Shikha Rani
Trivandrum
Summary
Professional compensation expert with extensive knowledge in compensation strategy, benefits analysis, and salary benchmarking. Proven ability to collaborate with cross-functional teams, adapting to changing needs to achieve optimal results. Adept at conducting market research, data analysis, and developing compensation structures that align with organizational goals. Recognized for reliability, strong analytical skills, and commitment to fostering inclusive and productive work environment.
Overview
9
9
years of professional experience
1
1
Certification
Work History
Head (Compensation & Benefits)
MFL
12.2024 - Current
- Identify specific job roles for benchmarking with market data from sources
- Analyze salary data to establish percentile benchmarks (e.g., 25th, 50th, 75th percentiles) for various roles based on industry standards
- Clearly define criteria for merit increases to maintain fairness and motivate performance
- Design ESOP's Scheme, Tranche II
- Understanding existing incentive calculation methodologies and identify opportunities for streamlining and automating calculations based on performance metrics
- Performance Prediction Models: Utilizing past performance data to predict future employee performance, identifying those who may need additional support or recognition.
- Implementation of LTIP and STIP.
- Identify Outliers & Develop Remediation Plans
- Establish salary ranges or bands for different job levels (entry-level, mid-level, senior-level) based on market analysis and internal pay grades.
- Prepared and updated job description records for all employees across company.
- Optimized compensation structures by conducting comprehensive market analyses and benchmarking studies.
- Analyzed and evaluated existing compensation and benefits programs and recommended improvements.
- Help create and optimize salary structures and bonus programs.
HR Specialist (Compensation & Benefits)
Bajaj Finance Limited
01.2023 - 08.2023
- Reduced expenses by analyzing compensation policies and implementing competitive programs while ensuring adherence to legal requirements.
- Conducted annual salary reviews to maintain competitiveness in the market and retain top performers within the organization.
- Developed custom reports and dashboards to provide management with up-to-date information on key compensation metrics.
- Managed various compensation projects such as salary structure development, incentive plan design, and executive compensation analysis.
- Enhanced company''s ability to attract top talent by conducting thorough market research on industry compensation trends.
- Ensured compliance with federal and state wage laws by regularly reviewing and updating compensation policies.
- Evaluated job positions within the organization to ensure consistent and equitable pay structures across all departments.
- Developed and maintained comprehensive job evaluation system for equitable compensation.
- Created detailed job description library for organization and maintained relevance with regular updates..
- Guided managers and supervisors on methods for conducting accurate job evaluations.
- Conducted wage and salary surveys to build competitive compensation plans.
Corporate HR
Thyssenkrupp Industries Private Limited
06.2022 - 01.2023
- Supported the annual compensation review planning process, pay equity implementation and compliance
- Stayed abreast of existing and proposed statutory and legal requirements, and worked on appropriate course of action as needed
- Validated final payroll inputs relevant to compensation team data consistency check, corrections and conducted regular audits
- Supported special projects with regards to compensation framework and guidelines
- Benchmarking compensation and incentive programs with our peer group and companies adopting best practices in this space
- Administered employee health and wellbeing benefit programs, including employee communications
- Implemented the 9 box grid
- Pay for performance & potential
- Rolled out Promotion guidelines, salary correction across both the plants
- Analysis of CPH
- Collaborated with Mercer for job evaluation for all the top leadership
- Collaborated with cross-functional teams to achieve project goals on time and within budget
- Increased program visibility by developing a thoughtful engagement calendar and touch points with employees to reinforce benefit offerings
- Worked with internal teams like Talent and Employee Communications to design, ideate and execute the benefits and wellbeing related employee engagement plan
- Streamlined HR processes for increased efficiency and reduced administrative workload
Corporate HR
Tata Steel Long Products
02.2022 - 05.2022
- Introduced new compensation programs resulting in improved employee satisfaction
- Analyzed market data to ensure competitive and attractive compensation packages
- Developed and conducted training programs for HR teams on new compensation strategies
- Implemented a streamlined compensation review process, reducing processing time by 20%
- Built and drove the strategic design and execution of the company's compensation, and benefits programs
- Analyzed employee, market, and financial data to summarize findings, draw insights, and support recommendations on compensation programs and initiatives
- Facilitated the company's performance management cycle for 2500+ employees
HR Specialist
Tata Consultancy Services
06.2016 - 11.2021
- Led the implementation of a new compensation structure resulting in improved cost control
- Developed and implemented an employee communication strategy for compensation changes, resulting in increased employee understanding and satisfaction
- Analyzed and optimized executive compensation packages to attract and retain top talent
- Developed and conducted training sessions for managers on compensation best practices and compliance
- Collaborated with HR business partners to assess job descriptions and ensure accurate benchmarking of roles within the organization.
- Assessed and evaluated jobs to determine appropriate salary ranges.
- Created rewards and recognition programs for acknowledging employees' achievements.
- Managed salary surveys, providing valuable data for informed decision-making regarding compensation adjustments.
- Identified areas needing improvement within the overall rewards program through regular analysis of employee feedback surveys.
- Supported mergers and acquisitions by evaluating target companies'' compensation structures and providing recommendations for integration efforts.
- Guided managers and supervisors on methods for conducting accurate job evaluations.
Education
MBA -
ICFAI Business School
Hyderabad, Telangana05.2016
BBA -
Birla school of Technology
Ranchi, Jharkhand05.2013
Skills
- Communication Skills
- Compensation Expertise
- Strategic Thinking
- Benefits Administration
- Performance Management
- SAP SuccessFactors
- Root Cause Analysis
- Workday
- People Strong
- Oracle HR systems
Certification
- Certified Compensation Professional (CCP)
- Kon Ferry Certified for JE Scoring.
Accomplishments
- Recognition by MD& CEO for conceptualization and implementation of 9 box matrix for performance and potential evaluation.
- Recognition by Head HR for implementation of FitforLyf wellness program for 2500+ employees across pan India.
- Recognition for successful implementation of Oton at Tata Group.
- Recognition for collaborating with Mercer and leading the salary correction for both the plants.
- Awarded with Heroes, Kudos and Super Heroes at Bajaj Finance Limited for successfully carrying out the pay review.
Languages
Hindi
English
Bengali
Marathi
Personal Information
- Date of Birth: 03/12/91
- Gender: Female
- Marital Status: Married
Timeline
Head (Compensation & Benefits)
MFL
12.2024 - Current
HR Specialist (Compensation & Benefits)
Bajaj Finance Limited
01.2023 - 08.2023
Corporate HR
Thyssenkrupp Industries Private Limited
06.2022 - 01.2023
Corporate HR
Tata Steel Long Products
02.2022 - 05.2022
HR Specialist
Tata Consultancy Services
06.2016 - 11.2021
BBA -
Birla school of Technology
MBA -
ICFAI Business School
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