Compensation Benefits Manager

Job Summary

We are seeking a highly analytical and strategic Compensation & Benefits Manager to design, implement, and manage the organization’s compensation structures, rewards programs, and employee benefits. The role is critical in ensuring fair, competitive, and performance-driven pay practices that attract, retain, and motivate top talent while aligning with the company’s business goals and compliance requirements.

• Design, implement, and manage the company’s compensation structure (salary bands, pay grades, allowances, bonuses, incentives).
• Conduct benchmarking and market surveys to ensure competitive pay practices within the industry.
• Partner with HR and business leaders to develop compensation strategies aligned with organizational goals.
• Ensure internal equity and consistency across roles, levels, and geographies.
• Manage employee benefits programs (health insurance, retirement plans, wellness initiatives, leave policies, etc.).
• Negotiate with insurance providers, PF/ESI consultants, and benefits vendors for cost efficiency.
• Regularly review and update benefits to ensure relevance, competitiveness, and employee satisfaction.
• Develop and manage incentive programs, performance bonuses, and recognition frameworks.
• Work closely with HRBPs and line managers to link performance with compensation outcomes.
• Administer annual salary reviews, promotions, and variable pay cycles.
• Ensure compliance with statutory labor laws, tax regulations, and wage legislation (PF, ESI, gratuity, bonus act, etc.).
• Support internal and external audits related to payroll and benefits.
• Maintain accurate compensation records, policies, and reporting standards.
• Develop dashboards and analytics on compensation trends, cost impact, and employee benefit utilization.
• Prepare management reports on salary structures, workforce costs, and pay competitiveness.
• Provide insights for workforce planning, budgeting, and retention strategies.