Assistant Manager - Total Rewards
Pune, IN Gurgaon, IN Bengaluru, IN
About SKF
SKF started its operations in India in 1923. Today, SKF provides industry leading automotive and industrial engineered solutions through its five technology-centric platforms: bearings and units, seals, mechatronics, lubrication solutions and services. Over the years the company has evolved from being a pioneer ball bearing manufacturing company to a knowledge-driven engineering company helping customers achieve sustainable and competitive business excellence.
SKF's solutions provide sustainable ways for companies across the automotive and industrial sectors to achieve breakthroughs in friction reduction, energy efficiency, and equipment longevity and reliability. With a strong commitment to research-based innovation, SKF India offers customized value-added solutions that integrate all its five technology platforms.
To know more, please visit: www.skf.com/in
SKF India has been recognized as a "Top Employer 2024" by the Top Employers Institute, acknowledging excellence in People Practices.
To know more, Please visit: https://www.skf.com/in/news-and-events/news/2024/2024-01-18-skf-india-recognized-as-top-employer-2024-by-top-employers-institute
SKF Purpose Statement
Together, we re-imagine rotation for a better tomorrow.
By creating intelligent and clean solutions for people and the planet
JOB DESCRIPTION
Job Title: Assistant Manager - People Experience Expert
Reports To: Deputy Manager- People Experience Expert
Role Type: IC
Location: Gurgaon/Pune/Bangalore
KEY PURPOSE OF THE JOB:
- Ensures cost efficient and market-driven compensation procedures and standards for all SKF companies in India.
- Ensures that the Compensation practices remain in line with the market and the global SKF compensation practices.
- Provide analytical support and consultancy to the HRBPs.
- Supports preparation and execution of annual compensation processes.
KEY DUTIES & RESPONSIBILITIES:
- Compensation Expertise:
- Provides support based on solid knowledge of compensation-related topics and provides support in preparation and execution of annual compensation processes.
- Under supervision, analyzes and monitors market trends to ensure compensation programs are competitive.
- Manages the company participation in benchmarking salary surveys and maintains results files as support for compensation analysis requests.
- Develop or enhance the compensation programs such as Sales incentive, phantom stock programs etc.
- Good knowledge of statutory laws related to the compensation programs.
- Compensation Analytics:
- Provides in-depth analytical services on topics such as, internal, and external equity cost of labor, pay trends, recommendations on salary packages, salary increase guidelines, etc.
- Conducts job evaluation and grading activities, responding to the evolution of the business and the organization changes, and review benchmark positions accordingly.
- Compensation Consultancy:
- Consults with human resources business partners and managers on compensation actions to ensure alignment with policy and business objectives.
- Develop and deploy educational/training programs and materials to equip HR partners with fundamental of total rewards to enhance their effectiveness in consulting with managers and supporting key initiatives.
- Benefit Administration:
- Design a competitive benefit strategy and execute the annual group insurance policies.
- Introduce innovative and competitive benefits to attract and retain talent.
Metrics
- Timely execution of the Total rewards program
- Increased ROI
- Higher employee satisfaction
- Alignment of market and employment laws
Competencies:
- Stakeholder management by acting as credible activist.
- Culture and change champion.
- Total Rewards steward & HR compliance champion
- Analytical Skills & Attention to Detail
- Business Acumen
Candidate Profile:
- Ideal candidate is 4-8 years of experience.
- Passed MBA HR from a reputed college preferable from Tier 1 or II
- Should have Strong analytical and advanced Excel skills.
- Ability to develop recommendations, influence decisions and communicate the story with insights and trends of compensation data.
- Strong experience managing stakeholder relationships and other partnerships within a global setting.
- Well versed in India Employment related legislations
- Excellent written and verbal communication and influencing skills with strong presentation skills.