Compensation Specialist

4 days ago

Rajahmundry, Andhra Pradesh, India beBeeCompensation Full time ₹ 1,86,18,750 - ₹ 2,43,25,000
Compensation Expert

The role of a Compensation Expert involves designing compensation structures, determining salary ranges, and communicating compensation programs to employees and management.

This position requires strong analytical and communication skills, as well as experience in people leadership and benefits portfolio management. The ideal candidate will have a deep understanding of budgeting, vendor assessment, data requirement gathering, project management, and process design and governance.

Key Responsibilities

  • Balance compliance, cost control, and staff attraction in the organization's compensation structure.
  • Develop and execute technology roadmaps for market intelligence and annual planning.
  • Perform quantitative and qualitative data analysis of key market indicators via dashboard design including predictive analytics.
  • Maintain an enterprise-level focus on compensation management activities while understanding unique characteristics of state entities with varied missions.
  • Consult with and educate senior leaders and managers on the compensation philosophy, policies, and structures.
  • Research and analyze market data to develop compensation structures and conduct ad hoc analysis for business leaders on key skills or talent.
  • Support HR professionals within the CoE and the development of a global HR organization delivering client services.
  • Undertake job evaluations to ensure fair pay differences between jobs.
  • Prepare RFPs and shortlist vendors ensuring timely completion of appraisal cycles/revision cycles.

Benefits Operations

  • Drive wellbeing and benefits operations professionals to enable the development and successful implementation of health and wellbeing policies and programs.
  • Responsible for defining problem statements, goal setting, performance management, escalation management, and coaching/mentoring the operations team across health, wellbeing, and operations functions.
  • Work closely with senior leadership, HR, HQ benefits, and wellbeing teams to build consensus and support for the India Health and Wellbeing Strategy.
  • Foster communication and branding of all associate benefits.
  • Drive insurance renewal for the Fiserv India entity.
  • Develop an approach for administering health and wellbeing programs in collaboration with local and global teams.
  • Drive vendor market intelligence across the broader benefits portfolio and optimize ROI.
  • Manage multiple vendors/services contracts and renewals.
  • Lead internal governance of functional metrics and health/insurance dashboards.
  • Drive finalization of annual engagement calendars in partnership with site excellence and implement events in conjunction with global and India teams.
  • Work with leaders, HRBPs, Talent Acquisition, and leadership teams to communicate/amplify Fiserv India's Benefits philosophy and educate team members on Total Rewards in partnership with communications.
  • Manage and monitor health and wellbeing budgets and insurance.
  • Owning company-wide special projects aligned to team/organizational needs.

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