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