Formulation of reward recognition and benefits strategies, policies and processes aligned to Micro Finance (MFL) and NBFC business needs and develop and manage related policy and procedures and systems.
Design and develop reward and recognition strategies, policies and processes at SBU level by understanding business requirements, challenges, market positioning and local market/industry practices.
Lead the formulation of reward recognition and benefits strategies aligned to Micro-Finance/ NBFC business needs and develop/ manage related policy, procedures and systems.
Prepare, collates and analyzing market data and competitors pay modelling.
Management of the Reward Team ensuring the delivery of team objectives in delivering timely and 100% error free services.
Resolve policy issues arising from the execution of the Reward Strategy.
Contribute towards the overall development, growth and management of the function in MFL / NBFC by supporting and developing and strengthening Talent Acquisition/ Talent Management Function.
Work in partnership with Group Company HR Team and contribute towards business objectives.
Gain a deep understanding of current and future business drivers and ensure changes arising from the business process rengineering activities are reflected in the Reward structure and strategy.
Ensure fairness and consistency in the operation of reward recognition and benefits strategies and related policy procedures and systems.
Support annual performance review and variable pay processes.
Evaluates and improvise the effectiveness of Reward and Recognition systems, Recruitment Strategies, Training & Development Function and align the same to business requirements.
Develop guidelines for Annual Appraisal/ Increments and Variable Pay (Policy, Process Guidelines, Education, Review, Reporting and Employee Communication) as per budget and recommendation.
Propose various Incentive Program to drive business outcome tailored towards individual business requirements to drive profitability and performance.
Bring alignment in organisation hierarchy structure with parity in Reward, Compensation and Benefits (C&B).
Establishing professional relationships with relevant Institutions and organizations.
Familiar with a variety of the reward and recognition concepts, practices, and procedures.
Lead, direct, guide and mentors the work of reporting hierarchy.
Create awareness of rewards and recognition processes, policies and programs across the organization.
Work closely with IT department to digitize and execute the appropriate technologies to be utilized for rewards and recognition.
Introduce job evaluation to ensure pay as per job value. Create policies, processes to institutionalise the same.