Job Description
The Compensation & Benefits Specialist will be responsible for designing, implementing, and governing competitive compensation and benefits programs that align with business objectives, market trends, and organizational growth priorities. The role will partner closely with HR Leadership, Business Leaders, and external compensation consulting firms to strengthen the company's Total Rewards ecosystem.
The incumbent will play a critical role in compensation benchmarking, incentive design, executive compensation, benefits administration, annual reward cycles, and regulatory compliance while ensuring market competitiveness and internal equity.
Key Responsibilities
Compensation Strategy & Benchmarking
Lead compensation benchmarking exercises to ensure external market competitiveness and internal pay equity.
Partner with leading compensation consulting firms such as Mercer, Aon Hewitt, Willis Towers Watson, and Korn Ferry for salary surveys and market intelligence.
Conduct job evaluation, job matching, and grading exercises across functions and levels.
Develop compensation structures aligned with organizational growth and talent retention objectives.
Drive periodic compensation reviews and recommend market corrections where necessary.
Incentive & Variable Pay Programs
Design, implement, and govern annual and quarterly incentive plans across business functions.
Develop sales incentive programs aligned with revenue, profitability, and business growth objectives.
Drive variable pay frameworks for leadership and critical talent segments.
Evaluate the effectiveness of incentive plans and recommend improvements to enhance performance outcomes.
Executive & Leadership Compensation
Support the design and administration of executive compensation programs.
Develop reward frameworks for senior leadership and succession-critical roles.
Conduct executive compensation benchmarking and pay positioning analysis.
Partner with senior leadership on compensation decisions for strategic talent.
Annual Compensation Review Cycle
Manage end-to-end annual compensation planning processes including merit increases, salary revisions, promotion increments, variable pay payouts, and compensation budgeting.
Provide analytical insights and recommendations to business leaders during compensation review discussions.
Benefits Design & Administration
Design and administer employee benefits programs including group medical insurance, life insurance, accident insurance, wellness programs, and retirement benefits.
Manage relationships with insurers, brokers, and benefit vendors.
Drive optimization of benefits programs to enhance employee value proposition while ensuring cost efficiency.
Global Rewards & Mobility
Support international mobility and expatriate compensation frameworks where applicable.
Design mobility-related reward structures, allowances, and relocation benefits.
Ensure consistency of reward practices across different geographies and employee groups.
Long-Term Incentives & Wealth Creation Programs
Support the design and administration of long-term incentive plans, retention programs, and employee wealth creation initiatives.
Manage governance and communication related to equity-based reward programs where applicable.
Rewards Analytics & Reporting
Develop dashboards and analytical models to evaluate compensation effectiveness.
Generate insights on compensation competitiveness, reward spend, attrition trends, and retention risks.
Leverage data-driven decision-making to strengthen reward strategies.
Compliance & Governance
Ensure compliance with all applicable compensation and benefits regulations.
Support implementation and governance of provisions related to labour codes, wage regulations, social security requirements, and statutory benefits.
Maintain robust compensation governance and audit readiness.
Desired Candidate Profile
Education
MBA / PGDM in Human Resources from a reputed institute.
Additional certification in Compensation & Benefits, Total Rewards, Mercer IPE, Hay Methodology, or HR Analytics will be preferred.
Experience
8-15 years of experience in Compensation & Benefits, Total Rewards, HR Consulting, or Rewards COE roles.
Experience working with large manufacturing, industrial, engineering, FMCG, electrical, consumer durable, or multinational organizations.
Strong exposure to compensation benchmarking, job evaluation, executive compensation, incentive design, and benefits management.
Recruiter Contact Details Locked
To view company contact information, email, phone number, and apply to this job directly, please register or login first.
Success Stories from Candidates Placed in this Field
Sakshi Dhage Raju - Mumbai
Aer Media, Mumbai
★★★★★
"Yes feedback is that the job posting were really good like i wanted in hr ops and got selected in like no time also there members to help you guys have actually helped in finding jobs three times and definitely want to work with you guys in future
Thank you so much guys"
Seema Tonashyal - Bangalore
CRMIT Solutions, Bangalore
★★★★★
"Yes, I got placed through your services for the second time, and I am truly grateful. Company name is CRMIT, Bangalore. Finding a job through regular platforms isn't easy, especially with so many applicants competing for a single opening. Pallavi and her team are doing a commendable job-kudos and thanks to them! I even share your contact details with anyone in need, because a small action can make a big difference in someone's life."
Want to crack a role like this? Let our placement experts help you.
Chat on WhatsApp