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Specialist - Compensation & Benefits

Innovaccer

Innovaccer

Accounting & Finance
Noida, Uttar Pradesh, India
Posted on Tuesday, February 6, 2024

Your Role

As the Specialist - Compensation & Benefits, you are responsible for designing, overseeing, and implementing a firm's compensation and benefits programs. Their primary role is to ensure that the company's pay scale and benefits offerings are competitive, equitable, and align with the company's strategic goals. Below is a job description for a Compensation and Benefits: The Compensation and Benefits specialist plans, develops, and implements new and revised compensation and benefits programs, policies, and procedures to be responsive to the company's goals and competitive practices. This position is also responsible for ensuring that company compensation and benefits standards comply with company policies and/or other regulations or legislation

What We Offer

  • Industry-Focused Certifications: Meet leading healthcare experts, discuss innovative strategies, and become a subject matter expert with our comprehensive set of certifications.
  • Rewards and Recognition: Feeling like you’re outperforming on your projects? Get recognition for your dedicated efforts and demonstrated work ethic.
  • Health Insurance and Mental Well-being: We offer health benefits and insurance to you and your family for hospital-related expenses pertaining to any illness, disease, or injury. We also have Employee Assistance Programs (EAPs) to give you 24X7 access to certified therapists and psychologists.
  • Sabbatical Leave Policy: Do you want to focus on skill development, pursue an academic career, or just reset? We’ve got you covered.
  • Open Floor Plan: Cubicles are a thing of the past and to modernize our office space, we have open floor sittings at every office location. Share ideas with your peers and bond better in an open floor office where there are no barriers and you are inspired to be creative.
  • Paternity and Maternity Leave: Enjoy the industry’s best parental leave policy to welcome your bundle of joy and enjoy quality time with them.
  • Paid Time Off: Maintain a healthy work–life balance and take time off from work to focus on your well-being and big life moments.

A Day in the Life

  • Design, implement, and manage, total rewards framework- salary structures, create pay policies, pay-for-performance programs, create long term incentive plan.
  • Ensure that compensation practices comply with current laws and regulations (such as equal pay laws/ pay parity, minimum wage, overtime, and workers' compensation, etc.).
  • Conduct competitive market research to establish pay practices and pay bands that help to recruit and retain superior staff.
  • Monitor all pay practices and systems for effectiveness and cost containment.
  • Lead participation in salary and labor market surveys to determine prevailing pay rates and benefits.
  • Differentiate pay systems to invest in the segments of the workforce that contribute the most value.
  • Oversee the distribution of pay and benefits information to the company's employees.
  • Prepare and maintain reports necessary to carry out the functions of the department; prepare periodic reports for management, as necessary or requested.
  • Manage the design and development of tools to assist employees in benefits selection, and to guide managers through compensation decisions.
  • Prepare and execute, with legal consultation, benefits documentation, such as original and amended plan texts, benefit agreements, and insurance policies. Instruct insurance carriers, trustees, and other administrative agencies outside the company to effect changes in the benefit program.

What You Need

  • Bachelor's degree in human resources, business administration, finance, or a related field; a Master's degree is preferred.
  • Certified Compensation Professional (CCP) and/or Certified Employee Benefit Specialist (CEBS) designations are advantageous.
  • 5+ years of experience in compensation, benefits administration, or human resources management.
  • Strong understanding of the legal requirements and regulations affecting compensation and benefits programs.
  • Excellent analytical skills and the ability to interpret and communicate data.
  • Strong leadership and team management skills.
  • Proficient with HRIS (exposure to SAP systems will be an added advantage) and compensation management software tools.
  • Excellent communication and interpersonal skills

Preferred Skills

  • Knowledge of Postgres and Snowflake, handson experience in Python is a plus.
  • Experience in US Healthcare.

What We Offer

  • Industry-focused Certifications: We want you to be a subject matter expert in what you do. So, whether it’s our product or our domain, you will dive straight in and be certified by the best in the world.
  • Quarterly Rewards and Recognition Programs: We foster learning and encourage people to take moonshots. When you achieve your goals, we recognize and reward your hard work.
  • Health Benefits: We cover health insurance for you and your loved ones.
  • Sabbatical Policy: We encourage people to take time off and rejuvenate, upskill and pursue their interests so that they can generate new ideas for innovating at Innovaccer.
  • Pet-friendly office and open floor plan. No mundane cubicles.