Senior Manager - Compensation & Benefits (8-10 yrs)

Senior Manager - Compensation & Benefits

Position Overview:

- We are seeking an experienced and dynamic Senior Manager - Compensation & Benefits to lead and manage the entire Compensation & Benefits (C&B) function for our organization.

- The ideal candidate will have a proven track record in designing, implementing, and managing compensation programs, benefits schemes, and payroll operations for a large workforce (12,000+ employees).

- This role requires strong leadership, in-depth knowledge of C&B best practices, exceptional analytical abilities, and excellent communication skills to collaborate with senior management and other cross-functional teams.

Key Responsibilities:

1. Leadership & Strategy:

- Lead and drive the overall compensation & benefits strategy aligned with organizational goals.

- Collaborate with senior leadership and HR business partners to develop and implement competitive compensation structures and benefits programs.

- Oversee the administration of compensation and benefits processes across all levels of the organization, ensuring fairness and equity.

2. Payroll Management:

- Manage end-to-end payroll processing for 12,000+ employees, ensuring timely and accurate payroll processing across multiple locations.

- Ensure compliance with all local, state, and national regulations related to payroll, tax, and benefits.

- Develop and maintain payroll schedules, coordinate data collection, and resolve discrepancies.

- Ensure efficient use of HRIS systems to streamline payroll processing and reporting.

3. Compliance with Legal and Regulatory Requirements:

- Ensure adherence to all relevant government rules, regulations, and compliance requirements related to compensation, benefits, payroll, and taxation.

- Stay up-to-date on changes in labor laws, tax regulations, and compensation-related legislation at local, state, and national levels.

- Ensure company compliance with minimum wage laws, overtime regulations, and any other statutory requirements.

- Monitor government regulations regarding benefits, tax implications, retirement plans, and leave entitlements.

- Maintain accurate documentation to comply with audit requirements and government filings.

4. Taxation & Reporting:

- Oversee tax calculations related to employee compensation, including income tax, social security, and other statutory deductions.

- Ensure timely filing and payment of payroll-related taxes, ensuring compliance with federal, state, and local tax authorities.

- Advise management on tax-efficient compensation structures and employee benefits, considering both organizational needs and compliance with tax laws.

5. Compensation Grading & Job Evaluation:

- Develop and maintain a compensation grading methodology that aligns with the company's compensation strategy, ensuring internal equity and external competitiveness.

- Lead the implementation of job evaluation frameworks to assess job roles, responsibilities, and levels, ensuring clear distinctions in compensation for different job grades.

- Conduct regular reviews of the compensation structure to ensure that it reflects the evolving needs of the business and the external market environment.

- Work with HR teams to ensure that compensation practices support recruitment, retention, and motivation strategies.

6. Compensation Design & Analysis:

- Design and implement competitive salary structures, incentive programs, and bonus schemes.

- Conduct periodic salary surveys and market analysis to ensure the company remains competitive within the industry and retains top talent.

- Analyze compensation data to identify trends, cost implications, and potential areas for improvement or adjustment.

- Provide recommendations on salary increases, promotions, and merit-based adjustments.

7. Benefits Management:

- Oversee the administration of employee benefits programs including health, retirement, insurance, wellness initiatives, and leave policies.

- Manage relationships with external vendors and service providers to ensure cost-effectiveness and quality of benefits offerings.

- Continuously evaluate and optimize benefits programs to enhance employee satisfaction while managing costs.

8. Communication & Collaboration:

- Serve as the primary point of contact for all compensation and benefits-related queries from employees, HR, and management.

- Ensure clear communication of compensation and benefits policies to employees, making sure they understand the value of their total rewards package.

- Prepare and present detailed reports and presentations to senior leadership, including compensation analysis and recommendations for strategic decision-making.

- Lead change management initiatives for new compensation and benefits programs, ensuring smooth implementation and employee buy-in.

9. Compliance & Best Practices:

- Monitor industry trends, legislative changes, and best practices to ensure the organization remains competitive and compliant.

- Conduct internal audits and assessments to maintain data integrity and audit readiness.

10. Team Leadership & Development:

- Lead, mentor, and develop a team of C&B professionals to ensure high performance and growth.

- Foster a culture of continuous improvement within the team, encouraging innovation, efficiency, and professionalism.

Key Requirements:

- Master degree in Human Resources, Business Administration, Finance, or a related field

- 8+ years of experience in Compensation & Benefits, with at least 3-4 years in a leadership role.

- Hands-on experience in managing payroll for a large workforce (12,000+ employees).

- Strong analytical skills with the ability to interpret complex data and provide actionable insights.

- Advanced knowledge of compensation benchmarking, job evaluation, salary structure design, and compensation grading methodologies.

- In-depth knowledge of benefits administration, including health, retirement, and other employee perks.

- Strong understanding of taxation laws, minimum wage requirements, and other government regulations affecting employee compensation and benefits.

- Proficiency with HRIS and payroll systems

- Strong communication skills, with the ability to influence and build relationships with senior leadership, HR teams, and employees.

- Proven ability to manage multiple priorities in a fast-paced, high-volume environment.

Preferred Skills:

- Experience in a multinational or large-scale organization.

- Strong project management skills with experience leading cross-functional initiatives.

- Ability to work effectively in a highly collaborative and diverse environment.

- Knowledge of advanced HR analytics tools and methods.