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Strategic Compensation Specialist

2 weeks ago

Pune, Maharashtra, India beBeeCompensation Full time ₹ 20,00,000 - ₹ 30,00,000
Role Summary:

Job Title: Compensation and Benefits Strategist

We are seeking an accomplished professional to lead our compensation and benefits strategy, drive performance management, and implement talent initiatives.

Key Responsibilities:

  • Craft and execute the annual compensation cycle, including base salary reviews, short-term incentives (STI), and long-term incentives (LTI).

  • Collaborate with external vendors and leverage market surveys for benchmarking to maintain competitive compensation structures.

  • Define and manage salary bands, compa-ratios, and pay mix frameworks for fairness and effectiveness.

Performance Management System (PMS):

  • Oversee the full PMS lifecycle: goal-setting, mid-year reviews, calibration, final appraisals, feedback mechanisms, and development planning.

  • Guide HR Business Partners (HRBPs) and line managers in embedding performance culture and aligning individual goals with business strategy.

Talent Projects & Strategic Initiatives:

  • Lead or support initiatives like succession planning, identification of high-potential employees, and talent pipeline development.

  • Design and implement talent-related projects (e.g., Individual Development Plans (IDPs), rotational programs, leadership development).

Benefits & Recognition:

  • Manage the benefits portfolio including health insurance, retirement schemes, wellness programs, and recognition awards.

  • Create recognition frameworks tied to organizational values and employee engagement metrics.

Analytics, Reporting & Governance:

  • Develop dashboards and reports on compensation trends, PMS outcomes, and utilization of benefits to inform strategic decision-making.

  • Ensure compliance with statutory requirements, internal audit norms, and internal equity standards.

Qualifications:

  • Education - Bachelor's or Master's in Human Resources, Business Administration, Finance, or related field. Certifications (e.g., Certified Compensation Professional (CCP), Certified Benefits Professional (CBP)) are advantageous.

  • Experience - Over 5 years in Compensation and Benefits, performance management, and talent initiatives. Proven mentorship in incentive cycles (STI/LTI).

  • Technical Skills - Proficiency in Human Resource Management Systems (HRMS)/Performance Management Systems (PMS) platforms (e.g., SAP SuccessFactors), advanced Excel, Human Resource analytics.