Job Summary
Compensation & Benefits Specialist is responsible for developing, implementing, and administering competitive and compliant compensation and benefits programs that align with the organization's strategic goals and attract, retain, and motivate high‑quality employees.
This role involves analyzing market data, ensuring legal compliance, and effectively communicating C&B policies to employees and management.
Key Responsibilities
Compensation Program Management
- Design, develop, and implement compensation structures, including salary grades, pay ranges, and incentive plans (e.g., bonuses, commissions).
- Conduct job evaluations and classifications to ensure internal equity and external competitiveness.
- Participate in salary surveys and conduct market research to analyze compensation trends and benchmarks.
- Manage the annual salary review process, including budgeting, analysis, and communication.
- Support the development and administration of performance‑based pay programs.
Benefits Program Administration
- Administer and manage various employee benefits programs, such as health insurance, retirement plan, life insurance, disability benefits, and paid time off.
- Evaluate existing benefits offerings, analyze their effectiveness and cost‑efficiency, and recommend enhancements.
- Liaise with external benefits providers, brokers, and consultants.
- Assist employees with benefits enrollment, inquiries, and claims resolution.
Policy Development & Compliance
- Develop, review, and update compensation and benefits policies and procedures to ensure alignment with organizational objectives and legal requirements.
- Ensure compliance with all relevant labor laws, regulations, and industry standards.
- Conduct regular audits of compensation and benefits data and processes to ensure accuracy and compliance.
Data Analysis & Reporting
- Analyze compensation and benefits data to identify trends, measure program effectiveness, and provide insights to management.
- Prepare and present reports on compensation and benefits metrics, including costs, participation rates, and market competitiveness.
- Utilize HRIS and other compensation software for data management and reporting.
Stakeholder Communication & Support
- Communicate complex compensation and benefits information clearly and effectively to employees at all levels.
- Provide guidance and support to HR Business Partners, managers, and employees on compensation and benefits‑related matters.
- Collaborate with other HR functions (e.g., talent acquisition, HRIS) and finance to ensure seamless integration of C&B initiatives.
Continuous Improvement
- Stay abreast of emerging trends, best practices, and legislative changes in compensation and benefits.
- Identify areas for improvement in C&B processes and programs and implement solutions.
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