Sr. Executive - Compensation & Benefits

Responsibilities

• 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. on a monthly basis.
• 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 company’s 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.

Qualifications

• MBA in Human Resources or equivalent
• Ideal Experience Range: 08-11 Years (with at-least 7 years of experience in C&B)
• Minimum Experience Range: 07:10 Years (with at-least 6 years of experience in C&B)

Functional Skills

• Job Evaluation & Grading 
• Salary Benchmarking
• Statutory Compliance knowledge
• Understanding of Payroll & Taxation
• Data Analysis using MS Office & Power BI

Behavioral Skills

• Reasoning & Analysis
• Adaptability & Flexibility
• Execution & Implementation
• Result Orientation
• Time Management