Kotak Life Insurance - Assistant Vice President - Compensation

Assistant Vice President - - Assistant Vice President

Grade : - L6

Office Location : - Goregaon East IT Park

Key Responsibilities :

• Conduct market research and analysis to benchmark compensation packages against industry standards and competitors.
• Participate in salary surveys to gather external market data, identify trends, outliers and recommend area for improvement & adjustments and ensure the organization's compensation practices remain competitive
• Prepare reports and recommendations based on compensation analysis to support decision-making.
• Assist in the development, administration, and communication of compensation programs, including salary increases, bonuses, and incentives.
• Develop and manage the compensation and benefits management budgets. Monitor expenses and optimize resources to achieve departmental goals.
• Assist in the evaluation and classification of jobs within the organization to ensure internal equity.
• Review job descriptions to determine appropriate salary ranges and job classifications.
• Maintain accurate job documentation and salary structures.
• Provide guidance to HR and managers on salary-related matters, including salary offers, promotions, and adjustments.
• Ensure that compensation practices adhere to legal requirements and industry standards. Stay informed about changes in labour laws and relevant regulations related to compensation.
• Maintain accurate and up-to-date compensation data in the Human Resources Information System (HRIS) or compensation database.

Education : - Graduate / Post Graduate

Work experience in years :

Skills / experience required :

(ref : iimjobs.com)