HR - compensation & benefits - Chola MS general insurance
3 days ago
Job Description :
Compensation:
- Design Compensation policies and Structure and Pay ranges for the different roles.
- Conduct pay equity and internal parity analysis
- Monitor and Review offers extended to candidates, identify deviations from approved communication norms and share the dashboard on regular intervals.
- Monitor and Control HR Budget.
Salary Benchmarking:
- Defining the scope of benchmarks and finalise roles and levels for submission
- Collect internal data and map internal jobs to benchmarking agency jobs
- Co-ordinate survey submission and clarify queries from consultants and validate mappings
- Review market report and extracts from consultants and compare Internal pay vs Market percentiles and highlight critical gaps.
Incentive Management:
- Work with HRBP and sales team to design incentives
- Standardise scheme templates and maintain version controls of schemes
- Track incentives actuals vs budgets and provide dashboards on incentive payouts to business heads.
Benefit Administration:
- Design and manage benefits portfolio (Medical Insurance, Term Life, personal accident, LTA, NPS)
- Drive Benefits communication, policy updates and educating employees to improve adoption and support helpdesk for C & B Queries
- Run Vendor RFPs and renewals with Insurers / TPAs / Brokers, negotiate SLAs, premiums and service guarantees.
- Liaise with Insurance Brokers, TPAs and vendors for enrollments, claims and issue resolution.
- Track benefit utilisation and prepare monthly dashboards
- Maintain policy governance framework to ensure clarity, fairness and consistency across the organisation
- Ensure policies are updated in HRMS platform on time.
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