Compensation Benefits Specialist

Compensation & Benefits Lead

Department: Human Resources

Location: Hyderabad

Experience: 10 - 12 years

Reports to: Head of HR

Role Overview:

We are seeking an experienced Compensation & Benefits Lead to design and manage comprehensive total rewards strategies, performance management systems, and HR digitization initiatives. This role also requires mandatory hands-on expertise in payroll operations, PMS implementation, and HRMS digitization.

Key Responsibilities:

Total Rewards & Compensation Strategy:

• Design competitive compensation structures: base pay, variable pay, incentives, bonuses.
• Conduct market benchmarking and salary surveys; develop job evaluation frameworks and salary bands.
• Lead annual compensation cycles: salary revisions, increments, promotions, bonus payouts.
• Develop and implement total rewards philosophy balancing cash, equity, and benefits.
• Provide compensation guidance for offers, lateral hires, and retention cases.

Benefits & Perquisites Administration:

• Manage employee benefits: health insurance, life insurance, gratuity, superannuation, wellness programs.
• Negotiate with insurance providers and benefits vendors; optimize cost-effectiveness.
• Implement innovative benefits: flexible benefits, parental support, financial planning, employee assistance programs.
• Ensure statutory benefits compliance: PF, ESI, gratuity, bonus, etc.

Payroll Operations & Compliance:

• Oversee end-to-end payroll processing ensuring 100% accuracy and timeliness.
• Strong statutory and legal knowledge, including compliance with the Factories Act and other applicable labour and industrial laws.
• Manage statutory compliance: PF, ESI, PT, LWF, TDS, gratuity; file monthly/quarterly/annual returns.
• Handle payroll for all employee categories: full-time, contract, consultants, interns.
• Process F&F settlements, leave encashment, and exit formalities.
• Coordinate statutory audits and ensure labor law compliance.
• Reconcile payroll with finance systems.

Performance Management System - PMS:

• Drive appraisal cycles: goal setting, reviews, calibration, rating moderation.
• Link performance to compensation: merit increases, bonuses, promotions.
• Conduct performance analytics, train managers on feedback and PIPs.
• Implement performance tracking tools and dashboards.

Incentive & Variable Pay Design:

• Design short-term incentive plans (STI): quarterly/annual bonuses, performance-linked pay.
• Develop incentive structures: commissions, accelerators, achievement-based payouts.
• Create team-based and individual incentive schemes aligned with business goals.
• Monitor incentive payout accuracy and impact on performance outcomes.
• Benchmark incentive practices and recommend improvements.

HR Digitization & Technology (Mandatory):

• Lead HRMS implementation and optimization (Keka, Darwinbox, Greytip, or similar)
• Automate HR processes: payroll, attendance, leave, reimbursements, benefits enrolment.
• Implement employee self-service portals and manager dashboards.
• Integrate compensation, benefits, and PMS modules for seamless data flow.
• Generate HR analytics, MIS reports, and dashboards for data-driven decisions
• Ensure data security, confidentiality, and compliance.
• Evaluate and implement new HR tech: compensation planning tools, survey platforms.

Policy, Compliance & Reporting:

• Develop compensation, benefits, and payroll policies aligned with labor laws.
• Ensure compliance with Minimum Wages Act, Payment of Bonus Act, Equal Pay Act.
• Partner with Finance on compensation budgeting and forecasting.
• Present compensation proposals and analytics to leadership.

Required Qualifications:

• MBA (HR/Finance) or PG Diploma; Bachelor's in Commerce/Finance
• 10-12 years in Compensation & Benefits with MANDATORY hands-on experience in:
• Payroll operations and statutory compliance (PF, ESI, PT, TDS)
• Performance Management System (PMS) design and implementation.
• HR digitization and HRMS implementation/optimization.
• Incentive and variable pay design.
• Deep expertise in Indian payroll, labour laws, and compliance.
• Advanced Excel skills; compensation modelling and analytics.
• Experience with salary benchmarking, market surveys, total rewards design.

About Skyroot Aerospace:

Skyroot Aerospace is India's first private space launch company, building a family of launch vehicles to make space access affordable and reliable. We made history in 2022 with Vikram-S, India's first privately developed rocket launch. Backed by marquee investors and with a clear path to commercial operations, we're scaling rapidly to meet ambitious launch schedules and growth targets.