Manager

LG Electronics; Bengaluru; On-site; INR 4,500,000 - 7,500,000; Full time

Job summary

LG Electronics in Bengaluru seeks a Compensation and Rewards Leader to design, implement, and manage compensation, benefits, recognition, and rewards programs aligned with business goals and regulatory requirements.

You will work with HR, Finance, Payroll, and external partners to drive pay strategy, market benchmarking, governance, and the employee value proposition, while enabling strong performance links and internal equity.

Job description

Job Description – Compensation and Rewards Leader

The Compensation and Rewards Leader is responsible for designing, implementing, and managing the organization’s compensation, benefits, recognition, and rewards programs to attract, retain, and motivate talent. This role ensures market competitiveness, internal equity, regulatory compliance, and alignment of reward strategies with business objectives.

The incumbent will work closely with business leaders, HR, Finance, Payroll, and external partners to drive compensation strategy, benefits optimization, pay governance, performance management, and employee value proposition initiatives.

Key Responsibilities

Compensation Strategy & Management

• Develop and implement the organization’s compensation philosophy and rewards strategy.
• Lead annual compensation review cycles, including merit increases, promotions, market corrections, and salary structure reviews.
• Design and manage job evaluation, job grading, and career architecture frameworks.
• Conduct salary benchmarking studies and market competitiveness assessments.
• Analyze compensation trends and recommend improvements to maintain external competitiveness and internal equity.
• Review and maintain salary ranges, compensation policies, and governance frameworks.
• Drive the Performance Management System (PMS) and support overall HR operations.

Variable Pay & Incentive Programs

• Design, implement, and administer short‑term incentive and variable pay programs.
• Manage annual bonus plans, retention bonuses, and special reward initiatives.
• Evaluate the effectiveness of incentive programs and recommend enhancements aligned with business goals.
• Ensure strong linkage between performance outcomes and reward programs.

Benefits Management

• Lead employee benefits strategy and administration, including:
  • Health Insurance
  • Life and Accident Insurance
  • Wellness Programs
  • Flexible Benefits
• Monitor benefit utilization and vendor performance.
• Conduct periodic benchmarking and cost‑benefit analyses.
• Partner with brokers, consultants, and providers to optimize benefits cost and employee experience.

Compliance & Governance

• Ensure compliance with labor laws, wage regulations, tax requirements, and statutory obligations.
• Develop and maintain compensation and benefits policies.
• Support internal and external audits related to rewards programs.
• Monitor regulatory developments and their impact on compensation and benefits practices.

HR Analytics & Insights

• Develop dashboards and reports covering:
  • Compensation Positioning
  • Attrition Analysis
  • Benefits Utilization
  • Pay Equity
• Generate actionable insights and recommendations for leadership teams.
• Prepare executive‑level compensation reports and board presentations.

Stakeholder Management

• Collaborate with HR Business Partners, Finance, Payroll, Talent Acquisition, and business leaders.
• Serve as an advisor on compensation and rewards matters.
• Present recommendations and business cases to senior leadership.
• Manage relationships with compensation consultants and benefits vendors.

Employee Experience & Communication

• Develop communication strategies to enhance employee understanding of compensation and rewards programs.
• Strengthen the employee value proposition through innovative reward and recognition initiatives.
• Drive employee recognition, engagement, and well‑being programs.

Team Leadership

• Lead, coach, and develop the Compensation and Rewards team.
• Establish team goals, performance metrics, and capability‑building plans.
• Drive process improvements, digitization, and automation initiatives across rewards operations.