AddressCompensation & Benefits Specialist
Position Name: Compensation & Benefits Specialist
Location: Worli, Mumbai
Exp: Min 2-4 Years
Job Overview:
As a Compensation and Benefits Specialist, the incumbent will play a crucial role in designing, implementing, and managing our compensation and benefits programs and will collaborate with cross-functional teams to ensure competitive and attractive total rewards packages that align with our organizational objectives. This position requires a keen understanding of market trends, compliance, and a strategic approach to optimizing our compensation and benefits offerings.
Key Responsibilities:
Compensation Analysis:
- Conduct regular market research to assess the competitiveness of our compensation structures.
- Analyze internal and external salary data to ensure equitable pay practices.
- Develop and maintain salary structures that align with industry standards and company goals.
Benefits Administration:
- Manage employee benefits programs, including health insurance, retirement plans, and other perks.
- Stay informed about industry trends and legislative changes to ensure compliance.
- Collaborate with vendors to evaluate and enhance benefit offerings.
Job Evaluation and Grading:
- Conduct job evaluations to ensure accurate position classification and leveling.
- Develop and maintain a job grading system to support consistent and fair compensation practices.
Policy Development:
- Work with HR leadership to develop and update compensation and benefits policies.
- Ensure policies align with legal requirements and industry best practices.
Communication and Education:
- Communicate changes in compensation and benefits programs to employees.
- Provide education and guidance to employees on total rewards offerings.
Qualifications & Required Skills:
- Bachelor's/PG degree in Human Resources, Business Administration, or related field.
- 2-4 years of experience in compensation and benefits administration.
- In-depth knowledge of relevant employment laws and regulations.
- Strong analytical and problem-solving skills.
- Excellent communication and interpersonal skills.
