Assistant Manager - Compensation & Benefits - Manufacturing Firm

Position: Asst. Manager-Compensation & Benefits (Leading MNC Manufacturing Company)

Role:

- Compensation Strategy: Develop and enhance a comprehensive compensation strategy that aligns with company culture, objectives, and industry standards.

- Performance Evaluation: Collaborate on the design and implementation of an effective annual performance evaluation program

- Market Research: Conduct regular salary surveys to ensure our compensation packages remain competitive

- Benefits Management: Oversee employee benefits administration and introduce new offerings to attract & retain talent while ensuring compliance with regulations

- Compliance: Stay informed about labor laws and regulations related to compensation to maintain compliance

- Job Evaluation: Create and analyze job descriptions, evaluations, and classifications.

- Data Analysis: Analyze compensation data and trends to inform decisions about salary adjustments and reward structures

- HRIS & Reporting: Manage the HRIS system and prepare monthly headcount reports

- Digital HR: Act as the point of contact for all digital HR projects

- Communication: Developing trust through open dialogue to find the right mix of incentives to drive performance and retain employees.

- Budget Management: Manage the compensation and benefits budget, collaborating with finance for resource allocation.

- Payroll Management: Oversee payroll and statutory compliance, liaising with legal and regulatory bodies.

- Insurance Management: Lead the employee insurance program and communicate processes related to employee insurance.

- Collaboration: Work with cross-functional teams to align compensation practices with broader HR strategies.

- Policy Development: Work collaboratively with cross-functional teams, such as People Success Business Partnering, Finance, Talent Acquisition and business teams, to align compensation practices with broader HR strategies.

- Data-Driven Decisions: Use various methods to make informed decisions about financial and non-financial compensation.

- Employee Engagement: Conduct surveys to assess employee needs and motivations.

- Pay Differentiation: Differentiate pay systems to invest in high-value workforce segments.

- Audits and Reporting: Conduct periodic audits and prepare relevant reports.

Requirements:

- B.Sc. (Mathematics/Statistics)/ BE and Masters degree in HR

- 5+ years of relevent expereince in Compensation & Benefits or similar role

- Strong knowledge of compensation and benefits practices, including market trends and regulatory requirements.

- Experience with salary survey participation and data analysis to drive compensation decisions.

- Strong understanding of performance management processes and their relationship with compensation and incentives.

- Strategic mindset with the ability to align compensation practices with overall business goals.

- Working knowledge of job evaluation and job analysis systems

- Good Analytical Skills and Finance knowledge

- Strong attention to detail and organizational skills

- Excellent communication and interpersonal skills

- Experience in Performance Appraisal and Management (Preferred)

- Strong quantitative skills

Location: Mumbai

This position is for a Client of Vertex Corporate Services which is a Leading MNC Manufacturing Company