Lead - Total Rewards

7 - 10 years

8 - 9 Lacs

Posted:1 week ago| Platform: Foundit logo

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Work Mode

On-site

Job Type

Full Time

Job Description

Your Role in Our Mission:

As the Compensation and Benefits Manager, you'll play a pivotal role in shaping our total rewards strategy:

1. Compensation Strategy and Design:

  • Develop, implement, and manage the organization's

    compensation philosophy

    and strategy.
  • Design and maintain

    salary structures

    , pay grades, and

    incentive programs

    .
  • Conduct

    market research

    and benchmark salary data (preferably experience with

    AON

    ).
  • Oversee merit increases, promotions, and incentive program implementations.
  • Provide strategic leadership and consultation on compensation-related matters.

2. Benefits Program Management:

  • Manage employee benefits programs, including

    health insurance

    ,

    retirement plans

    ,

    wellness programs

    , and other perks.
  • Negotiate with external vendors and brokers to optimize benefit offerings and costs.
  • Ensure compliance with benefits regulations at federal, state, and local levels.
  • Collaborate with HR to effectively communicate benefits to employees.

3. Data Analysis and Reporting:

  • Analyze compensation and benefits data to identify trends, gaps, and improvement opportunities.
  • Develop and present reports to senior leadership on performance, costs, and program effectiveness.

4. Compliance and Legal Knowledge:

  • Ensure all compensation and benefits programs comply with labor laws, benefits regulations, and tax laws.
  • Regularly review and update policies to reflect changing legal requirements.

5. Employee Education and Communication:

  • Conduct training sessions for employees and managers on compensation policies and benefits programs.
  • Act as the primary point of contact for employee queries regarding compensation and benefits.

6. Performance Management and Reward Systems:

  • Partner with HR to integrate compensation and benefits into performance management and recognition programs.
  • Advise leadership on reward strategies to support talent retention, motivation, and attraction.

7. Project Management:

  • Lead or participate in compensation/benefits projects, including system upgrades, open enrollment, and redesign initiatives.
  • Stay updated on industry trends and recommend new structures aligned with best practices.

Required Skills and Qualifications:

  • Experience:

    710 years in compensation and benefits management.
  • Education:

    MBA in

    Human Resources

    or a related field preferred.
  • Certifications:

    Professional certifications in HR, Compensation, or Benefits are a plus.
  • Technical Expertise:

    Proficiency in

    SAP SuccessFactors (SF)

    , payroll systems, and data analysis tools (

    Excel

    ,

    Power BI

    ).
  • Knowledge:

    Strong understanding of compensation structures, benefits regulations, labor laws, and market trends.
  • Analytical Skills:

    Strong quantitative and qualitative analysis abilities.
  • Communication Skills:

    Excellent written and verbal communication for effective interaction with stakeholders.

Preferred Skills:

  • Ability to lead change and innovation in compensation/benefits strategies.
  • Global compensation experience

    in multinational environments.
  • Advanced data analysis or predictive modeling skills in compensation.
  • Strong leadership skills with the ability to work independently and manage teams.

What You Should Expect in This Role:

  • A dynamic, fast-paced work environment with opportunities for strategic influence.
  • A collaborative, supportive culture where innovation is encouraged.
  • Flexibility with a hybrid work environment (if applicable).

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