Staff Compensation & Benefits Analyst(Hea Job/ 75)

 

 

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.

 

Scope of Responsibilities:

 

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

 

· Bachelor's 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