Compensation Benefits Specialist

Job Description:

We are seeking a motivated and experienced Compensation and Benefits Specialist with relevant of experience and an MBA in HR to join our dynamic team in Pune. The ideal candidate will have strong analytical capabilities, advanced Excel skills, and a keen interest in driving digital transformation in the compensation and benefits space.

Key Responsibilities:

1. Compensation Management:

- Design, implement, and manage salary structures, incentive plans, and rewards programs aligned with organizational goals.

- Conduct market benchmarking and job evaluation to maintain a competitive compensation framework.

- Support annual salary reviews, bonus processing, and performance-linked rewards programs.

2. Benefits Administration:

- Design and Implement benefits programs including health insurance, retirement plans, and other employee welfare initiatives.

- Evaluate and recommend enhancements to the existing benefits structure based on employee feedback and market trends.

3. Data Analysis and Reporting:

- Use advanced Excel to create dashboards, perform data modelling, and analyse compensation trends for decision-making.

- Generate periodic reports for leadership on compensation costs, benefits utilization, and ROI analysis.

4. Digital Transformation:

- Identify opportunities for process improvement and automation in compensation and benefits workflows.

- Partner with IT and external vendors to implement digital tools and systems for efficient management.

5. Compliance and Auditing:

- Ensure all compensation and benefits programs comply with local labor laws, tax regulations, and organizational policies.

- Conduct regular audits to ensure accuracy and adherence to standards.

6. Stakeholder Collaboration:

- Partner with HR business partners and leadership to address compensation and benefits related queries and provide strategic advice.

- Educate employees on benefits programs and address concerns effectively.

Qualifications:

- Education: MBA in Human Resources or a related field.

- Experience: 5-10 years in compensation and benefits, preferably within a medium to large-scale organization.

Technical Skills:

- Advanced Excel skills (pivot tables, macros, data visualization).

- Familiarity with HRIS and payroll software; experience in digital transformation is a plus.

Competencies:

- Strong analytical and problem-solving skills.

- Excellent communication and interpersonal skills.

- Ability to manage multiple priorities and work under tight deadlines.