Job Description
Job Purpose :
The Role would be responsible for managing the Total Rewards Agenda for assigned business vertical of the Bank
1. Salary Offer Fitments: Responsible for salary offers and fitments for respective businesses; Stakeholder Engagement: To coach key stakeholders on Reward concepts and prudent decision making.
2. Salary Benchmarking: Participate in market compensation and benefit surveys, interpret results and lead engagements with respect to job matching, market mapping and analyzing market positioning of every employee; Discuss with HRBPs and business on market positioning- compa ratio of employees - along with other related parameters.
3. Job Evaluation: Create job sizing framework for respective businesses. Actively organize sessions with the business heads to come to an agreement on job size. Coaching HRBPs, TAs and Business on job sizing.
4. Performance Linked Pay: Responsible for managing Performance Linked Pay plans of the concerned verticals and governance of the same.
5. Key Annual Processes: Anchoring the performance management process from a C&B standpoint; Anchoring the annual salary review (bonus and increment) and promotions across the respective business vertical
6. Market Intelligence: Responsible for gaining market intelligence pertaining to the following:
- Salary Trends among the peer group pertaining to the verticals
- Business structure for the peer group pertaining to the Verticals.
- Compensation practices in competitor organizations
- Analysis of hiring trends in the Verticals space from competitor organizations
The Role would be responsible for managing the Total Rewards Agenda for assigned business vertical of the Bank
1. Salary Offer Fitments: Responsible for salary offers and fitments for respective businesses; Stakeholder Engagement: To coach key stakeholders on Reward concepts and prudent decision making.
2. Salary Benchmarking: Participate in market compensation and benefit surveys, interpret results and lead engagements with respect to job matching, market mapping and analyzing market positioning of every employee; Discuss with HRBPs and business on market positioning- compa ratio of employees - along with other related parameters.
3. Job Evaluation: Create job sizing framework for respective businesses. Actively organize sessions with the business heads to come to an agreement on job size. Coaching HRBPs, TAs and Business on job sizing.
4. Performance Linked Pay: Responsible for managing Performance Linked Pay plans of the concerned verticals and governance of the same.
5. Key Annual Processes: Anchoring the performance management process from a C&B standpoint; Anchoring the annual salary review (bonus and increment) and promotions across the respective business vertical
6. Market Intelligence: Responsible for gaining market intelligence pertaining to the following:
- Salary Trends among the peer group pertaining to the verticals
- Business structure for the peer group pertaining to the Verticals.
- Compensation practices in competitor organizations
- Analysis of hiring trends in the Verticals space from competitor organizations
💡 Quick Summary
Seeking a career-building opportunity? The HDFC Bank|Mumbai position is now open for candidates interested in the Bank Jobs sector. This role in Mumbai offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Bank Jobs is a plus.