Rewards Manager Randstad India

About Randstad India

Job Description

The Manager Total Rewards is responsible for developing, implementing, and managing compensation, benefits, and recognition programs to attract, retain, and motivate employees. This role ensures internal equity, external competitiveness, and compliance with applicable laws and regulations. Collaborating with HR, Finance, and Leadership, the Manager designs data-driven strategies aligned with the organization's goals and employee value proposition. Key Responsibilities: Compensation Management: - Design and implement competitive compensation strategies, including salary structures, incentive plans, and equity programs. - Conduct benchmarking and market analysis using compensation surveys such as Aon, Mercer, and Willis Towers Watson. - Lead annual compensation planning cycles, including merit increases, bonus programs, and promotions. Benefits Administration: - Oversee employee benefits programs, including healthcare, wellness, insurance, and retirement. - Evaluate existing programs and recommend improvements or new initiatives to enhance employee well-being and cost-effectiveness. - Manage relationships with benefits vendors and brokers, including renewals, negotiations, and service levels. Rewards & Recognition: - Design and manage employee recognition and reward programs. - Align rewards programs with performance and engagement objectives. - Develop communication strategies to ensure understanding and participation. Analytics and Reporting: - Maintain dashboards and metrics to monitor the effectiveness of total rewards programs. - Provide insights through data to support decision-making and strategy refinement. - Ensure audit readiness and compliance with regulatory requirements. Stakeholder Collaboration: - Partner with Talent Acquisition and HR Business Partners to support offer structuring and hiring decisions. - Educate managers and employees on compensation and benefits policies and practices. - Contribute to HR strategy by aligning rewards practices with talent and business strategies.,