Compensation Benefits Manager
Kotak Mahindra BankMumbai, Maharashtra, India17 days ago
Job descriptionActively work on annual compensation budgeting, simulations & planning for execution Work with Business team for finalizing the compensation, rating normalization process and building the proposals as per the plan Interact with leadership team for comp review process Actively involved in the roll out and conclusion of the process Handle off cycle comp reviews Proactively review compensation of employees in the respective business segments based to internal comp, market comp and retention challenges Actively work on incentive scheme formation keeping in mind the role deliverables, productivity benchmarks and balance of Fixed to Variable ratio of the compensation. Work on incentive calculations, analysis and approval process. Monitoring of payout of Incentives. Work on the annual bonus plan budgeting, simulation and total variable pay impact linkages to business performance. Work with Business Team for finalizing the annual bonus plan. Interact with leadership team for comp review process. Handle Job Evaluation for respective segment and work with the Job evaluation committee from time to time. Defining comp bands for the fast moving roles for hiring. Review and control the hiring ranges in line with agreed comp ranges. Work on various central projects cutting across the organization from HR process or product point of view. Comp Analytics pre, during and post compensation review cycle. Comp analysis basis internal, market benchmark data, hiring data and other market insights. Industry trends / Market insights on compensation for the area of business. Variable pay linkage analysis with business output, productivity and earning analysis. Propose interventions based on comp analysis for retention, proactive corrections & productivity improvement. MBA with specialization in HR or Masters in Statistics. Excellent data handling capability with hands-on experience in working on excel complex formulas. Knowledge of working on Macros and Power BI will be added advantage Excellent stakeholder management skills. Prior experience of 4 -5 years in HR with 1-2 years in compensation role.
Compensation Benchmarking
- Actively work on compensation benchmarking study for various sponsored and forum based surveys
- Work closely with Business HR Team for evaluating compensation needs for business verticals
- Analysis basis comp survey outcome, internal parity and input for decision on compensation
Compensation Review Process :
Variable Pay :
Job Band and Pay Bands & Projects :
Compensation Analytics :
Skills :
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Manager • Mumbai, Maharashtra, India
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