Compensation Benefits Specialist

KEY RESPONSIBILITIES:

Headcount Controlling:

• Global Headcount Planning & Monitoring:
• Track and monitor global organizational headcount against approved budgets and manpower plans across regions and functions. Analyze headcount movements including hiring, transfers, promotions, and exits.
• Budgeting & Forecasting:
• Support annual global manpower budgeting and forecasting exercises in coordination with HR and Finance stakeholders. Monitor actual headcount and employee costs versus budgets and highlight variances.
• HR Data Management :
• Maintain accurate employee, headcount, and compensation data within HR systems and reporting dashboards.
• Salary Structures and Pay Ranges: Designing and maintaining fair and competitive pay structures with defined salary ranges for different positions. Salary recommendations and fitments on internal movements / transfers and promotions. Sharing Salary proposals to recruitment team for external candidates.
• Salary Administration: Responsible for administering salary increases, bonuses, Variable Pay and incentive programs based on established guidelines and performance reviews. Liaison with payroll team on inputs.
• Market Research and Benchmarking (Internal & External) : Staying informed about current compensation trends and conducting salary surveys to ensure the organization's pay offerings remain competitive within the market. Performing analysis on compensation benchmarking surveys carried out annually, bi-annual and as per requirement.
• Legal Compliance: Understanding and adhering to state wage laws impacting compensation practices. Keep an eye on statutory changes in acts and take proactive actions, Revisit and design salary structure on statutory compliance. Liaising with external audit team and ensuring compliance is 100%.
• Administrative Activities: Updating internal documents / letters and MyHR data. Managing employee database effectively.

HR ANALYTICS & REPORTING

• Internal Pay Equity Analysis: C&B experts design and implement various employee benefit programs to meet employee needs, considering factors like cost, compliance, and industry best practices
• Internal Pay Equity Analysis : Providing data point to assess how individual and overall compensation cost aligns with established targets while considering other factors like performance, experience, and market data for a comprehensive understanding of an employee's compensation.
• Budgets vs Actual : Keeping an eye on any variances while tracking budgets and actuals.
• C&B Dashboards: Develop dashboards and MIS reports providing visibility into headcount, workforce costs, and compensation trends for leadership and management review.
• Advanced Excel & PowerPoint:
• Utilize advanced Excel functionalities (Pivot Tables, VLOOKUP/XLOOKUP, formulas, data analysis, dashboards) and PowerPoint presentations to support analytics, reporting, and leadership reviews.

IDEAL PROFILE:

Experience : 1-4 Years

Business Acumen : Understanding of the organization's business goals and how C&B programs can support them.

Data Analysis and Reporting: Strong analytical skills to analyze compensation and benefits data to identify trends and develop insights.

Compliance : In-depth understanding of state, and local laws and regulations related to compensation and benefits.

Strategic Thinking : Ability to analyze data and identify opportunities to improve the effectiveness and cost-efficiency of C&B programs.

Technology Skills : Proficiency in HR information systems (HRIS) and other relevant software used for C&B administration.

Qualification: Bachelor’s or Masters degree in Business Administration, Project Management, or related field.