Head - Compensation & Benefits/Payroll (5-10 yrs)

CTC: 11 to 20 LPA

Company Profile - BPM involved in Financial and Accounting offshoring

Location: Noida

Reports To: Head HR

Department: Human Resources

Job Summary:

The Compensation and Benefits Manager will lead the design, implementation, and management of the organization's compensation and benefits strategy, ensuring alignment with business goals, market competitiveness, and legal compliance. This role will focus on optimizing compensation plans, managing benefits programs, and conducting data-driven analysis to monitor compensation trends, statutory compliance, and cost-efficiency across departments.


KEY RESPONSIBILITIES:

1. Compensation Strategy & Administration:

- Develop, implement, and manage competitive compensation structures and benefits programs that align with organizational goals, industry best practices, and market benchmarks.

- Design and maintain base salary structures, variable pay plans, long-term incentives, bonuses, and allowances.

- Conduct comprehensive market surveys to ensure the organizations compensation and benefits packages are competitive and in line with industry standards.

- Lead the job evaluation process to ensure internal equity and alignment with compensation philosophy.

2. Statutory Compliance:

- Ensure that the organization complies with all relevant labor laws, tax regulations, and statutory requirements in compensation and benefits (e.g., Provident Fund, Gratuity, ESIC, Minimum Wages Act, Bonus, etc.).

- Oversee the preparation and submission of statutory returns related to employee compensation (e.g., PF, ESI, etc.) within the stipulated timelines.

- Stay up to date on changes in local, state, and federal labor laws to ensure organizational compliance and mitigate legal risks.

3. Data Analysis & Reporting:

- Design and maintain high-level compensation dashboards to track compensation trends, benefits utilization, and overall cost efficiency. Head Comp & Ben

- Provide detailed reporting on compensation metrics, including pay equity, salary ranges, variable pay, and benefits utilization.

- Develop departmental salary trends and reports to assess compensation competitiveness across different business units.

- Analyze "Cost of Hire" metrics and make data-driven recommendations to optimize recruitment strategies and control compensation expenses.

4. Compensation Review & Benchmarking:

- Oversee annual compensation reviews, ensuring that salary increases, bonuses, and other compensation elements align with market conditions and business performance.

- Analyze salary trends by department and job role to identify opportunities for alignment with market benchmarks and internal equity.

- Conduct ad-hoc analysis and salary audits to identify pay discrepancies and resolve compensation-related issues.

5. Employee Benefits Program Management:

- Manage employee benefits programs including health insurance, retirement plans, leave policies, and wellness programs.

- Evaluate and manage relationships with external benefit providers and ensure the organizations benefits offerings are competitive.

- Drive initiatives to improve benefits utilization and enhance employee satisfaction with available benefits.

6. Statutory Compliance Management:

- Ensure that all compensation and benefit programs are compliant with statutory regulations, including tax laws, provident fund, gratuity, ESIC, and other employee welfare laws.

- Monitor and ensure timely filings for all statutory compliance requirements related to employee compensation, deductions, and benefits.

- Keep up to date with changes in labor laws and statutory requirements to ensure that Company always remains compliant.

7. Cost Management:

- Monitor and manage the compensation-related cost to ensure alignment with organizational budgetary goals.

- Collaborate with finance and leadership teams to develop compensation forecasts and models. Head Comp & Ben

- Advise on cost-effective approaches to talent attraction and retention while maintaining competitive compensation packages.

8. Strategic Collaboration:

- Work closely with leadership, HR business partners, and department heads to align compensation strategies with business objectives.

- Provide compensation-related guidance for talent acquisition and retention strategies.

- Collaborate with the HR team to provide seamless and comprehensive employee experience from recruitment to retirement.

KEY SKILLS & QUALIFICATIONS:

Education:

- MBA (Human Resources) Full Time

- Advanced certifications (e.g., Certified Compensation Professional - CCP, SHRM-SCP) preferred.

Experience:

- 5+ years of experience in compensation and benefits management, with at least 2 years in a leadership role.

- In-depth knowledge of statutory compliance related to compensation and benefits.

- Proven experience in data analysis, using tools like Excel, HRIS, and compensation benchmarking platforms.

- Expertise in managing salary surveys and understanding market trends.

Skills:

- Strong analytical and problem-solving skills, with the ability to present complex data to senior management.

- Exceptional understanding of compensation structures, benefits plans, and regulatory compliance.

- Excellent communication, negotiation, and interpersonal skills.

- Ability to manage multiple priorities, projects, and stakeholders simultaneously.

- Tools/Software Knowledge: Head Comp & Ben

- Proficient in HRIS (e.g., Workday, SAP SuccessFactors, ADP).

- Strong skills in MS Excel, including advanced functions (pivot tables, VLOOKUP, etc.).

- Familiarity with compensation benchmarking tools (e.g., Mercer, Willis Towers Watson).