Head - Compensation & Benefits - Manufacturing

Head - Compensation & Benefits

Role & responsibilities:

1. Compensation Strategy & Execution Develop and implement competitive compensation structures (fixed & variable pay, incentives, retention plans) in alignment with market trends and business strategy. Lead annual salary reviews, benchmarking exercises, and pay equity studies to ensure competitiveness. Drive the execution of the rewards cyclemerit increases, promotions, and bonus payouts across all levels. Oversee the Executive Compensation strategy, including Long-Term Incentive Plans (LTIPs) and stock options (if applicable). Partner with finance and business leadership to design sales incentive and performance-linked pay structures that drive productivity.

2. Benefits & Well-being Programs Design and manage employee benefits programs (healthcare, insurance, retirement, wellness) ensuring cost-effectiveness and compliance. Evaluate trends in employee well-being (mental health, work-life balance) and recommend innovative programs. Manage vendor relationships for benefits administration, renewal negotiations, and service-level agreements.

3. Recognition & Engagement Develop and implement a total rewards philosophy that integrates recognition, performance-based rewards, and career progression. Oversee employee recognition programs (monetary & non-monetary) to drive engagement and retention. Partner with HRBPs and business leaders to align rewards programs with employee value proposition (EVP).

4. Governance, Compliance & Policies Ensure compliance with Indian labor laws, tax regulations, and global compensation governance (e.g., minimum wages, equal pay, gratuity, EPF, ESIC). Stay updated on statutory and regulatory changes impacting compensation and benefits. Lead internal audits and external benchmarking studies, ensuring transparency in pay policies.

5. Data Analytics & Market Insights Drive compensation analytics to measure pay competitiveness, internal equity, and program effectiveness. Use HR analytics to assess cost-effectiveness of rewards programs and recommend improvements. 1 Participate in industry compensation surveys (Aon, Mercer, Willis Towers Watson) and analyze trends to refine strategies. 6. Stakeholder Collaboration & Leadership Work closely with business leaders, HRBPs, and finance teams to develop rewards solutions aligned with business goals. Present data-driven insights and recommendations to senior leadership on total rewards trends and budget implications. Influence culture and talent strategy through holistic total rewards frameworks.

Qualifications & Experience:

- Education: MBA in HR / Finance / Business or relevant post-graduate degree.

- Experience: 12+ years in compensation & benefits, total rewards, or HR strategy, with at least 5 years in a leadership role.

Industry Preference:

- Manufacturing, Engineering, or Industrial sectors with global exposure.

- Strong knowledge of Indian labor laws, tax structures, and global total rewards frameworks.

- Expertise in HR analytics, compensation surveys, job evaluations, and benchmarking methodologies. Experience in managing C&B budgets, benefits design, and vendor negotiations.

Key Competencies:

- Strategic Thinking & Business Acumen: Ability to align rewards with organizational goals.

- Analytical & Financial Acumen: Strong data interpretation, budgeting, and forecasting skills.

- Stakeholder Management & Influence : Experience in working with CXOs, business leaders, and external consultants.

- Regulatory & Compliance Awareness :Deep knowledge of labor laws, taxation, and compensation regulations.

- Technology & HR Systems Proficiency : Experience with HRIS, compensation modeling tools, and analytics