Compensation and Benefits Manager

The Compensation and Benefits Manager is responsible for overseeing the compensation and benefits division of a company. He/She analyzes compensation data within an organization and evaluates job positions to determine classification and salary. He/She administers employee insurance, pension and savings plans and works with insurance brokers and plan carriers.

Key Responsibilities

  • Oversees the distribution of pay and benefits information to the organization’s employees
  • Monitors the effectiveness of existing compensation practices and recommends changes that are cost-effective and consistent with compensation trends and corporate objectives.
  • Designs, implements, and manages salary classification and compensation programs.
  • Ensures all programs, policies, and procedures comply with current legislation.
  • Oversees the participation in salary surveys and monitors salary survey data to ensure corporate compensation objectives are achieved.
  • Analyzes surveys to ensure appropriate compensation across all departments.
  • Designs the basic compensation structures in the organization (grading system, job evaluation system, job description policy, promotion policy, etc) aligned with the corporate culture and the corporate values
  • Prepare a program budget and operate within that budget

Job Requirements/Qualifications:

  • Bachelor’s degree in Human Resources, Psychology, Business Administration, or related field required.
  • At least 5 years of experience as a compensation and benefits manager or in a related role.
  • Knowledge of laws and regulations as they apply to base compensation and incentive compensation programs, company policies, and operations.
  • SHRM Certified Professional (SHRM-CP) or Senior Certified Professional (SHRM-SCP) and certified compensation professional credentials preferred.

Skills needed for this role

The Compensation and Benefits Manager should be able to develop competitive and cost-efficient programs that will assist with employee retention and attract top talent. He/She must have extensive experience leading compensation and benefits programs, along with excellent decision-making skills.

Career Level

Managerial

Job Specializations

Human Resources, Compensation & Benefits