A summary of my exposure to Compensation & Benefits/Total Rewards is as outlined below
Compensation Philosophy/Practice - In most of the organisations that I have worked so far I have been successful in establishing a fair, equitable and competitive compensation and benefits philosophy/practice that fits and is aligned with the Company's strategy, work culture and organisational goals.
Job Analysis, Documentation and Evaluation - In the last three assignments I have successfully worked on defining / re-defining Job Families, Sub-families, Job roles and responsibilities and mapping the same with the competitive market research and salary benchmarking to establish pay practices and pay bands that helped to recruit and retain the best talent in the industry.I have been certified by Mercer for their International Position Evaluation process which is a standard point ranking method for determining the size and scope of the unique positions across various functions and job levels in the organisation. I have also worked with the Korn Ferry group on establishing the job levels, job roles / description and corresponding salary ranges / bands based on the Hay Grading job evaluation methodology in the organisations.
Market Pricing and Salary Surveys - In most of the organisations I have worked so far, I have initiated regular benchmarking of positions and its corresponding salary ranges and have also participated in market related pay research when necessary, to enable the Organisation to remain competitive and an Employer of choice. Have also established mechanisms to maintain and check internal parity as a part of the hiring practice and throughout the employee life cycle across various job roles / departments / businesses in the organisation.
Salary Budget Planning, Merit Increase and Promotion cycles - Extensive experience in establishing annual salary budget planning and forecasting exercises. Worked out merit increases / salary revisions guidelines and promotion cycles in most of the organisations and have administered these both on an annual basis and on a half yearly basis depending on the Organisation's Performance Management process and Compensation disbursement philosophy.
Salary Structures - Successfully initiated salary restructuring exercises in some of the organisations to align the salary components with the market trends and also introduced concepts like flexible pay packages which empowers the employees to plan their salary taxation accordingly keeping the adherence to all tax rules intact.
Variable Pay, Incentive and Bonuses - Have developed and deployed bonuses, variable pay structures and incentive schemes (both short-term and long-term) for Manufacturing, Sales and Project/Services based functions linked to Company / Division / Department / Individual performances and target accomplishments.
Compliance - Established SOP's and procedures to ensure that reward and benefits strategies (both tangible and intangible), policies and reporting comply with the Country's / States law and regulations and adhere to the Company's governance policies/procedures.
HRSS and Payroll - I have hands-on experience in establishing the Human Resources Shared Services function and Payroll process, Salary Taxation, Social securities (PF, ESIC, Gratuity, NPS and Superannuation) and compliance related to these processes. Oversaw monthly processing of payroll and its reconciliation with the accounting, leave and time management systems.
Benefits (Perquisites, Health / Welfare and Global mobility) - On the benefits part I have led all benefit plans related to group medical / hospitalization policy, term life insurances, accident and disability insurances, company car policy, short-term and long-term incentives, restricted stock units, education assistance policies, internal job posting policies, maternity & paternity benefit policies, flexible working arrangements, employee relocation policies, international assignments and global mobility programs, domestic assignment benefit policies, club and recreation membership to name a few.
Exposure to working with vendors and agencies -
Job Evaluation and Position Classification: Mercer and Korn Ferry (Hay Group)
Market pricing and Salary surveys: Mercer, Korn Ferry, Zinnov, Aon Hewitt, Tower Watson, Kellys, IMA and Michael Page.
Health / Welfare Benefits: Marsh, Mercer, Aon Global and JLT / Vantage, Sodexo and HDFC.
Social Securities: Company administered social security funds, LIC P&GS and HDFC Pension Management.
Payroll Partners: ADP, PaySquare and Ascent.
Global Mobility and Taxation Partners: EY, KPMG, Mercer, IKAN, Crown and Santa Fe
HCM Tools: SAP, SAP SF and Workday
Designation : | Deputy General Manager |
Highest Education : | Post Graduate Degree |
Open For Job : | Open for Job Change |
Job Skill : | Compensation and Benefits, HR Policies |
Work Experience : | 11 - 15 years |
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