Compensation and Benefits Specialist

Innovatives Fund Management Ltd.; Bengaluru; On-site; INR 1,200,000 - 1,800,000; Full time

Job summary

Innovatives Fund Management Ltd. in Bengaluru seeks an experienced Compensation and Benefits Manager to design and optimize salary packages and incentive programs. You will ensure compliance with labor laws, analyze benchmarking data, and drive strategies to improve employee value and satisfaction.

Responsibilities include evaluating roles, conducting surveys, and updating reward offerings to attract and retain talent across departments and levels.

Qualifications

• Experience as a Compensation and Benefits Manager or similar role.
• Knowledge of building compensation packages for multiple departments and seniority levels.
• Excellent understanding of job evaluation systems and labor legislation.

Responsibilities

• Design compensation packages and bonus programs aligned with strategic goals.
• Ensure salaries and benefits comply with current pay equity laws.
• Identify trends and implement practices to engage and motivate employees.
• Conduct research on employee satisfaction via surveys and data.
• Renew compensation plans with monetary and non-monetary benefits.
• Track benchmarking data and report on effectiveness of programs.

Skills

Compensation management

Benefits programs

Job evaluation

Labor legislation

Salary benchmarking

Employee surveys

Rewards recognition

HR analytics

Education

HR or Organizational Psychology degree

Job description

Purpose of the Job:

Researching employee motives, implementing appealing rewards and tailoring benefit programs based on staff needs. To be successful in this role. you will build fair and attractive compensation and benefits plans that help us improve employee satisfaction.

Roles & Responsibilities:

• Design compensation packages and bonus programs that align with the company’s strategic plan.
• Ensure salaries and benefits comply with the current legislation about human rights and pay equity.
• Identify trends and implement new practices to engage and motivate employees
• Conduct research on employee satisfaction (e.g. using surveys and quantitative data)
• Renew our compensation plans with monetary and non-monetary benefits based on employee needs
• Keep track of prevailing pay rates and make sure we offer competitive compensation plans Draft job descriptions, job analyses and classifications
• Structure compensation in ways that will yield the highest value for the organization
• Evaluate and report on the effectiveness of employee benefit programs
• Track compensation and benefits benchmarking data.

Required Skills:

• Experience as a Compensation and Benefits Manager or similar role
• Knowledge of building compensation packages and bonus programs for various departments and seniority levels
• Excellent understanding of job evaluation and job analysis systems
• Good analytical skills
• Familiarity with labor legislation
• Experience with salary bench marking reports, employee satisfaction surveys
• Experience with rewards and recognition
• Graduation in Human Resources Management, Organizational Psychology, or relevant field.