Compensation Benefits Specialist Job in Tata
- Tata Consulting
- 5 to 9 Yrs
- Other Maharashtra
- 12 months ago
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Job Description
- The Compensation and Benefits specialist is responsible for developing, implementing, and managing the company's compensation and benefits programs. This role ensures competitive salary structures, benefits packages, and incentive programs to attract, motivate, and retain top talent while maintaining alignment with the organizations overall strategic goals. Key Responsibilities: Compensation Strategy & Design: Design, evaluate, and modify compensation structures to maintain competitiveness and alignment with business objectives. Conduct regular salary benchmarking and market analysis to ensure internal equity and market competitiveness. Oversee the development of incentive programs (e.g., Performance bonuses, commissions, Sales Incentive) to drive performance. Ensure that compensation programs comply with regulatory requirements and align with company culture. Anticipate opportunities and risks related to any changes in compensation changes and effectively communicate to senior leadership. Assist Sales leadership to provide support related to but not limited to sales reporting, compensation and quota setting. Benefits Administration Manage the organizations benefits programs, including health insurance, wellness initiatives, and other employee perks. Negotiate with vendors and manage relationships with external benefits providers to ensure cost-effective and comprehensive benefit solutions. Evaluate the effectiveness of benefit programs and ensure they meet employee needs and organizational objectives. Total Rewards: Develop and communicate a Total Rewards strategy that aligns with organizational goals. Lead efforts to ensure understanding and appreciation of compensation and benefits offerings through employee communications and training. Ensure total rewards packages are fair, equitable, and positioned to attract and retain top talent. Compliance & Audits: Ensure all compensation and benefits programs are in compliance with federal, state, and local regulations. Manage audits related to compensation and benefits, ensuring compliance and proper documentation. HRIS & Reporting: Utilize HRIS and other systems for data analysis and reporting on compensation, benefits utilization, and cost-effectiveness. Create reports and presentations for senior leadership regarding compensation trends, cost analysis, and program effectiveness. HR Policies: Research, draft, and update HR policies to ensure they meet organizational goals and legal requirements. Ensure that all HR policies comply with applicable labor laws, industry regulations, and best practices. Oversee the rollout and communication of new policies and policy updates to all employees and managers. Serve as the primary contact for employees and managers seeking clarification on HR policies and procedures. Key Requirements: Education: Bachelor's degree in human resources, Business Administration, Finance, or related field. Master's degree in a relevant field or professional certifications (e.g., CCP, CEBS) preferred. Experience: 5+ years of experience in compensation, benefits, or total rewards roles. Experience in managing complex compensation structures and benefits packages. Skills: Strong analytical and problem-solving skills, with the ability to interpret and present data. Excellent interpersonal and communication skills. Ability to manage multiple projects simultaneously and meet deadlines. In-depth knowledge of compensation and benefits regulations. Proficiency in Microsoft Excel, HR software, and data analytics tools.,
Employement Category:
Employement Type: Full timeIndustry: OthersRole Category: Not SpecifiedFunctional Area: Not SpecifiedRole/Responsibilies: Compensation Benefits Specialist Job in TataContact Details:
Company: Tata TechnologiesLocation(s): Other Maharashtra+ View Contact
Keyskills: Analytical Skills Interpersonal Skills Communication Skills
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