Senior Manager

3 months ago

Mumbai, India Upstox Full time

Location:

Mumbai
Job description summary: Develop and implement strategies to attract, motivate, and retain employees through competitive compensation and benefits. Conduct market research to ensure competitive packages, manage salary benchmarking, and oversee the appraisal process. Build an employee rewards strategy and a comprehensive compensation framework, including performance bonuses and incentive schemes. Align compensation with performance outcomes, guide job evaluations, and manage ESOPs. Standardize job families and titles across the organization, and communicate policies clearly to all employees.
Your way to impact: Be self-driven / quick starterHave an ownership mindsetAggressively drive and deliver results
In your day-to-day role you will: Compensation Strategy:Develop and implement compensation strategies that attract, motivate, and retain employees.Collaborate with external vendors to conduct market research and analysis to determine competitive compensation packages. Report compensation and benefits costs and trends.Build a future-focused employee rewards strategy and a compensation philosophy for various roles across the organisation.Create Compensation framework for the organisation including incentives like performance bonus.Manage salary benchmarking, annual pay review processes, and incentive schemes across the organisation.Oversee the employee appraisal process from initiation to completion.Create plug-and-play models that automate values based on changing ratings, including compensation, percentile values, percentage ceilings, and compa ratios.Conduct rating calibrations with managers and apply standard methodologies.Evaluate and recommend new benefit programs/ policy or modifications to existing programs.Communicate compensation and benefits policies to employees and managers.Manage the budget for the compensation program. Serve as a point of contact for employees regarding compensation and benefits-related questions.Train TA team members on making offers based on benchmarking data.
Performance Management:Support the performance management process by aligning compensation strategies with performance outcomes.Provide guidance on job evaluations and salary recommendations.Strategise and prepare analyses on critical talent and develop action plans.Prepare appraisal budgeting and planning documents.Create process guides for performance reviews and conduct training sessions for managers and functional heads to conduct performance evaluations, incorporating company values to KPIs, etc.Review ESOP plan and execute strategies for employees
What do you need to bring? Skills:Strong analytical and problem-solving skills.Excellent communication and interpersonal skills.In-depth knowledge of compensation and benefits laws and regulations.Ability to work independently and manage multiple priorities.Significant experience in compensation and benefits management.Demonstrated experience with compensation and benefits benchmarking and analysis.
Personal Attributes:Attention to detail and high level of accuracy.Strong organisational skills.Ability to maintain confidentiality.Strategic thinking and business acumen.

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