SAP SF Compensation and variable pay

JOB DESCRIPTION- SAP Compensation, Variable Pay & Benefits Lead

NOTE- Immediate to 15 Days Notice Period Candidates will be considered.

Position Overview

Oversee and execute the end-to-end Compensation, Variable Pay, and Employee Benefits architecture. Ensure competitive, compliant, and data-driven pay structures while driving operational accuracy, cost efficiency, and strong alignment with business performance.
Key Responsibilities

1. Compensation Management

• Lead annual increment, merit, promotion, and market-adjustment cycles.
• Perform salary benchmarking and role evaluations using market data (e.g., Mercer, Aon).
• Manage salary bands, pay structures, and internal pay equity audits.
• Provide data-backed compensation proposals for new hires, promotions, and retention cases.

2. Variable Pay & Incentives

• Design, administer, and govern short-term incentive, bonus, and sales pay plans.
• Execute monthly, quarterly, and annual variable pay calculations, audits, and payouts.
• Partner with Finance and Business Unit leaders to define, track, and validate target KPIs.

3. Benefits Administration & Vendor Management

• Manage health insurance, leaves, wellness initiatives, and retirement benefits.
• Lead vendor management, SLA tracking, broker negotiations, and program renewals.
• Resolve escalated employee queries and ensure clear benefit policy communications.

4. Governance & Statutory Compliance

• Maintain C&B policy compliance with statutory regulations (PF, Gratuity, ESIC, LWF, Minimum Wages).
• Maintain complete documentation and process controls for internal and external audit readiness.
• Standardize and automate Total Rewards workflows.

5. Analytics, Modeling & Budgeting

• Build executive dashboards tracking C&B cost impacts, headcount metrics, and payout trends.
• Perform financial modeling and scenario planning to support strategic decision-making.
• Assist in annual budgeting and cost forecasting for pay, incentives, and benefits.

6. Stakeholder Engagement

• Act as the C&B Subject Matter Expert (SME) for HRBPs, Talent Acquisition, Finance, and Business Leaders.
• Drive communication and rollout plans for annual rewards, incentive cycles, and policy updates.

Key Performance Indicators (KPIs)

• Execution: 100% timeliness and zero-error accuracy in increment and variable pay cycles.
• Compliance: 100% statutory compliance and clean audit reports.
• Competitiveness: Alignment of salary bands with target market percentiles.
• Cost Efficiency: Effective benefit program renewals within budget parameters.

Requirements & ProfileExperience & Education

• Experience: 7–12 years of core experience in Compensation & Benefits or Total Rewards in mid-to-large enterprise environments.
• Education: Bachelor’s degree in HR, Business, or Finance. MBA/PGDM preferred.

Key Skills

• Technical: Deep C&B domain expertise, Indian C&B statutory rules, Mercer/Aon benchmarking tools, advanced Excel modeling, and HRIS/payroll platforms.
• Competencies: Analytical problem-solving, high data accuracy and confidentiality, strong execution discipline, and clear stakeholder communication.