Compensation Benefits Specialist

Job Title: Compensation & Benefits Specialist

Location:

Department:

Reports To:

Experience Required:

Joining Requirement: Immediate or within 15 days (STRICTLY)

Position Overview:

Compensation & Benefits Specialist

Key Responsibilities:

1. Compensation Strategy & Structure

• Design and implement robust

  Total Rewards framework

  comprising Fixed Pay, Variable Pay, Benefits, Recognition, and Work-Life programs.
• Establish and maintain

  pay structures, grades, and pay bands

  , including calculating

  range spreads, grade overlaps, and midpoint progression

  .
• Develop

  broadbanding or hybrid structures

  aligned with business growth, matrix models, and future scalability.
• Define and align the

  organization’s compensation philosophy

  with business affordability and strategic talent priorities.

2. Job Evaluation & Band Structuring

• Conduct

  Job Evaluation

  using

  Hay, Mercer, or Point Factor methods

  to determine internal job worth and hierarchy.
• Create and maintain

  job families, role definitions, and career progression paths

  .
• Evaluate

  job ranking vs factor-based comparisons

  for role clarity and mobility.
• Lead or support

  job branding

  initiatives to align internal communication and external talent attraction.

3. Salary Benchmarking & Market Analysis

• Conduct

  external market benchmarking

  using survey data from

  Hays, Aon, Mercer, Korn Ferry

  , etc.
• Analyze

  market percentiles (P25, P50, P75)

  to position internal pay structures competitively.
• Recommend

  corrections or enhancements

  to salary ranges based on

  internal parity and market positioning

  .
• Periodically evaluate and update the

  C&B policy manual

  , ensuring regulatory and market alignment.

4. Benefits Administration & Governance

• Oversee

  statutory and non-statutory benefits

  like health insurance, PF, gratuity, LTA, wellness programs, etc.
• Drive enhancements in

  employee wellness, work-life effectiveness, and flexible benefit programs (FBPs)

  .
• Conduct

  cost-benefit analysis and vendor evaluation

  for group benefit plans.
• Ensure

  compliance with labor laws, taxation norms, and audit standards

  for compensation and benefits.

5. Performance Rewards & Incentive Design

• Design and implement

  short-term and long-term incentive plans

  , variable pay structures, and

  KRA-linked bonus models

  .
• Integrate

  performance management outputs with pay decisions

  , ensuring a pay-for-performance culture.
• Administer

  recognition platforms

  including spot awards, service awards, and value-based reward programs.

6. Reporting, Analytics & Budgeting

• Deliver

  compensation analytics dashboards

  (C&B ratio, compa-ratio, pay equity, cost-to-company heatmaps).
• Support

  C&B budgeting, headcount planning, and forecasting

  in collaboration with Finance & Business.
• Use tools like

  Power BI, Excel, SAP SuccessFactors, Workday, or Oracle HCM

  for real-time data visualization and reporting.

Required Skills & Competencies:

Technical & Functional Skills

• Proficiency in

  Job Evaluation frameworks

  – Hay, Mercer, or equivalent
• Strong knowledge of

  Grade design, Pay band structuring, and Compensation analytics

• Ability to calculate and interpret

  Range Spread, Grade Overlap, Compa-ratio

• Knowledge of

  broadbanding, horizontally distributed job structures

• Expertise in

  Salary Benchmarking using Market Surveys

• Experience in

  Benefits Governance

  – especially in manufacturing/renewables/technology setups
• Solid grasp of

  Indian labor laws and compensation compliance frameworks

• Strong hands-on skills in

  MS Excel (VLOOKUP, Pivot, Modelling)

  and

  HRMS platforms

  (SAP, Oracle, etc.)