Specialist - Compensation & Benefits - Constructions/Manufacturing/Steel Industry

Compensation & Benefits Specialist

Position Name: Compensation & Benefits Specialist

Location: Worli, Mumbai

Exp: Min 2-4 Years

Job Overview:

As a Compensation and Benefits Specialist, the incumbent will play a crucial role in designing, implementing, and managing our compensation and benefits programs and will collaborate with cross-functional teams to ensure competitive and attractive total rewards packages that align with our organizational objectives. This position requires a keen understanding of market trends, compliance, and a strategic approach to optimizing our compensation and benefits offerings.

Key Responsibilities:

Compensation Analysis:

- Conduct regular market research to assess the competitiveness of our compensation structures.

- Analyze internal and external salary data to ensure equitable pay practices.

- Develop and maintain salary structures that align with industry standards and company goals.

Benefits Administration:

- Manage employee benefits programs, including health insurance, retirement plans, and other perks.

- Stay informed about industry trends and legislative changes to ensure compliance.

- Collaborate with vendors to evaluate and enhance benefit offerings.

Job Evaluation and Grading:

- Conduct job evaluations to ensure accurate position classification and leveling.

- Develop and maintain a job grading system to support consistent and fair compensation practices.

Policy Development:

- Work with HR leadership to develop and update compensation and benefits policies.

- Ensure policies align with legal requirements and industry best practices.

Communication and Education:

- Communicate changes in compensation and benefits programs to employees.

- Provide education and guidance to employees on total rewards offerings.

Qualifications & Required Skills:

- Bachelor's/PG degree in Human Resources, Business Administration, or related field.

- 2-4 years of experience in compensation and benefits administration.

- In-depth knowledge of relevant employment laws and regulations.

- Strong analytical and problem-solving skills.

- Excellent communication and interpersonal skills.