Manager - Compensation & Benefits - FMCG/FMCD (3-13 yrs)

- Develop and implement compensation strategies and structures that align with company goals and comply with legal requirements.

- Conduct regular salary surveys and market research to ensure competitive compensation practices.

- Design and manage employee benefits programs, including health insurance, retirement plans, and wellness initiatives.

- Analyze compensation data and trends to make informed decisions on salary adjustments, bonuses, and incentives.

- Collaborate with HR and management to develop job descriptions and perform job evaluations.

- Oversee the administration of employee benefits, ensuring compliance with regulations and efficient delivery.

- Prepare and present reports on compensation and benefits metrics to senior management.

- Manage vendor relationships and negotiate contracts for benefits providers.\

Key Responsibilities:

Compensation Management:

- Design, implement, and maintain compensation programs, including salary structures, incentives, and bonus plans.

- Conduct regular salary reviews to ensure internal and external equity.

- Manage annual compensation cycles, including merit reviews and variable pay planning.

Benefits Administration:

- Evaluate and enhance employee benefits offerings to improve engagement and retention.

- Oversee benefit programs such as insurance, retirement plans, and wellness initiatives.

- Partner with vendors to ensure the smooth delivery of employee benefits.

Benchmarking and Analysis:

- Conduct compensation benchmarking studies to align salary structures with market trends.

- Prepare reports and recommendations based on market analysis to inform leadership decisions.

- Monitor industry trends and regulatory changes to ensure compliance and competitiveness.

Compliance and Reporting:

- Ensure all compensation and benefits programs comply with local labor laws and regulations.

- Prepare regular dashboards and analytics on compensation trends and employee costs.

- Support audits and ensure adherence to company policies and statutory requirements.

Stakeholder Collaboration:

- Work closely with HR Business Partners and Leadership to address workforce planning and reward strategies.

- Provide training and communication on compensation and benefits policies to managers and employees.