Manager - Compensation & Benefits - FMCG/Telecom/IT/Hospitality

We are hiring for the role of Manager - Compensation and Benefits with a Top MNC.

Location: Mumbai [Lower Parel]

Job Responsibilities:

- Responsible on a global level for a compensation process that will involve compensation strategy, research, and benchmarking internationally. Set policy and create the framework for the compensation structure.

- Support the implementation of compensation programs that are competitive, legally compliant, and fairly applied, and that support the business in recruiting, retaining, and motivating all levels of employees in the different employment markets.

- Design comp structures in line with local practices, handling compensation surveys and benchmarking on a global scale.

- Evaluating C&B processes and policies to ensure they are current, competitive, and in compliance with local legal and tax rules and regulations.

- Conducting reviews of current base salary levels and proposing salary changes based on job analysis, internal salary data, and external market data

- Develops and recommends proposals for the annual pay review a program that takes account of complex factors (e.g. position versus market, legal requirements, internal feedback, business strategies, cost-to-revenue ratio, budgets available, etc.)

- Ensures that effective processes, automation, and controls are in place to support new and existing programs. Manages programs to ensure required service levels and compliance with established parameters.

- Evaluate competitor compensation and benefits packages, create policies and procedures; monitor the payroll interface to ensure compliance and data integrity.

- Support the development of the reward aspects of proposed programs ensuring they are correctly costed, are legal and documented, etc.

- Support the manpower budgeting and forecasting process across the organization. Analyze/monitor variation in staff cost vis-a-vis budgets.

- International Mobility (Expat Transfers salary proposals)

- Judicious use of natural resources

- Shall adhere to the environmental health and safety policy/objectives and guidelines of the organization.

- Coordinating retirement, pension, profit-sharing, and stock ownership plans

- Researching and analyzing healthcare plans, including medical, dental, vision, and disability insurance

- Evaluate Benefit processes and policies to ensure they are current, competitive, and in compliance with legal and local rules and regulations.

- Designing a comprehensive benefits package to meet the needs of a changing workforce

- Evaluating the costs and benefits of wellness programs, life and long-term care insurance, and employee assistance programs

- Planning employee communication to spread awareness on Benefits

- Support in designing benefit structures in line with local practices, handling compensation surveys, and benchmarking on a global scale.

- Manage service agreements with established providers/consulting companies (pension actuaries, insurance companies, healthcare providers, etc.) and ensures costs are correctly reviewed and controlled in line with the contractual terms.

- Resolve issues related to benefits and independently make appropriate recommendations to the Compensation lead, wherever required.

- Share statistics on a regular basis with stakeholders on the process adherence compliance, the status of appraisal completion, etc.

- Vendor identification and negotiations

- Reviewing vendor invoices, resolving disputes, and reporting on fees and costs

- Maintain benefit-related information in the database according to established procedures.

- Maintain regular updates and MIS on all the Performance Management System (PMS) programs and contests.

- Monitor benefits to ensure that they are cost-effective and support employee needs

- Act as a single point of contact for queries/questions regarding benefit eligibility, amounts of coverage, and claims procedures

- Assist the lead in creating the policy and framework for the compensation structure and benefits