Compensation & Benefits Specialist - BFS/IT/Online

Job Title: HR- Compensation & Benefits Specialist

Location - Bangalore

Job Overview:

As an HR- Compensation & Benefits Specialist, you will play a pivotal role in designing, implementing, and managing comprehensive compensation and benefits programs that attract, retain, and motivate top talent. You will work closely with HR, finance, and leadership teams to ensure that the organization's compensation and benefits packages are competitive, compliant, and aligned with business objectives. This position requires a strategic mindset, strong analytical skills, and a deep understanding of compensation structures and employee benefits.

Responsibilities:

Compensation Management:

- Conduct regular market research to benchmark and analyze compensation structures, ensuring competitiveness in the industry.

- Collaborate with HR and management teams to design and implement effective compensation strategies, including salary structures, bonuses, and incentives.

- Evaluate and analyze compensation data to make recommendations for adjustments and maintain internal equity.

- Ensure compliance with legal and regulatory requirements related to compensation.

Benefits Administration:

- Design, implement, and manage employee benefits programs, including health insurance, retirement plans, wellness programs, and other perks.

- Provide guidance to employees on benefit options, enrollment processes, and policy-related inquiries.

- Stay current on industry trends and best practices in benefits administration to ensure the organization remains competitive.

Policy Development:

- Develop and update policies related to compensation and benefits, ensuring alignment with organizational goals and compliance with relevant laws.

- Communicate policy changes to employees and provide education on compensation and benefits offerings.

Data Analysis and Reporting:

- Utilize data analytics tools to generate reports on compensation and benefits metrics, providing insights to support strategic decision-making.

- Monitor and analyze trends in employee compensation and benefits usage to identify areas for improvement.

Compliance and Documentation:

- Stay informed about changes in labor laws and regulations affecting compensation and benefits.

- Ensure all compensation and benefits-related documentation is accurate, up-to-date, and in compliance with relevant laws and regulations.

Communication and Education:

- Conduct employee education sessions on compensation and benefits programs.

- Work closely with HR and communication teams to develop materials and communication strategies related to compensation and benefits offerings.

Qualifications:

- Bachelor's degree in Human Resources, Business Administration, Finance, or a related field.

- Proven experience in compensation and benefits management.

- Very strong experience in LTIP Policies and ESOP's Policies.

- Strong understanding of compensation structures, benefits administration, and regulatory compliance.

- Excellent analytical and problem-solving skills.

- Strong communication and interpersonal skills.

- Detail-oriented with a high level of accuracy in work.

- Proficient in using HRIS and benefits administration software.

If you are a strategic thinker with a passion for designing and managing comprehensive compensation and benefits programs to support employee well-being and organizational success, we invite you to apply for this exciting opportunity. Join our dynamic team and contribute to the overall success and satisfaction of our workforce.