PHI - Lead- Total Rewards & Performance

Prudential Health India; Mumbai; On-site; INR 1,000,000 - 1,500,000; Full time

Job summary

Prudential Health India is seeking a dedicated Rewards specialist based in Mumbai to implement and manage compensation strategies aligned with organizational goals. Your expertise will be vital in designing comprehensive reward programs and ensuring compliance with local labor laws.

You will need a Master's degree in human resources and a strong background in corporate rewards. This role encourages a commitment to diversity and aims to build a high-performance culture.

Qualifications

• Minimum of 5 years of overall HR experience.
• At least 3 years in corporate rewards or reward consulting role.
• Strong knowledge of regulatory requirements and best practices.

Responsibilities

• Implement and manage Prudential Group Reward practices in India.
• Conduct compensation benchmarking against competition.
• Ensure compliance with local labour laws and regulations.

Skills

Compensation principles

Analytical skills

Communication skills

Problem-solving attitude

Education

Master’s degree in human resources

Job description

Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion is assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

Prudential (UK) in partnership with the HCL group plans to set-up a standalone Indian health insurance company to address the growing healthcare needs of the Indian consumer. This joint venture will combine Prudential's global expertise in insurance and financial services with HCL Group’s experience in technology and healthcare solutions.

Prudential Health India is a Zero to One team undertaking a no‑legacy, greenfield health insurance deployment in India, building journeys that truly empathise with the customer and offer a differentiated experience.

Lead - Total Rewards & Performance – India SAHI

As a Rewards specialist, you will be responsible for implementing and managing Prudential Group Reward practices in context to India’s talent.

• Performance Management:
  • Implementing “PruPerform” in India SAHI to ensure organisation goals are aligned to individual goals, including process governance, strategic goal setting, quality performance conversations, target assessor group and 360‑degree feedback.
  • Train and support managers to effectively manage and evaluate performance and foster a high‑performance culture in the organisation.
• Compensation & Benefits Management:
  • Conduct regular compensation & benefits benchmarking with the competition to ensure a competitive advantage.
  • Oversee employee benefits programmes such as insurance offerings, policies and wellness initiatives to align with Prudential Global standards and India market standards and regularly review and update them.
  • Design and support the administration of an executive compensation framework in line with regulations from IRDA.
  • Support with compensation proposals for all new hires, ensuring internal & external parity, and work closely with Talent Acquisition to drive a win‑win proposition for candidates and the organisation.
  • Be the custodian of Group Reward Principles and guidelines for India SAHI.
• Governance & Budget oversight:
  • Ensure all compensation and benefits programmes comply with local Labour laws and regulations and stay updated on any legislative changes.
  • Manage the Rewards budget, ensuring cost‑effective allocation of resources, provide regular financial analysis and reporting to support strategic decision‑making, and be the custodian of people cost workforce planning and annual remuneration review process.
  • Conduct benefit analysis to ensure ROI and optimisation of employee offerings.
  • Design HR policy & process framework for the organisation, considering local compliance, best market practices & Group guidelines.
  • In collaboration with group ER, ensure all employment letters & formats comply with legal framework and reward guidelines.
• Job Analysis & Evaluation:
  • Conduct job evaluation exercises to determine the relative & fair value of different roles.
  • Work closely with business leaders to conduct regular job analysis and design to ensure that roles are well aligned to organisational goals and become a critical input to org design initiatives, supporting group transformation.
  • In collaboration with Group Rewards, establish an effective & competitive job architecture to support future scaling of the organisation across various functions.
• Collaboration & Communication:
  • Align with leaders to effectively communicate and implement compensation policies & practices as per market standards & group guidelines.
  • Communicate group announcements, conduct trainings and employee debriefings to ensure group policies & guidelines are effectively implemented in the business unit.
  • Leverage internal stakeholders & external vendors to implement effective reward programmes.

Qualifications

• Master’s degree in human resources and/or a professional certification related to the field.
• Minimum of 5 years of overall HR experience, at least 3 years in corporate rewards or reward consulting role.
• Strong knowledge of compensation principles, market trends, regulatory requirements, and best practices.
• Experience in BFSI or Insurance domain to design and drive initiatives for retail or frontline sales is a plus.
• Proven experience designing and implementing comprehensive compensation and rewards programmes, including salary structures, incentive plans, and long‑term incentives.
• Excellent analytical skills with the ability to interpret complex data, conduct market research and provide data‑driven recommendations.
• Ability to look at tasks as a problem and use case that can be solved with Gen AI.

What we look for

• Thrives in environments that celebrate co‑creation and collaboration.
• Passionate about building a high‑performance culture through competitive rewards practice.
• Adaptable and able to work in a fast‑paced dynamic environment.
• Able to seek help when stuck and encourage others when there are setbacks.
• Always open to embracing change and able to manage it.

Location

Mumbai. May be required to travel to other locations in and outside India if needed.

Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation, irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part‑time / fixed‑term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third‑party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.