll team for smooth administering of total rewards programs

Reward and Recognition:

  • End to end management of Reward and Recognition program including logistics (Spot award, quarterly, annual, long service award, Retires award and any special category award for respective year)
  • Drive Rewards and Recognition program and other employee engagement initiatives

Reports, Policies & Analytics:

  • Generate reports via SAP and further analysis on attrition, performance management and C&B area.
  • Manage the implementation of relevant HR policies and programs within the business and coordinate the relevant key strategic processes
  • Guide new HR business partners on the compensation philosophy of the organization, salary structure and variable pay, allowances, and increments
  • Identify opportunities for improvement and consult with the leaders to agree on solutions. Imbibe a culture of continuous service improvement.

HRBP for HR:

  • Managing task of Appointment Letter, Confirmation & Exit and any other task required as per the role.


Qualification:

Desired: MBA in Human Resources from Tier 2 / Tier 3 institute


Requirements:

4 to 7 years of experience in HR Operations / C&B area covering compensation and benefits operations including salary structure, flexi modules, administration of benefits program, communication of benefits, policy drafting, HR system testing, coordinating with Partners on system design, testing and implementation of C&B, Performance management and benefits program.

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