Job Description

TM Rewards & Benefits role

Job Purpose :

- The position holder shall be largely responsible for supporting the Lead Rewards working with the Total Rewards team in driving and implementing Rewards as well Benefits .

- This role will involve closely being involved with working with Business and Unit HR teams in efficient operations of the Rewards & Benefits process and guiding and supporting units as and when required.

- The role holder will be involved in tracking and monitoring operations and identify any existing areas of potential improvements by creating options in line.

Principal Accountabilities :

- Accountability

- Supporting Actions

- Compensation Benchmarking and HR Analytics

- Analysis of data and market trends and participation in various Compensation Benchmarking Surveys with external vendors under guidance from BCOE Total Rewards.

- Understanding and gathering business or vertical specific competitor trends relating on regular basis. Commissioning Business or vertical based studies when required for a specific segment.

- Preparing recommendations for market correction during Annual Compensation Review by providing compensation benchmark analysis.

Short Term Incentive Plan :

- Working with the Lead Rewards on the design of Annual Incentive plan with the team and design, communication and administration of company's short term incentive programs basis the Business verticals

Annual Compensation Review :

- Supporting the ACR exercise in the company covering preparation of increment budgets, salary increments, roll out of increment letters, under guidance from Lead Rewards.

- Working with the larger team on identifying gaps in ongoing compensation deviations on a monthly basis

- Working with Rewards SPOCs and unit HR Heads to equip Unit level handling of employee grievances related to compensation.

- Manpower Planning and Personnel Cost

Budgeting :

- Working with various manufacturing units and corporate office to prepare company wise manpower plan and personnel cost budget on a quarterly basis

- Working closely with Financial Planning and Analysis team to keep a Monthly check on variance versus the Plan.

Long Term Incentive Plan :

- Implementation of the design, communication, and administration of LTIP.

- Managing the online system and rolling out LTIP offers to new joinees as per eligibility

- Handling any grievances with related to LTIP.

New Joinee and internal transfer :

- Compensation offers

- Review and recommend for approval all the variations from norms for JB 8 & Below offers made at the units.

- Preparing and Issuing all offers in JB 7 & above under guidance from BCOE-R&B.

HR Policies :

- Reviewing and recommending changes in the existing HR policies and basis cost consciousness and impact understanding what policies need to be reviewed

- Launching the Group policies for the business by suitably Updating as per business needs

- Policies to be reviewed on an ongoing basis the same to be updated on Intranet