Compensation Specialist

5 days ago

Hyderabad, Telangana, India beBeeCompensation Full time ₹ 2,03,00,000 - ₹ 2,51,30,000
Job Overview

A highly skilled compensation and benefits expert is required to align the organization's practices with its overall HR and organizational philosophy.

The role involves designing compensation structures, determining salary ranges, managing annual salary revisions, communicating compensation programs to employees and management, and monitoring the compensation program for improvements.

Key Responsibilities:

  • Develop and implement a balanced compensation structure that meets compliance requirements while controlling costs and attracting/retaining staff.
  • Analyze key market intelligence indicators via dashboards and predictive analytics, collaborating with stakeholders to inform actionable insights.
  • Maintain enterprise-level focus on compensation management activities while considering unique characteristics of state entities with diverse missions.
  • Consult with Sr. Leaders and managers on the organization's Compensation philosophy, policies, and structures.
  • Research and analyze market data to inform compensation structure development and provide ad hoc analysis for business leaders on key skills or talent.
  • Support HR professionals in developing a global organization delivering client-centric services.
  • Conduct job evaluations to ensure fair pay differences between roles and perceived fairness by employees.
  • Prepare RFPs and shortlist vendors, ensuring timely completion of appraisal/review cycles.

Benefits Focus:

  • Drive wellbeing and benefits operations professionals to develop and implement health and mental wellbeing policies and programs in collaboration with local and global teams.
  • Define problem statements, set goals, manage performance, escalate issues, and coach/mentor operations teams across health, wellbeing, and operations functions.
  • Work closely with senior leadership, HR, HQ Benefits, and Wellbeing teams to build consensus and support for the organization's Health and Wellbeing Strategy.
  • Focus on communication and branding of all associate benefits.
  • Drive insurance renewal for the organization.
  • Develop approaches for administering health and wellbeing programs in collaboration with local and global teams.
  • Drive vendor market intelligence across the broader benefits portfolio and help 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 local teams.
  • Work with Leaders, HRBPs, Talent Acquisition, and leadership teams to effectively communicate/amplify the organization's Benefits philosophy and educate team members on Total Rewards value.
  • Manage and monitor health and wellbeing budgets and insurance.
  • Own company-wide special projects aligned to team/organizational needs.

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