Compensation & Benefits Specialist 04F25

The Compensation & Benefits Specialist plays a crucial role in shaping the employee experience and enhancing workforce satisfaction by designing and managing competitive compensation and benefits programs. This position requires a strategic thinker who can evaluate current compensation structures and benefits offerings and propose enhancements that align with the organization's goals and industry standards. The specialist will work closely with the HR team to ensure that compensation practices are both equitable and compliant with regulatory requirements. Additionally, by conducting market analyses and benchmarking against industry standards, the specialist will ensure the organization remains attractive to both current and potential employees. The ideal candidate will possess a deep understanding of compensation management, benefits administration, and employee relations, coupled with strong analytical and negotiation skills.

Responsibilities

• Design and implement comprehensive compensation programs that align with company goals.
• Conduct regular market analyses to ensure competitive salary structures for all positions.
• Develop and manage employee benefits plans to enhance employee satisfaction and retention.
• Ensure compliance with local, state, and federal compensation and benefits regulations.
• Collaborate with HR and management to discuss compensation and benefit needs and proposals.
• Analyze compensation and benefit trends to recommend strategic improvements to programs.
• Prepare and present detailed reports on compensation plans and benefit selections to stakeholders.
• Facilitate and manage open enrollment periods and communicate benefits changes to employees.
• Act as a liaison between the organization and benefits providers to resolve any issues.
• Develop communication materials to effectively convey compensation and benefits information to employees.
• Monitor budgets related to compensation and benefit programs to ensure cost-effectiveness.
• Provide advice and guidance to HR team and managers on compensation-related queries.

Requirements

• Bachelor's degree in Human Resources, Business Administration, or related field.
• At least three years of experience in compensation and benefits administration.
• Strong knowledge of local, state, and federal labor laws and regulations.
• Exceptional analytical skills and ability to interpret complex data and statistics.
• Proficiency with HRIS and compensation management software tools and applications.
• Excellent communication and interpersonal skills for effective collaboration.
• Ability to handle sensitive HR matters with confidentiality and professionalism.