Sr. Executive Compensation & Benefits

Job Description

JOB DESCRIPTION JOB TITLE Sr. Executive - Compensation & Benefits JOB LOCATION Baroda, India REPORTING TO Lead - HR Shared Services BUSINESS UNIT Centre Of Excellence SUB_BUSINESS_UNIT Centre Of Excellence DEPARTMENT Human Resources Shared Services SUB_DEPARTMENT Human Resources Shared Services (Compensation & Benefit) KEY RESPONSBILITIES Payroll Management - Coordinate with HR Operations and Finance to ensure accurate and timely payroll processing, including bonuses, variable pay, and statutory deductions like PF, ESI, TDS, etc. monthly. Salary Structure Design - Develop and maintain competitive salary structures, balancing company budget, market trends, and legal compliance. Design, implement, and monitor incentive plans and performance-linked bonuses to align employee performance with business goals. Statutory Compliance - Ensure adherence to Indian labor laws related to compensation such as Minimum Wages Act, Payment of Bonus Act, Payment of Gratuity Act, and Employee Provident Fund Act and other applicable acts Salary Benchmarking & Market Analysis - Conduct salary surveys and analyze industry trends to keep the companys compensation packages attractive and competitive. Regularly research industry standards and salary surveys to ensure company compensation remains aligned with the Indian market. Cost Analysis and Budgeting - Forecast compensation costs and prepare budgets for salary revisions, promotions, and benefits enhancements. HRIS & Data Management - Maintain updated compensation-related data in HR systems like Darwinbox and SAP SuccessFactors and generate reports for management. Job Evaluation & Grading - Implementing a transparent job evaluation framework to assess role complexity. Assign and maintain job grades, ensuring internal equity across functions and levels. Audits & Internal Reviews - Prepare documentation and reports for internal and external audits related to payroll, benefits, and compliance matters. Finalization of Yearly Increments after the Annual Appraisal Process. FUNCTIONAL SKILLS Job Evaluation & Grading Salary Benchmarking Statutory Compliance knowledge Understanding of Payroll & Taxation Data Analysis using MS Office & Power BI BEHAVIOURAL SKILLS Reasoning & Analysis Adaptability & Flexibility Execution & Implementation Result Orientation Time Management QUALIFICATION MBA (HR) EXPERIENCE 8 - 11 CERTIFICATIONS Any Relevant Certification SELECTION CRITERIA 8-10 Years of total experience in HR At least 6-7 Years of experience in Compensation & Benefits