Compensation and Benefits Manager Job Description Template
What is a Compensation and Benefits Manager?
Compensation and benefits managers are responsible for developing compensation structures, managing employee benefits programs, ensuring compliance with regulations, and analyzing compensation data. They play a crucial role in attracting and retaining talent within an organization.
A bachelor's degree in human resources, business administration, or a related field is typically required. Strong analytical skills and experience with compensation software are also important.
Compensation and Benefits Manager Job Description Template
Job Brief
We are looking for a Compensation and Benefits Manager that will establish best practices, attract high-quality employees and reduce turnover.
Compensation and Benefits Manager responsibilities include researching employee motives, implementing appealing rewards and tailoring benefit programs based on staff needs. To be successful in this role, you should have good knowledge of labor legislation and be familiar with organizational psychology and employee engagement.
Ultimately, you will build fair and attractive compensation and benefits plans that help us improve employee satisfaction and create a productive workplace.
Responsibilities
- Design compensation packages and bonus programs that align with the company’s strategic plan
- Ensure salaries and benefits comply with the current legislation about human rights and pay equity
- Identify trends and implement new practices to engage and motivate employees
- Conduct research on employee satisfaction (e.g. using surveys and quantitative data)
- Renew our compensation plans with monetary and non-monetary benefits based on employee needs
- Keep track of prevailing pay rates and make sure we offer competitive compensation plans
- Draft job descriptions, job analyses and classifications
- Structure compensation in ways that will yield the highest value for the organization
- Evaluate and report on the effectiveness of employee benefit programs
- Track compensation and benefits benchmarking data
Requirements
- Experience as a Compensation and Benefits Manager or similar role
- Hands-on experience with HRIS or payroll software
- Knowledge of building compensation packages and bonus programs for various departments and seniority levels
- Excellent understanding of job evaluation and job analysis systems
- Good analytical skills
- Familiarity with labor legislation
- Experience with employee satisfaction surveys
- BSc in Human Resources Management, Organizational Psychology, Finance or relevant field
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