Manager - Compensation & Benefits - Automotive Component Manufacturing Firm

Description:

Role Compensation and Benefits

Department Human Resource

Location Pune

Education Requirement MBA / PGDM in Human Resources or related specialization

Industry knowledge Automotive/Manufacturing

Job Purpose:

To lead and manage the Compensation & Benefits (C&B) function across the organization by ensuring effective payroll management, tax compliance, data analysis, and compensation structuring aligned with business goals. The role involves conducting comparative studies, managing performance-linked merit increases, and providing analytical insights and recommendations to management for fair, competitive, and cost-effective compensation practices.

1. Compensation Strategy & Management:

- Develop and implement compensation policies and structures aligned with organizational objectives and industry benchmarks.

- Conduct comparative studies and salary benchmarking within the automotive manufacturing industry to maintain competitiveness.

- Analyse compare ratios and recommend adjustments to ensure internal equity and pay consistency.

- Provide strategic suggestions to management regarding merit increases, salary revisions, and pay restructuring.

2. Payroll & Taxation:

- Oversee end-to-end payroll management for all locations, ensuring accuracy, timeliness, and compliance with statutory requirements.

- Implement and monitor taxation schemes in line with government norms and organizational policies.

- Coordinate with Finance and external consultants for audits, tax filings, and reconciliation of payroll data.

3. Performance Management & Merit Increase:

- Collaborate with HRBPs and functional heads during the Performance Management System (PMS) cycle to link performance ratings with compensation outcomes.

- Design and execute merit increase plans based on PMS ratings, market competitiveness, and budgetary guidelines.

- Present detailed reports on performance-linked pay and merit distribution to management for review and approval.

4. Data Analysis & Reporting:

- Generate and maintain management reports related to manpower cost, compensation trends, and budget utilization.

- Conduct detailed data analysis for cost projections, variance analysis, and workforce cost optimization.

- Prepare cost centerwise reports and dashboards to support decision-making.

- Utilize Advanced Excel for complex data modeling, simulations, and analytics.

5. Budgeting & Forecasting:

- Lead the annual manpower cost budgeting process and ensure alignment with financial goals.

- Track payroll cost and compensation impact against budgets and highlight deviations with insights.

6. Compliance & Governance:

- Ensure all compensation, payroll, and taxation processes comply with statutory laws, company policies, and audit requirements.

- Maintain confidentiality and accuracy of all employee compensation data and records.

7. Continuous Improvement:

- Identify process improvement areas in payroll, compensation, and reporting systems.

- Implement automation tools and data validation checks to enhance accuracy and efficiency.

Key Skills & Competencies:

- Strong knowledge of compensation management, payroll processing, and taxation in the manufacturing industry

- Expertise in compare ratio analysis, salary benchmarking, and merit increase methodology

- Proficiency in Advanced Excel (pivot tables, formulas, Power Query, macros) and HRIS tools

- Excellent analytical, numerical, and data interpretation skills

- Strong business acumen with ability to provide actionable insights to management

- High attention to detail, accuracy, and confidentiality

Desired Profile:

- Masters Degree in Human Resources / MBA (HR) or equivalent.

- 15+ years of experience in HR, preferably in automotive component manufacturing or engineering sector.

- Proven experience partnering with senior leadership teams.

- Strong business understanding and ability to translate business requirements into HR deliverables.

- Excellent communication, influencing, and interpersonal skills.

- Hands-on exposure to both strategic and operational HR functions.

Key Competencies:

- Strategic Thinking and Business Acumen

- Leadership Collaboration

- Change Management

- Stakeholder Management

- Decision-Making and Problem Solving

- Strong Analytical and Execution Capabilities