Compensation Benchmarking
- Participate in compensation benchmarking studies through sponsored and forum-based surveys.
- Partner with Business HR teams to assess compensation needs across business verticals.
- Analyse market data, internal parity, and benchmarking outcomes to support compensation decisions.
- Support annual compensation budgeting, simulations, and planning activities.
- Collaborate with business teams on compensation proposals, rating normalization, and review processes.
- Engage with leadership teams during compensation review discussions.
- Drive seamless execution and closure of annual compensation cycles.
- Manage off-cycle compensation reviews and retention-related compensation interventions.
- Conduct proactive compensation reviews based on internal equity, market positioning, and retention considerations.
- Y-O-Y Process Improvement to ensure the PRAISE Process is seamless.
- Agile action on Ground level feedback on process points of improvement.
- Partaking accountabilities on change in Compensation Philosophy / design
- Managing the Tech Platform for PRAISE
- Monitor incentive schemes for Business Units in purview and also earnings vis a vis Business Objective achievement.
- Work on incentive calculations, analysis and approval process. Payouts being accountability of Payroll Team – Pre-decide Roles covered and ensure seamless adherence of Incentives only for those roles.
- Monitoring of payout of Incentives
- Support annual bonus planning, budgeting, simulations, and performance-linked variable pay programs.
- Partner with business leaders to finalize annual bonus plans and related compensation proposals.
- Manage job evaluation activities for designated business segments and coordinate with Job Evaluation Committees.
- Define and maintain compensation bands for critical hiring roles.
- Monitor and govern hiring compensation ranges in alignment with approved frameworks.
- Participate in organization-wide HR transformation, compensation, and policy projects.
- Deliver compensation analytics before, during, and after compensation review cycles.
- Analyze internal compensation, market benchmarks, hiring trends, and workforce insights.
- Monitor industry compensation trends relevant to business segments.
- Evaluate linkages between variable pay, business outcomes, productivity, and earnings.
- Recommend interventions for retention, compensation corrections, and productivity enhancement.
Compensation Review Process
Variable Pay
Job Band and Pay Bands & Projects
Compensation Analytics:
Job description provided by Kotak Mahindra Bank.
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