Job Summary: The Compensation and Benefits Manager is responsible for designing, implementing, and managing the organization's compensation and benefits programs. This role involves developing and maintaining competitive compensation structures, overseeing employee benefits plans, ensuring compliance with legal requirements, and aligning compensation and benefits strategies with organizational goals. The Compensation and Benefits Manager works closely with HR leadership, finance, and senior management to ensure that the organization attracts, retains, and motivates top talent.

Key Responsibilities:

1. Compensation Strategy and Management:

   • Develop and implement competitive compensation strategies that align with the organization's goals and market conditions.
   • Conduct regular market analyses to ensure that compensation structures are competitive and equitable.
   • Design and manage salary structures, incentive programs, and job evaluation processes to support the organization's talent management strategies.
   • Oversee the administration of base pay, merit increases, bonuses, and other compensation programs.

2. Benefits Program Management:

   • Manage the organization's employee benefits programs, including health insurance, retirement plans, wellness programs, and other benefits offerings.
   • Evaluate existing benefits programs and recommend enhancements to meet the needs of employees and the organization.
   • Ensure the effective communication of benefits programs to employees, including conducting benefits orientations, developing informational materials, and providing ongoing support.
   • Partner with benefits providers, brokers, and consultants to manage plan renewals, negotiations, and implementations.

3. Compliance and Reporting:

   • Ensure that compensation and benefits programs comply with federal, state, and local regulations, including FLSA, ERISA, ACA, and other relevant laws.
   • Prepare and submit required reports and filings, such as EEO-1, 5500s, and other regulatory reports.
   • Maintain accurate and up-to-date records of compensation and benefits programs, ensuring compliance with documentation and reporting requirements.

4. Budgeting and Financial Management:

   • Develop and manage budgets for compensation and benefits programs, ensuring alignment with organizational financial goals.
   • Monitor compensation and benefits expenditures and provide regular financial reports to HR leadership and finance teams.
   • Identify cost-saving opportunities and make recommendations for optimizing compensation and benefits spending.

5. Employee Communication and Support:

   • Develop and implement communication strategies to ensure employees understand and value their compensation and benefits packages.
   • Serve as a resource for employees and managers on compensation and benefits matters, providing guidance and resolving issues as needed.
   • Conduct employee surveys and focus groups to gather feedback on compensation and benefits programs and make improvements as needed.

6. Performance Management and Pay for Performance:

   • Support the organization's performance management process by ensuring alignment between performance outcomes and compensation rewards.
   • Develop and manage pay-for-performance programs, including bonus and incentive plans, that drive employee engagement and achievement of organizational goals.
   • Provide guidance to managers on performance-based compensation decisions and ensure consistency in application.

7. Data Analysis and Reporting:

   • Analyze compensation and benefits data to identify trends, assess competitiveness, and make data-driven recommendations for improvements.
   • Prepare and present reports on compensation and benefits metrics, including cost analysis, utilization rates, and employee satisfaction.
   • Use data to continuously monitor the effectiveness of compensation and benefits programs and make adjustments as needed.

8. Vendor Management:

   • Manage relationships with external vendors, including benefits providers, insurance brokers, and compensation consultants.
   • Oversee vendor selection, contract negotiations, and service level agreements to ensure high-quality and cost-effective services.
   • Monitor vendor performance and address any issues or concerns in a timely manner.

9. Continuous Improvement:

   • Stay current with industry trends, best practices, and emerging issues in compensation and benefits management.
   • Participate in professional development and training to enhance compensation and benefits expertise.
   • Contribute to the continuous improvement of compensation and benefits programs, processes, and tools.

Qualifications:

• Bachelor's degree in Human Resources, Business Administration, Finance, or a related field; Master's degree preferred.
• 5+ years of experience in compensation and benefits management, with a proven track record of designing and managing successful programs.
• Strong knowledge of compensation and benefits practices, market trends, and legal requirements.
• Experience in conducting market analyses, job evaluations, and benefits plan design.
• Excellent analytical, communication, and interpersonal skills, with the ability to influence and collaborate with stakeholders at all levels.
• Proficiency in using HRIS systems and compensation/benefits management tools.
• Strong attention to detail and a commitment to data accuracy and integrity.