Rewards Manager

We are looking for a Total Rewards professional to drive the design, implementation and governance of compensation and long-term incentive programs. The role will partner closely with HR Business Partners, business leaders, Finance and other stakeholders to ensure that our rewards programs are competitive, equitable, performance-oriented and aligned with business strategy.
The role will have significant exposure to compensation strategy, market benchmarking, annual compensation cycles, variable pay, LTI/ESOP programs, rewards analytics and compensation governance.
Key Responsibilities
1. Compensation Strategy & Design
Support the design and implementation of compensation programs covering fixed pay, variable pay, incentives and other reward elements.
Develop and review compensation structures aligned with the organization's pay philosophy, business strategy and talent priorities.
Conduct periodic reviews of salary structures, pay ranges, grades and compensation practices.
Partner with HRBPs and business leaders to provide compensation recommendations for promotions, critical talent, retention and new hires.
Ensure internal equity and consistency in compensation decisions across businesses and employee groups.
2. Market Benchmarking & Compensation Intelligence
Lead/coordinate market benchmarking and salary surveys using external compensation surveys and market data.
Analyze market positioning and provide insights on pay competitiveness, salary structures and emerging rewards trends.
Translate market data into actionable recommendations for compensation strategy and annual pay decisions.
Track compensation trends across relevant industries, talent segments and geographies.
3. Annual Compensation & Incentive Processes
Drive end-to-end execution of annual increment and bonus cycles, including planning, budgeting, governance and communication.
Support design and review of short-term incentive / variable pay plans.
Conduct cost modelling and scenario analysis for compensation proposals.
Partner with Finance to ensure compensation programs remain within approved budgets.
Develop guidelines, governance frameworks and communication materials for compensation cycles.
4. Long-Term Incentive Plans – LTI / ESOP
Support the design, implementation and administration of Long-Term Incentive Plans (LTIP/ESOP/RSU).
Evaluate LTI structures in the context of retention, performance, shareholder alignment and long-term business objectives.
Support annual LTI grant cycles, including eligibility, quantum, approvals, communication and administration.
Work with Finance, Legal, Company Secretarial and other stakeholders on LTI governance and compliance.
Track vesting, grants, utilisation and LTI-related analytics and provide periodic management reporting.
5. Rewards Analytics & Dashboards
Develop and maintain compensation dashboards and key rewards metrics.
Analyze compensation data to identify trends around:
Pay positioning
Internal equity
Pay progression
Attrition and compensation
Promotion and increment outcomes
LTI participation and retention
Build data-driven insights to support senior management decision-making.
Leverage HR analytics / BI tools to improve visibility and effectiveness of rewards programs.
6. Compensation Budget & Cost Management
Support annual manpower and compensation budgeting.
Develop compensation cost projections and scenario models.
Monitor actual compensation spend against budget and highlight key variances.
Identify opportunities to optimize compensation spend while maintaining competitiveness and talent outcomes.
7. Stakeholder Management
Partner closely with HRBPs, business leaders, Finance, Legal and HR leadership on rewards-related matters.
Provide expert guidance on compensation-related queries, exceptions and employee cases.
Present compensation insights and recommendations to senior stakeholders.
Build strong relationships with external compensation consultants and survey providers.
8. Governance, Compliance & Process Excellence
Ensure compensation and incentive programs are aligned with applicable regulatory, statutory and governance requirements.
Establish and maintain appropriate SOPs, approval frameworks and documentation.
Continuously identify opportunities to simplify, digitize and automate rewards processes.
Ensure high levels of data accuracy, confidentiality and process governance.
Preferred Candidate Profile
6–8 years of experience in Compensation & Benefits / Total Rewards / Rewards.
Strong experience in compensation benchmarking, annual compensation cycles and incentive design.
Experience in LTI / ESOP / RSU / retention programs will be strongly preferred.
Strong understanding of compensation structures, pay philosophy and market practices.
Good analytical and financial modelling skills with the ability to interpret large datasets.
Experience working with compensation surveys such as Mercer, Aon, WTW or similar.
Strong proficiency in Excel and PowerPoint; experience with Power BI / HR analytics tools would be an advantage.
Strong stakeholder management skills with the ability to work with senior business and HR leaders.
Ability to translate complex compensation concepts into simple, business-oriented recommendations.
Strong attention to detail, governance orientation and ability to manage multiple compensation cycles simultaneously.
MBA/PGDM in HR / equivalent qualification from a reputed institution preferred

Work arrangement
No