Compensation & Benefits Specialist 01D25

A Compensation & Benefits Specialist is a vital role within the human resources department, tasked with managing and overseeing employee remuneration and benefit programs. This specialist ensures that compensation structures align with industry standards, organizational goals, and legal requirements while also being attractive to current and prospective employees. This role requires comprehensive analytical skills and extensive knowledge of compensation policies, job evaluation, salary surveys, and benefits administration. The ideal candidate will be seasoned in developing and implementing compensation strategies that are fair and motivating. Additionally, this role navigates the complex landscape of compliance and regulatory standards regarding compensation and benefits, making strong attention to detail and a strategic mindset essential. The Compensation & Benefits Specialist will work closely with HR, finance teams, and other stakeholders to support the organization's recruitment, retention, and employee satisfaction objectives.

Responsibilities

• Design and develop competitive compensation structures to attract and retain top talent.
• Analyze current compensation policies to ensure alignment with corporate goals and standards.
• Conduct market research and benchmark analysis to ensure competitive practices.
• Administer employee benefits programs, including health insurance and retirement plans.
• Ensure compliance with all federal, state, and local compensation laws and regulations.
• Collaborate with HR and finance to evaluate job descriptions and salary data.
• Advise leadership on compensation trends and offer insights for strategic planning.
• Evaluate employee benefits preferences and make recommendations for enhancements.
• Support annual compensation reviews, including salary adjustments and bonus allocations.
• Design and produce compensation reports and forecasts for senior management.
• Resolve benefits-related issues and address employee queries efficiently.
• Maintain confidentiality and implement data security practices concerning compensation information.

Requirements

• Bachelor's degree in Human Resources, Business Administration, or a related field.
• Proven experience as a Compensation & Benefits Specialist or similar role in HR.
• Strong knowledge of federal and state regulations governing compensation and benefits.
• Excellent analytical, organizational, and problem-solving skills are essential.
• Proficiency in data analysis tools and human resources management software.
• Strong interpersonal and communication skills for effective collaboration.
• High level of integrity and discretion in handling confidential information.
• Ability to work independently and manage multiple projects simultaneously.