Senior Manager - Compensation & Benefits
Job Summary
Job Description
5 skills required
Job Details
The Upstox Story:
Upstox is one of India's leading Fin-Tech companies with a mission to simplify trading & investing to make it easily accessible to the masses. We aim to enable everyone, from new investors to seasoned traders, to invest across multiple categories with our state-of-the-art trade & investment platform and commission-free pricing. We offer numerous asset categories to invest in, like Stocks, IPOs, Mutual Funds, and more.
By focusing on our customers’ needs and equipping them with personalised yet powerful tools, we witnessed a steep growth of 800% in our customer base from 25 Thousand in 2017 to 2 Lakh in 2019. With 1500% growth in 2020, currently, over 10 million customers trust us with their investment decisions, thus setting us on the course to become an industry-leader in the country.
Our mission is simple - to break down the complexities of investing and make it more effortless, accessible, affordable, and easy for the masses to adopt. This key principle when infused with intuitive design and leading-edge technology will help us empower every Indian to take control of their investments.
RKSV Securities was founded by Ravi Kumar and Shrinivas Viswanath in 2009 and was soon graced by Kavitha Subramanian as the third co-founder in 2016. Backed by Ratan Tata, Upstox had raised $4 million in Series A funding in early 2016 that was led by Kalaari Capital. The Series B funding round scaled multifold and witnessed an investment of $25 million by US-based investment firm - Tiger Global Management in September 2019.
We have a team of highly skilled technology and finance professionals, and are currently looking for highly motivated field experts to be part of our high-energy team.
Here is what you need to know about this role:
Job Title: Senior Manager - Compensation & Benefits (Full-Time)
Location: Mumbai
Job description summary:
Develop and implement strategies to attract, motivate, and retain employees through competitive compensation and benefits. Conduct market research to ensure competitive packages, manage salary benchmarking, and oversee the appraisal process. Build an employee rewards strategy and a comprehensive compensation framework, including performance bonuses and incentive schemes. Align compensation with performance outcomes, guide job evaluations, and manage ESOPs. Standardize job families and titles across the organization, and communicate policies clearly to all employees.
Your way to impact:
Be self-driven / quick starter
Have an ownership mindset
Aggressively drive and deliver results
In your day-to-day role you will:
Compensation Strategy:
Develop and implement compensation strategies that attract, motivate, and retain employees.
Collaborate with external vendors to conduct market research and analysis to determine competitive compensation packages. Report compensation and benefits costs and trends.
Build a future-focused employee rewards strategy and a compensation philosophy for various roles across the organisation.
Create Compensation framework for the organisation including incentives like performance bonus.
Manage salary benchmarking, annual pay review processes, and incentive schemes across the organisation.
Oversee the employee appraisal process from initiation to completion.
Create plug-and-play models that automate values based on changing ratings, including compensation, percentile values, percentage ceilings, and compa ratios.
Conduct rating calibrations with managers and apply standard methodologies.
Evaluate and recommend new benefit programs/ policy or modifications to existing programs.
Communicate compensation and benefits policies to employees and managers.
Manage the budget for the compensation program.
Serve as a point of contact for employees regarding compensation and benefits-related questions.
Train TA team members on making offers based on benchmarking data.
Performance Management:
Support the performance management process by aligning compensation strategies with performance outcomes.
Provide guidance on job evaluations and salary recommendations.
Strategise and prepare analyses on critical talent and develop action plans.
Prepare appraisal budgeting and planning documents.
Create process guides for performance reviews and conduct training sessions for managers and functional heads to conduct performance evaluations, incorporating company values to KPIs, etc.
Review ESOP plan and execute strategies for employees
What do you need to bring?
Skills:
Strong analytical and problem-solving skills.
Excellent communication and interpersonal skills.
In-depth knowledge of compensation and benefits laws and regulations.
Ability to work independently and manage multiple priorities.
Significant experience in compensation and benefits management.
Demonstrated experience with compensation and benefits benchmarking and analysis.
Personal Attributes:
Attention to detail and high level of accuracy.
Strong organisational skills.
Ability to maintain confidentiality.
Strategic thinking and business acumen.
Upstox is an Equal Opportunity Employer; all qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, veteran status, or other characteristics.
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