Compensation Strategy Manager

1 week ago

Jodhpur, Rajasthan, India beBeePay Full time ₹ 12,00,000 - ₹ 25,00,000
Compensation Strategy Manager

We are seeking a highly analytical and strategic Compensation Strategy Manager to design, implement and manage the organization's pay structures, rewards programs and employee benefits. The role is critical in ensuring fair, competitive and performance-driven pay practices that attract, retain and motivate top talent while aligning with business goals and compliance requirements.

  • Develop, implement and manage the company's compensation structure (salary bands, pay grades, allowances, bonuses, incentives).
  • Conduct benchmarking and market surveys to ensure competitive pay practices within the industry.
  • Partner with HR and business leaders to develop compensation strategies aligned with organizational goals.
  • Ensure internal equity and consistency across roles, levels and geographies.
  • Manage employee benefits programs (health insurance, retirement plans, wellness initiatives, leave policies etc.).
  • Negotiate with insurance providers, PF/ESI consultants and benefits vendors for cost efficiency.
  • Regularly review and update benefits to ensure relevance, competitiveness and employee satisfaction.
  • Develop and manage incentive programs, performance bonuses and recognition frameworks.
  • Work closely with HRBPs and line managers to link performance with compensation outcomes.
  • Administer annual salary reviews, promotions and variable pay cycles.
  • Ensure compliance with statutory labor laws, tax regulations and wage legislation (PF, ESI, gratuity, bonus act etc.).
  • Support internal and external audits related to payroll and benefits.
  • Maintain accurate compensation records, policies and reporting standards.
  • Develop dashboards and analytics on compensation trends, cost impact and employee benefit utilization.
  • Prepare management reports on salary structures, workforce costs and pay competitiveness.
  • Provide insights for workforce planning, budgeting and retention strategies.

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