Compensation and Benefits Manager

Job description

Responsibilities:

Compensation & Benefits

• Administer compensation structures and incentive plans to support performance orientation.
• Develop, implement, and execute various compensation and benefits initiatives.
• Conduct regular market benchmarking to ensure competitive positioning of compensation structures.
• Performance Appraisal and Development (PAD)
• Support the implementation and execution of the Performance Appraisal and Development (PAD) process in line with group guidelines.
• Ensure accurate reporting structures in Oracle HRIS for seamless PAD processes.
• Provide training to managers and employees on the PAD process and tools.
• Reward & Recognition (Total Rewards)
• Manage existing Reward & Recognition programs.
• Assist in developing new online recognition tools to enhance employee experience.
• Ensure timely communication and execution of rewards initiatives.
• HRIS Management (Oracle)
• Manage and maintain the Oracle HRIS system, ensuring data accuracy and regular updates.
• Provide training and user support to enhance system adoption.
• Payroll Management
• Oversee payroll operations for permanent employees, ensuring accuracy and adherence to statutory compliance.
• Administer employee benefits, including insurance schemes and other welfare programs.
• Regularly review and update payroll policies to remain compliant with labor laws and regulations.
• Employee Benefits
• Manage employee benefits programs, including medical insurance, gratuity, and retirement plans.
• Address employee queries and provide clarity on benefit policies.
• Attendance & Leave Management
• Ensure accurate monthly attendance records for payroll processing.
• Manage annual leave reconciliation, validations, and verifications.
• Generate regular leave statistics and reports.
• Exit Management
• Oversee the exit process to ensure a seamless transition for departing employees.
• Manage full and final settlements in a timely and accurate manner.
• Provide guidance and support to site HR teams during the exit process.
• MIS Reporting and Metrics
• Prepare and release periodic HR dashboards with key metrics for management review.
• Maintain an updated employee database and generate custom reports as needed.
• HR Budgeting
• Assist in preparing the annual HR budget, incorporating inputs from all stakeholders.
• Monitor budget utilization and ensure adherence to financial guidelines.
• Compliance & Labor Laws
• Ensure compliance with labor laws, including the Minimum Wages Act, Payment of Wages Act, Bonus Act, Gratuity Act, and Shops & Establishments Act.
• Stay updated with regulatory changes and implement necessary adjustments to HR policies and practices.

Requirements:

Essential:

• MBA in Human Resources or equivalent qualification.
• 8-12 years of experience in Compensation & Benefits, HRIS (preferably Oracle), Payroll Management.
• Strong HR operational experience, with attention to detail and process orientation.
• Proficiency in managing payroll and compliance with labor laws.

Preferred:

• Advanced skills in Microsoft Excel for analytics and reporting.
• Exposure to total rewards management and HR metrics.