Max Life Insurance Company Limited | Senior Manager
2 weeks ago
Responsible for design & implementation of total rewards philosophy in line with organizational strategy. Support the function in specific areas including salary design and benchmarking, performance management, policies and benefits review, employee recognition initiatives, rewards and recognition, and extend support to functional projects across the portfolio
Key Responsibilities/ Key Deliverables:
External Competitiveness:
Researching and analyzing compensation and benefits offered by other employers in the same sector or in the target sector
Undertaking job evaluations to ensure that the differences in pay between those doing different jobs within the organization are fair
Appreciate the influence of technology & current trend in Comp & Benefits
Lead different HR Projects (beyond Total Rewards)
Lead audit requirements across various audits taking place internally and externally
Salary & Benefits Administration:
Evaluate the basic compensation structures in the organization (grading system, job evaluation system, job description policy, promotion policy etc.) aligned with the organization culture and the values. Designs and communicates different compensation and benefits policies. Monitors the organization’s salary structure and benefits provision to ensure a balance between control of costs and attracting and retaining staff.
Leads and coordinates compensation processes like the annual salary planning, bonus planning and incentive schemes development.
Streamline and manage the monthly promotion process, related payroll inputs, recognition awards.
Responsible for projects related to sales incentives programs for different audiences – design to delivery.
Performance Management & Analytics:
Drive Performance Management Process for the organization: Analysis of PMS data in line with company philosophy, resolution of employee queries from all businesses and spear-heading change / key recommendations with the business HR team.
Reviewing promotion and pay for efficient employee engagement by performance management in collaboration with business
Finalize goal sheet templates for all positions to ensure alignment with the business. Driving calibration of ratings during cycles and ensuring feedback process is driven and communicated across the organization
Liaison with digital team and HR shared services team to ensure smooth functioning of systems
Policy and Benefits design:
Developing/ refreshing and implementing policy and benefit programs, ensuring that these are current and competitive and in line with legal requirements. Making recommendations on changes to benefits programs and insurance schemes.
Researching and analyzing policies and benefits offered by other employers in the same sector or in the target sector
Supporting policy communication programs/ HRBP queries and other exception requirements from time to time.
Business Partnering:
Work closely with HR business heads, HR business partners, business heads to identify and address compensation issues, and evangelize Total Compensation philosophy, strongly linked to pay for performance and support it by effective communication to drive the change
Job Specifications:
Management graduate with 3 to 6 years of relevant experience in Total Rewards function
Good understanding of the principles and practices of total rewards systems
Strong analytical, problem-solving skills and quantitative skills
Highly detail driven with emphasis on accuracy, coupled with the ability to see the broader/big picture.
Knowledge of Hay Job Evaluation framework
Strong project management skills and ability to manage multiple projects and priorities at once
Ability to create tools and models to interpret and analyze data
Comfortable working in a highly matrixed environment.
Should be able to understand the nuances of diverse businesses units and able to develop solutions
Significant interaction with senior level members in the Talent team and business leaders
Strong Presentation and communication skills
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gurgaon, India Max Life Insurance Company Limited Full timeMax Life InsuranceEstablished in year 2000, Max Life Insurance is currently 4th largest private life insurer and the largest non-bank life insurer in India. It is subsidiary of the publicly listed Max Financial Services Limited and joint venture between Max India Ltd and Axis Bank. The Company has more than 40 Lakh customers, with gross written premium of...
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gurgaon, India Max Life Insurance Company Limited Full timeMax Life InsuranceEstablished in year 2000, Max Life Insurance is currently 4th largest private life insurer and the largest non-bank life insurer in India. It is subsidiary of the publicly listed Max Financial Services Limited and joint venture between Max India Ltd and Axis Bank. The Company has more than 40 Lakh customers, with gross written premium of...
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