Designation : Staff Compensation & Benefits Analyst Mandatory Experience: - Benefit strategy - Designing the benefits for India - Benefit structure - Review of the benefits. - Only from MNC's having India benefit experience in designing & strategy. Position Summary: The position will be responsible for developing, implementing, and administering the company's compensation and benefits policies and programs. This role requires a deep understanding of India's statutory requirements, market trends, and best practices to ensure competitive, cost-effective, and compliant benefits offerings. The position will analyze employee demographics, assess risk exposure, and recommend strategic enhancements to optimize the employee experience. Additionally, the incumbent will play a key role in supporting the regional Compensation & Benefits (C&B) Center of Excellence (COE) by providing insights, ensuring alignment with global policies, and driving local execution. Benefits Strategy & Administration: - Design, implement, and manage employee benefits programs, including but not limited to healthcare, insurance, retirement plans, wellness initiatives, and leave policies. - Ensure alignment of benefits programs with global and regional total rewards philosophy while balancing affordability and competitiveness. - Administer and communicate benefits policies, features, and enrollment requirements, ensuring employees have a clear understanding of available offerings. - Analyze employee demographics, risk exposure, and cost containment strategies to recommend enhancements to benefits programs. - Ensure compliance with all Indian labor laws (e.g., Provident Fund, Gratuity, ESIC) and adapt programs based on regulatory changes. Compensation & Market Intelligence: - Gather local market intelligence and analyze salary and benefits trends to support recommendations. - Participate in compensation and benefits surveys to benchmark the company's competitive position in the market. - Support the annual salary review process, ensuring salary adjustments conform to established guidelines. - Provide insights and recommendations on pay-for-performance strategies, salary structures, and benefits optimization. Employee Communication & Engagement: - Develop and manage employee FAQs, communication materials, and training sessions to improve benefits understanding and utilization. - Communicate complex compensation and benefits information in a clear and accessible manner to employees and senior management. - Address employee inquiries related to benefits and ensure a positive employee experience. Vendor & Stakeholder Management: - Serve as the primary liaison with insurance providers, brokers, and third-party vendors, ensuring efficient claims processing and service quality. - Partner with HR, Finance, and Legal teams to ensure alignment between benefits programs and overall business objectives. - Enhance internal and external relationships, networking with industry peers and experts to stay updated on trends. Process Improvement & Regional Collaboration: - Support annual compensation and benefits events, including the annual insurance benefits renewal. - Plan and implement changes to compensation and benefits programs, ensuring smooth transitions and alignment with organizational goals. - Drive automation and process improvements in benefits administration. - Provide internal training and mentoring to Human Resource colleagues, business leaders, people managers and employees to promote understanding and appropriate utilization of C&B programs - Contribute to the regional Compensation & Benefits COE, supporting APAC countries as needed. Qualifications & Experience: - Degree in Accountancy, Finance, Human Resources or related field - Minimum of 8 years of specialized C&B experience, preferably in the area of Benefits in an MNC. - Strong knowledge of Indian compensation and benefits regulations, labor laws, and tax compliance. - Strong stakeholder management and influencing skills, with the ability to communicate complex matters to different audiences effectively. - High level of integrity, attention to detail, and ability to manage sensitive information - Excellent analytical, problem-solving, and project management skills. - Results-driven team player, who can function effectively and independently in a fast-paced dynamic environment - Experience working with HRIS and compensation & benefits tools (e.g., Workday, Mercer, Radford). - Proficient with Microsoft Office Suite

Bangalore

Staff - Compensation & Benefits - Life Science 

Job Description for Staff - Compensation & Benefits - Life Science  in HeadPro Consulting LLP in  Bangalore for (10-16) years of experience. Apply Now!