HR - compensation & benefits - Chola MS general insurance

3 days ago


Chennai, Tamil Nadu, India Murugappa Group Full time ₹ 15,00,000 - ₹ 20,00,000 per year

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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