HR - compensation & benefits - Chola MS general insurance

Murugappa Group

5 - 10 years

0 Lacs

chennai

Posted:2 weeks ago| Platform:

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Skills Required

compensation and benefits management compensation benchmarking total rewards

Work Mode

Work from Office

Job Type

Full Time

Job Description

Compensation:

Design Compensation policies and Structure and Pay ranges for the different roles.
Conduct pay equity and internal parity analysis
Monitor and Review offers extended to candidates, identify deviations from approved communication norms and share the dashboard on regular intervals.
Monitor and Control HR Budget.

Salary Benchmarking:

Defining the scope of benchmarks and finalise roles and levels for submission
Collect internal data and map internal jobs to benchmarking agency jobs
Co-ordinate survey submission and clarify queries from consultants and validate mappings
Review market report and extracts from consultants and compare Internal pay vs Market percentiles and highlight critical gaps.

Incentive Management:

Work with HRBP and sales team to design incentives
Standardise scheme templates and maintain version controls of schemes
Track incentives actuals vs budgets and provide dashboards on incentive payouts to business heads.

Benefit Administration:

Design and manage benefits portfolio (Medical Insurance, Term Life, personal accident, LTA, NPS)
Drive Benefits communication, policy updates and educating employees to improve adoption and support helpdesk for C & B Queries
Run Vendor RFPs and renewals with Insurers / TPAs / Brokers, negotiate SLAs, premiums and service guarantees.
Liaise with Insurance Brokers, TPAs and vendors for enrollments, claims and issue resolution.
Track benefit utilisation and prepare monthly dashboards
Maintain policy governance framework to ensure clarity, fairness and consistency across the organisation
Ensure policies are updated in HRMS platform on time.

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