Head - Compensation & Benefits - Consulting Firm (5-11 yrs)

1. Compensation Strategy & Administration:

- Develop, implement, and manage competitive compensation structures and benefits programs that align with organizational goals, industry best practices, and market benchmarks.

- Design and maintain base salary structures, variable pay plans, long-term incentives, bonuses, and allowances.

- Conduct comprehensive market surveys to ensure the organization's compensation and benefits packages are competitive and in line with industry standards.

- Lead the job evaluation process to ensure internal equity and alignment with compensation philosophy.

2. Statutory Compliance:

- Ensure that the organization complies with all relevant labor laws, tax regulations, and statutory requirements in compensation and benefits (e.g., Provident Fund, Gratuity, ESIC, Minimum Wages Act, Bonus, etc.).

- Oversee the preparation and submission of statutory returns related to employee compensation (e.g., PF, ESI, etc.) within the stipulated timelines.

- Stay up to date on changes in local, state, and federal labor laws to ensure organizational compliance and mitigate legal risks.

3. Data Analysis & Reporting:

- Design and maintain high-level compensation dashboards to track compensation trends, benefits utilization, and overall cost efficiency

- Provide detailed reporting on compensation metrics, including pay equity, salary ranges, variable pay, and benefits utilization.

- Develop departmental salary trends and reports to assess compensation competitiveness across different business units.

- Analyze "Cost of Hire" metrics and make data-driven recommendations to optimize recruitment strategies and control compensation expenses.

4. Compensation Review & Benchmarking:

- Oversee annual compensation reviews, ensuring that salary increases, bonuses, and other compensation elements align with market conditions and business performance.

- Analyze salary trends by department and job role to identify opportunities for alignment with market benchmarks and internal equity.

- Conduct ad-hoc analysis and salary audits to identify pay discrepancies and resolve compensation-related issues.

5. Employee Benefits Program Management:

- Manage employee benefits programs including health insurance, retirement plans, leave policies, and wellness programs.

- Evaluate and manage relationships with external benefit providers and ensure the organization's benefits offerings are competitive.

- Drive initiatives to improve benefits utilization and enhance employee

6. Statutory Compliance Management:

- Ensure that all compensation and benefit programs are compliant with statutory regulations, including tax laws, provident fund, gratuity, ESIC, and other employee welfare laws.

- Monitor and ensure timely filings for all statutory compliance requirements related to employee compensation, deductions, and benefits.

- Keep up to date with changes in labor laws and statutory requirements to ensure that SandMartin always remains compliant.

7. Cost Management:

- Monitor and manage the compensation-related cost to ensure alignment with organizational budgetary goals.

- Collaborate with finance and leadership teams to develop compensation forecasts and models.

- Advise on cost-effective approaches to talent attraction and retention while maintaining competitive compensation packages.

8. Strategic Collaboration:

- Work closely with leadership, HR business partners, and department heads to align compensation strategies with business objectives.

- Provide compensation-related guidance for talent acquisition and retention strategies.

- Collaborate with the HR team to provide seamless and comprehensive employee experience from recruitment to retirement.