IN_Senior Associate_Comp & Ben_Rewards_IFS_Gurugram

Responsibilities: o Compensation Benchmarking and Analysis · Work on compensation benchmarking exercise for assigned LoS/SBU - participation in compensation surveys including recommendations on comparator baskets, understanding job families and descriptions, and data validation with the business. · Conduct job matching exercises with survey partners. · Participate in Campus surveys to review stipend/CTC offered for campus hiring, understand campus recruitment trends from Campus team. · Gap Analysis: Collation and analysis of multiple sources of benchmarks and data to derive insights on compensation trends and gaps basis external benchmarks, recruitment data, internal employee data and existing pay ranges. · Conduct review of pay ranges across SBUs, based on survey results and gap analysis, internal and external equity analysis. Design new ranges as required by the business. Partner with business teams for finalizing pay ranges basis affordability inputs. o Annual Compensation Review · Create first level simulations and models on increments and variable pay including promotions. Partner with BUHC and LoS/BU Leaders to refine LoS wise compensation models, principles, and grids. · Conduct Pay Equity Analysis · Work with LoS BUHC for budget approval for Bonus and Increments. Work on Presentation CPO/COO on final increment and VPay grids · Partner with HC Operations and BUHC teams for final TR Checks for governance and compliance, Letter Release; and Increment and Variable Pay payout (for staff) Mandatory skill sets: · Policy Management – Working on SOPs/Policies/Guidelines that come under the domain of Total Rewards · Data Repository – maintain up to date compensation and benefits data repository. · Work on Internal Audit requirements as needed Preferred skill sets: · Participate in Vendor Evaluation for compensation and benefits. · Acting as a CoE for key stakeholders like Performance Management team leaders, BU HCs and other COEs for addressing Compensation and Benefits concerns/queries · Insight generation and eye for detail · Cultural sensitivity and the ability to build effective relationship with stakeholders across different groups – HC, Business, Vendors and External Firms Years of experience required: 4+ years Education qualification: UG/PG