Manager Compensation

6 days ago

Bengaluru, Karnataka, India Randstad Full time ₹ 1,04,000 - ₹ 1,30,878 per year

As the Compensation and Benefits (C&B) Manager, the primary responsibility is to oversee and manage the organization's compensation and benefits programs. This entails designing, implementing, and administering competitive and effective strategies to attract and retain high caliber talent.

The C&B Manager collaborates with various departments to ensure alignment with organizational goals and compliance with pertinent regulations.

Furthermore, the role involves analysing market trends, benchmarking data, and conducting regular reviews to maintain the competitiveness and fairness of the compensation and benefits packages.

The C&B Manager is pivotal in cultivating a positive work environment and supporting the overarching HR strategy by optimizing the company's rewards and recognition programs.

Role & responsibilities :

  • Monitoring and managing performance appraisal systems, short term incentive plans, salary benchmarking, benefits benchmarking & renewals.
  • Oversee the company salary and benefit structure and well as lead competitive market research to establish pay practices and systems for effectiveness.
  • Leading the annual salary review, considering internal & external parity for salary revision and promotion recommendation.
  • Salary benchmarking for different grades and designations and deriving benefits accordingly.
  • To lead and manage changes in compensation and benefits structures, ensuring a smooth transition for employees
  • Ensuring that solutions are compliant to existing governmental and labour requirement, protect the interest of the organization in accordance with HR policies
  • To oversee the administration activities relating to C&B from remuneration review including all allowances, Pay for performance, Design and Calculation
  • Strategizing, leading and managing all projects, related to employee compensation and benefits
  • Rack and identify trends in benefits program data to assist in making recommendations for management.
  • Provide analytical support like pay trends, cost of labour, recommendations on salary packages, review benchmark positions.

Providing input on the Function's budget requirements and accordingly control expenses of the Reward Function, ensuring it stays within its operating budget

Preferred candidate profile :

  • Overall experience of 10+ years is essential
  • Experience5-8+ years of experience in Compensation and Benefits, with programs such as car lease, creche, NPS, gratuity, Flexi pay etc.
  • Familiarity with HRIS (Human Resources Information System) and other relevant technologies for effectively managing compensation and benefits data

Experience in a relationship and stakeholder management.

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