Compensation And Benefits Specialist

Bajaj Electricals; Mumbai; On-site; INR 1,200,000 - 1,800,000; Full time

Job summary

Bajaj Electricals is seeking an experienced C&B professional to manage end-to-end employee benefits, wellness initiatives, and performance management processes. The role involves ensuring accurate payroll-related data, benefits administration, and policy compliance across India operations.

You will coordinate with finance, brokers, and HR partners to implement flexi-compensation, NPS, and insurance programs, while driving data-driven improvements in total rewards and recognition initiatives.

Qualifications

• MBA in HR from a reputed institute is preferred.
• Proven ability to analyse data and present insights effectively.
• Experience with compensation & benefits operations and HR systems.

Responsibilities

• Oversee end-to-end management of employee benefits, rewards and recognition.
• Coordinate flexi compensation models and payroll trackers with payroll/finance teams.
• Manage insurance, wellness programs, PMS, and benefit communications within the HRIS (e.g., DarwinBox).
• Liaise with brokers and insurers for policy administration and renewals.
• Generate reports and analytics to support compensation philosophy and policy updates.

Skills

Analytical skills

MS Excel

Communication skills

Presentation skills

Stakeholder management

Education

MBA in HR

Tools

Workday

PeopleSoft

SAP

DarwinBox

Job description

Role & responsibilities

Job Purpose & Scope

Part of the compensation and benefits function responsible for end-to-end management of employee benefits, rewards and recognition, flexi compensation models into system and maintaining payroll trackers.

Major Areas of Responsibilities & Authorities

Insurance:

• End to end Administration of GMC, GPA, GTL, EDLI, FSG & OPD policies of company via Brokers / Insurer and being a point of contact in BEL for employees
• Monthly addition, deletion and changes to be shared with broker ensuring all employees and their dependents are covered under company insurance policies.
• Maintaining insurance master list including documents for audit.
• On time policy renewal for corporate & plant policies
• Conducting Wellness sessions via external partners by coordinating with relevant stakeholders.
• Conducting regular audit to check if employees and the dependent are added and are part of respective policies.
• Participating in benefits survey and presenting results to Vertical Head Performance and Rewards.

Wellness:

• Manage end to end wellness calendar from designing annual calendar specifically for BEL along with Broker to implementing it on monthly basis.
• Conducting Medical camps across Corporate and Plant once a year.

PMS:

• End to end management of PMS from Goal Setting stage to Annual Appraisal and Letter release.
• Working on testing the forms in DarwinBox and launching Goal Setting, Mid-year and Annual forms as and when required.
• Working on Increment and Incentive calculations.

Flexi Benefits:

• Retirals management like NPS, Superannuation via flexi compensation system.
• Manage flexi allocation for all employees during annual exercise including compensation structure. Roll out flexi plans for new joiners and update DarwinBox / payroll records.
• Facilitate NPS process & ensure timely communication & enrollment
• Manage Car Lease administration & reconciliation
• Promote benefits program within company via mailers, cascade sessions.
• Experience in managing compensation through systems (DB) and an understanding of automation of compensation module, performance management and employee central will be an added advantage.
• Liaise with Finance and Payroll team for smooth administering of total rewards programs

Reward and Recognition:

• End to end management of Reward and Recognition program including logistics / certificates and vouchers (Spot award, quarterly, annual, long service award, Retires award and any special category award for respective year)
• Drive Rewards and Recognition program and other employee engagement initiatives
• Prepare the R&R Budgeting file

Reports, Policies & Analytics:

• Generate reports via DB and further analysis on performance management and C&B area.
• Manage the implementation of relevant HR policies and programs within the business and coordinate the relevant key strategic processes
• Guide new HR business partners on the compensation philosophy of the organization, salary structure and variable pay, allowances, and increments
• Identify opportunities for improvement and consult with the leaders to agree on solutions. Imbibe a culture of continuous service improvement.
• Update & upload polices on DarwinBox

HRBP for HR & Admin:

• Managing end to end task of Appointment Letter, Confirmation & Exit and any other task required as per the role.
• Employee Life Cycle

Leave & Attendance:

• Work with respective stakeholders to finalise & publish state wise Holiday calendar for India and China
• Check the monthly attendance data along with payroll team to ensure correct LOP is processed
• Update system with Leave & attendance as per mails and approvals received. Manage queries related to leave & attendance.
• Work on the annual Leave balance to carry forward the leave balance in system

Qualification:

Desired: MBA in Human Resources from Tier 2 / Tier 3 institute

Good knowledge of candidates selection methods & Employer Branding

Ability to assess behavioral competency as per job requirement

Experience:

6 to 9 years of experience in C&B area covering compensation and benefits operations including salary structure, flexi modules, administration of benefits program, communication of benefits, policy drafting, HR system testing, coordinating with Partners on system design, testing and implementation of C&B, Performance management and benefits program.

Other Requirements:

1. Must have an analytical mind with good interpersonal, communication and presentation skills
2. Proficiency in MS excel and strong hold in analysis of data
3. Excellent verbal and written communication skills
4. Ability to collaborate and work with stakeholders across levels and teams.
5. Experience into HR Systems like Workday / PeopleSoft / SAP / DarwinBox will be added advantage