Compensation & Benefits Lead
Department: Human Resources
Location: Hyderabad
Experience: 10 - 12 years
Reports to: Head of HR
Role Overview:
We are seeking an experienced Compensation & Benefits Lead to design and manage comprehensive total rewards strategies, performance management systems, and HR digitization initiatives. This role also requires mandatory hands-on expertise in payroll operations, PMS implementation, and HRMS digitization.
Key Responsibilities:
Total Rewards & Compensation Strategy:
- Design competitive compensation structures: base pay, variable pay, incentives, bonuses.
- Conduct market benchmarking and salary surveys; develop job evaluation frameworks and salary bands.
- Lead annual compensation cycles: salary revisions, increments, promotions, bonus payouts.
- Develop and implement total rewards philosophy balancing cash, equity, and benefits.
- Provide compensation guidance for offers, lateral hires, and retention cases.
Benefits & Perquisites Administration:
- Manage employee benefits: health insurance, life insurance, gratuity, superannuation, wellness programs.
- Negotiate with insurance providers and benefits vendors; optimize cost-effectiveness.
- Implement innovative benefits: flexible benefits, parental support, financial planning, employee assistance programs.
- Ensure statutory benefits compliance: PF, ESI, gratuity, bonus, etc.
Payroll Operations & Compliance:
- Oversee end-to-end payroll processing ensuring 100% accuracy and timeliness.
- Strong statutory and legal knowledge, including compliance with the Factories Act and other applicable labour and industrial laws.
- Manage statutory compliance: PF, ESI, PT, LWF, TDS, gratuity; file monthly/quarterly/annual returns.
- Handle payroll for all employee categories: full-time, contract, consultants, interns.
- Process F&F settlements, leave encashment, and exit formalities.
- Coordinate statutory audits and ensure labor law compliance.
- Reconcile payroll with finance systems.
Performance Management System - PMS:
- Drive appraisal cycles: goal setting, reviews, calibration, rating moderation.
- Link performance to compensation: merit increases, bonuses, promotions.
- Conduct performance analytics, train managers on feedback and PIPs.
- Implement performance tracking tools and dashboards.
Incentive & Variable Pay Design:
- Design short-term incentive plans (STI): quarterly/annual bonuses, performance-linked pay.
- Develop incentive structures: commissions, accelerators, achievement-based payouts.
- Create team-based and individual incentive schemes aligned with business goals.
- Monitor incentive payout accuracy and impact on performance outcomes.
- Benchmark incentive practices and recommend improvements.
HR Digitization & Technology (Mandatory):
- Lead HRMS implementation and optimization (Keka, Darwinbox, Greytip, or similar)
- Automate HR processes: payroll, attendance, leave, reimbursements, benefits enrolment.
- Implement employee self-service portals and manager dashboards.
- Integrate compensation, benefits, and PMS modules for seamless data flow.
- Generate HR analytics, MIS reports, and dashboards for data-driven decisions
- Ensure data security, confidentiality, and compliance.
- Evaluate and implement new HR tech: compensation planning tools, survey platforms.
Policy, Compliance & Reporting:
- Develop compensation, benefits, and payroll policies aligned with labor laws.
- Ensure compliance with Minimum Wages Act, Payment of Bonus Act, Equal Pay Act.
- Partner with Finance on compensation budgeting and forecasting.
- Present compensation proposals and analytics to leadership.
Required Qualifications:
- MBA (HR/Finance) or PG Diploma; Bachelor's in Commerce/Finance
- 10-12 years in Compensation & Benefits with MANDATORY hands-on experience in:
- Payroll operations and statutory compliance (PF, ESI, PT, TDS)
- Performance Management System (PMS) design and implementation.
- HR digitization and HRMS implementation/optimization.
- Incentive and variable pay design.
- Deep expertise in Indian payroll, labour laws, and compliance.
- Advanced Excel skills; compensation modelling and analytics.
- Experience with salary benchmarking, market surveys, total rewards design.
About Skyroot Aerospace:
Skyroot Aerospace is India's first private space launch company, building a family of launch vehicles to make space access affordable and reliable. We made history in 2022 with Vikram-S, India's first privately developed rocket launch. Backed by marquee investors and with a clear path to commercial operations, we're scaling rapidly to meet ambitious launch schedules and growth targets.
