SGM/GM – Compensation, Rewards and Benefits, HR Ops, Mumbai

Job Description:

 Compensation, Rewards and Benefits
Department: Human Resources
Location: Mumbai

Job Description

Compensation and Benefits will oversee the strategic development and implementation of compensation and benefits programs within company. This role requires a seasoned HR professional with extensive experience in compensation analysis, benefits administration, and regulatory compliance. The incumbent will be responsible for ensuring that our compensation and benefits strategies are aligned with organizational objectives and industry standards.

Key Responsibilities:

Roles, Responsibilities | Projects

• Annual Increment Cycle – End to End planning and execution – analyzing rating distributions & proposals, grid designing, budget alignment, board signoff & letter generation. 

• Executive Compensation with LTIP pay-outs

• Job Evaluation and Compensation & Benefits Benchmarking including CEO and CXO positions.

• PMS – Enabling better performance differentiation across organization and ensuring more objectivity in performance discussions/evaluations, ensuring timely closure of quarterly, half yearly and annual reviews.

• Rewards & Recognition - Ensuring the RnR framework is aligned to the company values and desired behaviors, onboarding a new RnR vendor to ensure better employee experience, making key changes in award designs to strengthen the quality of nominations.

• HR Operations– Process owner for employee life cycle process like onboarding, probation, PIP, Exit, medical insurance, BGV, pre-employment health check managing external vendors for respective processes.

• HR Analytics – Dashboards for key HR metrics to monitor health & course correct the process execution.

• Staff Cost- Preparing the annual budget proposal for Staff Cost – including salary cost and ensuring the adherence to budget through monthly MoR reviews with senior management.

• Develop and implement compensation and benefits strategies that attract and retain top talent.
• Conduct regular benchmarking studies to evaluate the competitiveness of our compensation packages.
• Oversee the administration of employee benefits programs, including health insurance, retirement plans, and wellness initiatives.
• Ensure compliance with relevant laws and regulations governing compensation and benefits.
• Analyze data and trends to provide recommendations for adjustments to salary structures and bonus programs.
• Collaborate with senior management to align compensation and benefits programs with organizational goals.
• Manage relationships with external vendors and consultants to optimize benefits offerings and cost- effectiveness.
• Provide guidance and support to HR team members on matters related to compensation and benefits.

Scope of work:

Compensation & Benefits will be responsible for developing and executing strategic initiatives related to compensation and benefits across the organization. This includes overseeing the design, implementation, and administration of all compensation and benefits programs, as well as ensuring compliance with relevant regulations. The role involves collaborating with internal stakeholders and external partners to achieve organizational objectives and enhance employee satisfaction and engagement.  

Skills and Qualities:

• Bachelor degree in Human Resources, Business Administration, or a related field; Master’s degree or relevant professional certification preferred.
• Extensive experience (8+ years) in compensation and benefits management, with a strong understanding of industry best practices.
• Proven leadership and strategic planning skills, with the ability to drive results in a fast-paced environment.
• Excellent analytical and problem-solving abilities, with a keen attention to detail.
• Strong communication and interpersonal skills, with the ability to influence stakeholders at all levels.
• Ability to effectively manage multiple priorities and deadlines.
• In-depth knowledge of regulatory requirements related to compensation and benefits.
• Proficiency in HRIS systems and Microsoft Office Suite.

Perks and Benefits:

• Excellent Career Progression
• Competitive Compensation Package
• Health Insurance
• Energetic and Enthusiastic Work Environment
• Performance Bonus
• Employee Development Plans
• Celebration and Reward