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Manager - Compensation & Benefits - People Success Team

2 months ago

Mumbai, India Zyoin Full time

Job Summary:

As the Compensation & Benefits Manager in the People Success Team, you will be responsible for developing and overseeing our compensation and benefits programs to ensure they align with the company's overall objectives and support our talent acquisition and retention efforts. You will use your expertise in designing incentive schemes to create motivating and performance-driven reward systems that drive impact and employee engagement. The successful candidate will be a strategic thinker, detail-oriented, and possess excellent analytical skills.

What youll do:

- 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, and introduce new benefits at the company to create a competitive advantage to attract new talent and excite the employees, ensuring compliance with relevant regulations and cost-effectiveness.

- Compensation Compliance: Stay up-to-date with labor 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 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 youll need:

- 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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