Compensation Benefits Specialist

2 days ago

Mumbai Maharashtra India, Maharashtra CMA CGM Global Business Services Full time

QualificationsBachelor’s or Masters degree in Business Administration, Project Management, or related field.Experience: 2 to 4 Years of relevant experience in Compensation & BenefitsCertifications (if any): Relevant certifications such Certified Compensation Professional ( CCP ) is desirable. COMPENSATION MANAGEMENTJob Analysis and Evaluation: Understanding the various methods for assessing the worth and complexity of different jobs within the organization. Participate in HO projects for Job Mapping based on recommended architecture.Salary Structures and Pay Ranges: Designing and maintaining fair and competitive pay structures with defined salary ranges for different positions. Salary recommendations and fitments on internal movements / transfers and promotions. Sharing Salary proposals to recruitment team for external candidates.Salary Administration: Responsible for administering salary increases, bonuses, Variable Pay and incentive programs based on established guidelines and performance reviews. Liaison with payroll team on inputs.Market Research and Benchmarking ( Internal & External ) : Staying informed about current compensation trends and conducting salary surveys to ensure the organization's pay offerings remain competitive within the market. Performing analysis on compensation benchmarking surveys carried out annually, bi-annual and as per requirement.Administrative Activities : Updating internal documents / letters and MyHR data. Managing employee database effectively. HR ANALYTICS & REPORTINGInternal Pay Equity Analysis: C&B experts design and implement various employee benefit programs to meet employee needs, considering factors like cost, compliance, and industry best practicesInternal Pay Equity Analysis : Providing data point to assess how individual and overall compensation cost aligns with established targets while considering other factors like performance, experience, and market data for a comprehensive understanding of an employee's compensation.Budgets vs Actual : Keeping an eye on any variances while tracking budgets and actuals.C&B Dashboards: Develop interactive dashboards that provide a real-time overview of key metrics to leadership team. BENEFITS ADMINISTRATIONBenefit Programs: Introducing different programs which have benefit offerings such as health insurance plans, retirement savings plans, paid time off policies, and voluntary benefits.

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