Compensation Benefits Manager

1 week ago

Madurai, Tamil Nadu, India Aurolab Full time

Position Title:

Manager- Compensation and BenefitsReports to:

Head-Human RecoursesDivision / Department :

Human ResourcesLocation / Site:
Aurolab, Madurai

JOB PURPOSE:
As Manager-Compensation and Benefits at Aurolab, the role is pivotal in ensuring that the company's compensation and benefits programs are effectively designed, implemented, and managed to attract, retain, and motivate employees while aligning with organizational goals and budgetary constraints

Key Responsibilities:
Compensation Analysis and Strategy DevelopmentConduct market research and benchmarking to evaluate the competitiveness of the organization's compensation packages.
Develop and implement compensation strategies that attract and retain talent while balancing the company's budgetary constraints.
Analyze compensation trends and make recommendations to management based on data-driven insights.
Benefits Administration and ManagementAdminister employee benefits programs, including health insurance, retirement plans, leave policies, and other perks.
Evaluate and negotiate contracts with benefit providers to ensure cost-effectiveness and quality of services.
Communicate benefits information to employees and facilitate enrollment processes.

Policy Development and ComplianceDevelop, implement, and communicate compensation and benefits policies and procedures to ensure consistency and fairness across the organization.

Ensure compliance with relevant labor laws, regulations, and reporting requirements related to compensation and benefits.
Stay informed about changes in legislation and industry trends that may impact compensation and benefits practices.

Performance Management and Incentive ProgramsCollaborate with HR and management to design and implement performance management systems that link compensation to individual and organizational performance.

Develop and administer incentive programs, including bonuses, commissions, and profit-sharing plans, to reward high performers and drive desired behaviors.
Employee Communication and EducationCommunicate effectively with employees about compensation and benefits programs, policies, and changes.
Provide education and guidance to employees on understanding their total compensation package, including salary, bonuses, benefits, and perks.


Data Analysis and Reportinganalyze, and interpret compensation and benefits data to identify trends, outliers, and areas for improvement.reports and presentations for management and stakeholders, summarizing key findings and recommendations for decision-making.

Vendor Management and Budget Oversightrelationships with external vendors, consultants, and service providers involved in compensation and benefits control the budget for compensation and benefits programs, ensuring cost-effectiveness and financial sustainability.

Employee Relations and Supportsupport to employees regarding compensation and benefits inquiries, issues, and disputes.employee concerns and grievances related to compensation and benefits in a timely and effective manner.


Position Requirements:

Educational Qualifications:
A bachelor's degree in Human Resources Management, Business Administration, Finance, Economics, or a related field is typically required. Specialization in compensation and benefits, HR management, or a related discipline is often preferred

Experience:7-12 Years' experience in Manufacturing industries

Competencies:
(Technical & Behavioural)LawDetail orientedBenefits SoftwareAnalyticsLeadershipDetermining Market RatesDevelop Salary StructureHRISComplianceLabour Law

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