Head Compensation Benefits

10 hours ago

Thrissur, Kerala, India Manappuram Finance (MAFIL) Full time ₹ 15,00,000 - ₹ 30,00,000 per year

Job Title: Head Compensation and Benefits

Grade: DGM/GM/VP

Reporting To: CHRO

Department: HRM

Location: Valapad

Education Qualification: MBA/CA/Masters

Position Overview

The Head Compensation & Benefits will lead the design, implementation, and governance of the organisations total rewards strategy, ensuring market competitiveness, internal equity, and compliance with all statutory requirements. This role will be responsible for building a pay and benefits framework that drives performance, attracts top talent, retains high performers, and strengthens the employer brand.

Key Responsibilities

  • Compensation and Benefits Strategy: Develop and implement the organization's compensation and benefits strategy in line with corporate goals and industry benchmarks, establish governance frameworks, policies, and procedures for compensation and benefits administration.
  • Performance Driven Structure: Design and manage competitive salary structures, pay scales, and incentive programs. Lead annual salary review, performance-linked incentives, and promotions cycle. Oversee job evaluation processes, grading systems, and internal equity assessments. Monitor market trends, conduct salary surveys, and benchmark compensation against industry standards.
  • Benefits programs: Design and oversee benefits programs including insurance, retirement plans, leave policies, and wellness initiatives. Evaluate cost-effectiveness and employee satisfaction with benefits offerings. Negotiate with vendors and service providers to ensure high-quality, cost-efficient benefits.
  • Statutory requirements: Ensure adherence to all statutory requirements related to compensation, benefits, and payroll. Maintain compliance with labour laws, tax regulations, and internal audit requirements.
  • C&B dashboards : Develop and manage C&B dashboards and metrics for leadership reviews. Provide insights and recommendations based on compensation data, trends, and predictive analytics.
  • Partner: Partner with HR Business Partners, Finance, and Business Leaders to align rewards with performance and organizational priorities. Lead, mentor, and develop the C&B team for high performance and capability building.

Key Functional Skill

  1. Analytical Thinking – Ability to interpret complex data, market surveys, and cost models for actionable insights.

  2. Integrity & Fairness – Upholds transparency and ethical decision-making in reward allocation.

  3. Attention to Detail – Ensures accuracy in pay calculations, policies, and documentation.

  4. Business Acumen – Balances financial prudence with competitive talent rewards.

  5. Influencing Skills – Persuades stakeholders on strategic C&B decisions with evidence-based reasoning.

  6. Confidentiality – Handles sensitive salary and benefits information discreetly.

  7. Adaptability – Responds quickly to changing market pay trends and organisational needs.

  8. Employee-Centric Mindset – Designs programs that genuinely enhance employee satisfaction and retention.

Qualifications & Experience

Education: CA/ MBA / PGDM in HR or equivalent; Certification in Compensation & Benefits preferred (e.g., GRP).

Experience: Minimum 13–16 years in C&B management, with at least 5 years in a leadership role with Proven experience in designing and implementing total rewards strategies in large, multi-location organisations. Strong knowledge of labour laws, tax implications, and global/local pay practices.

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