Chief Manager- Total Rewards

Our client is an Indian life insurance company and the largest non-bank private-sector life insurer in India.

Job Summary:
Responsible for design & implementation of total rewards philosophy in line with organizational strategy.Support the function in specific areas including compensation benchmarking, policies and benefits review, employee recognition initiatives, design rewards and recognition programs, 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.
• Leads the compensation benchmarking exercise for the enterprise
• Undertaking job evaluations to ensure that the differences in pay between those doing different jobs within the organisation are fair.
• Appreciate the influence of technology & current trend in Comp & Benefits.
• Leads 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 organisation culture and the values. Designs and effectively communicate the set of 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.

• Execution of various processes like 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 and long terms incentive programs for different audiences – design to delivery.

 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 evangelise Total Compensation philosophy, strongly linked to pay for performance and support it by effective communication to drive the change.

Worked on Esops/ RSUs/Phantom stocks.
designing C&B at Pan India level.
Experience in Executive compensation is a must.
Experience in Policy making and benchmarking, job level assessments.

Experience- 2 years - 7 years
Location - Gurgaon