Manager Compensation and Benefits

Role & responsibilities:

The Manager - Compensation and Benefits will oversee the development, implementation, and management of the organization's compensation and benefits programs. The role ensures that all programs are competitive, cost-effective, compliant with regulations, and aligned with organizational goals.

1. Compensation Management

• Develop, implement, and manage salary structures and pay bands for all roles across the organization.
• Conduct job evaluations to ensure consistency in role classification, salary benchmarking, and internal equity.
• Lead the annual compensation cycle, including salary increases, performance bonuses, etc.
• Stay abreast of industry trends, conduct regular market analysis, and recommend adjustments to ensure competitiveness.

2. Benefits Administration

• Oversee the design and management of employee benefits programs, including health insurance, wellness initiatives, retirement plans, and leave policies.
• Evaluate existing benefits offerings and recommend enhancements or cost-saving measures.
• Manage relationships with external vendors, brokers, and insurers to ensure high-quality service delivery and cost-effectiveness.
• Ensure timely benefits enrolment, processing, and issue resolution for employees.

3. Regulatory Compliance

• Ensure compliance with local labour laws, tax regulations, and statutory requirements related to compensation and benefits.
• Stay updated on changes in labour laws, industry standards, and regulatory requirements, and adjust policies accordingly.
• Prepare documentation and ensure compliance for audits, inspections, and reports required by regulatory bodies.

4. Data Analysis and Reporting

• Leverage HRIS and data analytics to evaluate compensation and benefits program performance.
• Prepare and present detailed reports on key metrics, including employee turnover, pay competitiveness, and benefits utilization.
• Use data to inform decision-making and provide strategic insights to senior leadership.

5. Employee Engagement and Communication

• Act as the primary point of contact for all employee queries related to compensation and benefits programs.
• Develop clear and engaging communication materials to educate employees about pay structures, benefits, and new initiatives.
• Organize workshops, training sessions, or one-on-one meetings to increase awareness and understanding of programs.
• Gather employee feedback through surveys or focus groups to assess satisfaction and identify improvement opportunities.

6. Collaboration and Leadership

• Partner with HR teams, finance teams, and leadership teams to align compensation and benefits strategies with organizational goals.
• Provide guidance to managers and department heads on salary recommendations and benefits utilization.
• Lead or contribute to cross-functional projects related to employee satisfaction, retention, and well-being.

Preferred candidate profile:

Qualification:

Bachelors degree in human resources, Business Administration, Finance, or a related field.

• A masters degree or professional certifications such as Certified Compensation Professional (CCP) or Certified Employee Benefits Specialist (CEBS) is a strong advantage.
• Minimum of 58 years of experience in compensation and benefits management.
• Proven expertise in salary benchmarking, job evaluations, and benefits program design.
• Advanced proficiency in Excel (pivot tables, formulas, data modeling).
• Hands-on experience with HRIS systems and benefits.
• Strong understanding of labour laws, compliance standards, and market trends.

Interested candidate can share their resume on pooja.kinnerkar@akesi.org.