Job Summary
We are seeking a highly analytical and strategic Compensation & Benefits Manager to design, implement, and manage the organizations 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 the companys business goals and compliance requirements.
Responsibilities:
- Design, implement, and manage the companys 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.
Didn’t find the job appropriate? Report this Job
