Role - Compensation & Benefits (C&B) Analyst :

Location: Mumbai

Industry Preference: Any Manufacturing

Experience Required: 10-15 years

Education: MBA/PGDM in HR or equivalent from a reputed institute

Role Overview:

The candidate will be responsible for designing, implementing, and managing compensation strategies that align with the company's objectives and employee value proposition. The ideal candidate will be a Subject Matter Expert (SME) in C&B, with deep knowledge of benchmarking, job evaluation, salary structuring, Incentive design, benefits administration, regulatory compliance etc. The role will support talent retention and attraction strategies by ensuring a competitive and equitable pay structure across levels.

Key Responsibilities:

1. Compensation Strategy & Structure:

- Design and implement compensation policies and structures in alignment with business strategy.

- Manage the development of salary bands, pay grades, and job levelling frameworks.

- Conduct periodic internal pay equity analyses and external market benchmarking.

- Lead the annual salary review cycle.

- Lead market compensation benchmarking studies using external surveys (e.g., Aon, Mercer, Willis Towers Watson).

2. Benefits Management:

Role - Compensation & Benefits (C&B) Analyst :

- Oversee administration and communication of employee benefits such as equity, retention, retirals etc.

- Evaluate existing benefits programs and recommend enhancements based on employee needs and industry standards.

3. Incentive & Variable Pay Programs:

- Design and administer Short-Term and Long-Term Incentive Plans.

- Collaborate with Business Heads and Finance to align incentive structures with business KPIs and individual performance metrics.

- Conduct simulations and payout forecasting for budgeting purposes.

4. Compliance & Governance:

- Ensure compliance with compensation-related statutory regulations like Minimum Wages, Bonus Act, Equal Remuneration Act, Provident Fund, Gratuity, etc.

- Lead audits and data reporting to internal and external stakeholders.

- Manage regulatory filings and liaise with legal consultants as needed.

5. HR Analytics & Reporting:

- Develop C&B dashboards and analytics on compensation metrics, pay equity, cost modelling, trends, cost-to-company (CTC), pay mix, compa-ratios, attrition impact on payroll, etc.

- Provide insights and recommendations to HR leadership and business units.

- Maintain high standards of data integrity and confidentiality.

6. Stakeholder Management:

- Partner with CHRO, Business HR Heads, HR Business Partners, Finance, and Business Leaders etc to support organizational growth and people strategy.

- Liaise with auditors and consultants for internal audits, compliance, and external benchmarking.

- Present C&B insights to senior leadership, provide consultative support on C&B matters

Key Competencies & Skills:

- Detailed expertise in Compensation Benchmarking, Job Evaluation.

- Strong analytical and Excel modelling skills.

- Strategic thinking with a business and employee-focused mindset.

- Proven experience in managing compensation reviews, budget planning, variable pay administration etc.

- Excellent communication, presentation, and stakeholder engagement skills

- Updated with latest C&B trends and market insights in the manufacturing sector.

Preferred Candidate Profile:

- MBA/PGDM in HR from a reputed institute (preferred.

- Proven experience (10-15 years) in C&B roles, preferably within large manufacturing setups.

- Demonstrated track record as a Subject Matter Expert (SME) in Compensation & Benefits.

- Experience in managing pan-India or global C&B portfolios is a strong advantage.

- Familiarity with job evaluation methodologies (Hay, Mercer), labor laws, and industry benchmarks.