The Compensation and Benefits Specialist is responsible for designing, implementing, and managing the company's compensation structures and benefits programs. This role ensures competitive pay practices to attract and retain talent while aligning with organizational goals.
- Develop and manage compensation plans including salary structures, bonuses, and incentives.
- Administer employee benefits programs such as health insurance, retirement plans, etc.
- Conduct market research to ensure competitive pay practices.
- Ensure compliance with legal regulations related to compensation and benefits.
- Collaborate with HR team on job evaluations and salary surveys.
- Provide guidance on compensation-related issues to management.
- Strong analytical skills for data analysis in compensation studies.
- Proficiency in HRIS systems like Workday or SAP SuccessFactors.
- Excellent communication skills for explaining complex information clearly.
The performance of the Compensation & Benefits Specialist is evaluated through effective management of cost-efficient benefit programs that meet employee needs while maintaining compliance with regulatory standards. Additionally measured by successful implementation of competitive pay strategies that support talent retention goals within budget constraints
Cost Management
Maintain or reduce costs associated with benefit programs without compromising quality.
Compliance Adherence
Ensure 100% adherence to all relevant legal requirements regarding employee compensations
Employee Satisfaction
Increase satisfaction levels related specifically towards company offered compensations & benefits
Reports to
HR Manager
Collaborates with
Finance Department
Leads
- Workday
- SAP SuccessFactors
Bachelor's degree in Human Resources Management or a related field; 3-5 years experience specializing in compensation & benefits administration
