Chief Compensation Strategist

1 week ago

Kozhikode, Kerala, India beBeeBenefits Full time ₹ 1,50,00,000 - ₹ 2,50,00,000
Job Title: Compensation and Benefits Manager

 

Job Summary:

We are seeking a highly analytical and strategic compensation professional to design, implement, and manage our organization's compensation 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 our business goals and compliance requirements.

 

Responsibilities:

  • Compensation Structure Management: Design, implement, and manage the company's compensation structure (salary bands, pay grades, allowances, bonuses, incentives).
  • Market Research and Benchmarking: Conduct benchmarking and market surveys to ensure competitive pay practices within the industry.
  • Strategic Partnership: Partner with HR and business leaders to develop compensation strategies aligned with organizational goals.
  • Internal Equity and Consistency: Ensure internal equity and consistency across roles, levels, and geographies.
  • Employee Benefits Management: Manage employee benefits programs (health insurance, retirement plans, wellness initiatives, leave policies, etc.).
  • Vendor Negotiation: Negotiate with insurance providers, PF/ESI consultants, and benefits vendors for cost efficiency.
  • Benefits Review and Update: Regularly review and update benefits to ensure relevance, competitiveness, and employee satisfaction.
  • Incentive Programs Development: Develop and manage incentive programs, performance bonuses, and recognition frameworks.
  • Performance Linkage: Work closely with HRBPs and line managers to link performance with compensation outcomes.
  • Payroll Administration: Administer annual salary reviews, promotions, and variable pay cycles.
  • Compliance: Ensure compliance with statutory labor laws, tax regulations, and wage legislation (PF, ESI, gratuity, bonus act, etc.).
  • Internal and External Audits Support: Support internal and external audits related to payroll and benefits.
  • Accurate Record Keeping: Maintain accurate compensation records, policies, and reporting standards.
  • Analytics and Reporting: Develop dashboards and analytics on compensation trends, cost impact, and employee benefit utilization.
  • Management Reporting: Prepare management reports on salary structures, workforce costs, and pay competitiveness.
  • Workforce Planning and Retention Strategies: Provide insights for workforce planning, budgeting, and retention strategies.

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