Team Member

2 weeks ago

Mumbai India Piramal Group Full time

Job Description The HR CoE Rewards team is responsible for designing and managing total rewards strategies that align with business objectives and drive employee engagement for Piramal Retail Finance. The role will focus on designing and executing frameworks for annual headcount budgeting, variable pay programs, compensation benchmarking, and managing the performance management lifecycle in alignment with organizational goals. It will also support policy development and pay equity analysis to ensure competitive, fair, and compliant compensation practices across the organization. Key Responsibilities: 1. Headcount & Budget Planning - Drive the annual workforce planning and headcount budgeting process in collaboration with Business Heads, HRBPs and Finance - Analyze manpower trends, provide insights, and ensure alignment with business goals - Create and manage dashboards for tracking of headcount vs. budget 2. Compensation & Benefits Strategy - Design and implement the annual compensation review process, including salary increments, promotions, and off-cycle corrections. - Administer the variable pay (incentive/bonus) program from design to payout execution, ensuring alignment with performance frameworks. - Conduct job evaluations and manage internal pay bands and structures. 3. Market Benchmarking - Lead the market benchmarking process through compensation surveys and external data sources. - Analyze industry trends to ensure competitive positioning and make recommendations on pay mix, benefits, and total rewards strategy. 4. Rewards Analytics & Governance - Generate actionable insights from compensation data, performance ratings, and external benchmarks. - Track and analyze compensation costs (e.g., CTC to revenue, cost per hire). - Support pay equity reviews, gender parity analysis, and compliance with local labor laws and internal guidelines. 5. Policy & Program Design - Develop and periodically review compensation, incentive, and performance policies. - Handle exceptions and special cases related to compensation, ensuring alignment with company philosophy and governance norms. 6. Performance Management System (PMS) - Design and manage the end-to-end Performance Management process, including goal setting and annual appraisals. - Partner with HRBPs and business leaders to ensure timely and effective implementation of the PMS cycle. - Support calibration discussions, normalize ratings, and drive a performance culture. - Provide analytics and insights on performance ratings, distribution, and alignment to rewards decisions. Qualifications & Experience: - MBA / PGDM in HR or equivalent - 1-2 years of experience in Compensation & Benefits / HR CoE roles - Strong understanding of rewards frameworks, compensation modelling, and budgeting - Proficient in MS Excel and understanding of HR systems and ability to handle large data sets - Familiarity with HR tools and PowerBI is an advantage Skills & Competencies: - Strategic thinking with a strong understanding of HR and business alignment - Excellent analytical and data interpretation skills - Strong interpersonal and communication skills to influence stakeholders - Bias for structure, clarity, and process orientation Please apply on [Confidential Information]

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