Compensation Benefits Manager
3 days ago
Position- Compensation and Benefits Manager
Experience- 6+ years
Location- Mumbai
CTC- Upto 40 LPA
Job Description:
● Compensation Strategy: Develop, implement, and continuously enhance a
comprehensive compensation strategy that is industry first & aligns with the
organization's goals, industry benchmarks, and best practices.
● Incentive Scheme Design: Utilize your expertise to design, review, and implement
incentive schemes that incentivize high performance and reinforce our company's values
and culture.
● Salary Surveys and Benchmarking: Conduct regular market research and salary surveys
to ensure our compensation packages remain competitive.
● Benefits: Oversee the administration of employee benefits, introduce new benefits
to create competitive advantage to attract new talent and excite the employees,
ensure compliance with relevant regulations and cost-effectiveness.
● Compensation Compliance: Stay up-to-date with labour laws and regulations related to
compensation, ensuring our practices remain compliant at all times.
● Performance Evaluation: Collaborate to design and implement effective performance
evaluation processes tied to the incentive schemes, providing valuable feedback to
employees and managers.
● Data Analysis: Analyze compensation data and trends to make informed decisions about
adjustments, salary ranges, and reward structures.
● Employee Communication: Develop clear and concise communication materials to
educate employees about compensation and benefits programs, ensuring a transparent
and a well-understood process.
● Budget Management: Manage the compensation and benefits budget, working closely
with finance to allocate resources effectively.
● Collaboration: Work collaboratively with cross-functional teams, such as People Success
Business Partnering, Finance, Talent Acquisition and business teams, to align
compensation practices with broader HR strategies.
What will make you a good fit:
● Masters degree in Human Resources, Business Administration, or a related field.
● Proven experience of 6+ years in Compensation & Benefits or similar role, with a focus
on designing incentive schemes.
● Strong knowledge of compensation and benefits practices, including market trends and
regulatory requirements.
● Experience with salary survey participation and data analysis to drive compensation
decisions.
● Strong understanding of performance management processes and their relationship with
compensation and incentives.
● Exceptional communication and presentation skills.
● Strategic mindset with the ability to align compensation practices with overall business
goals.
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