Accounting Manager
May 9, 2025Dayforce Payroll Lead Consultant
May 13, 2025Compensation & Benefits Specialist 10169
SUMMARY
The Compensation Specialist is responsible for managing and overseeing compensation structures, including merit increases, bonus plans, and salary adjustments. This role will also involve analyzing compensation data, ensuring internal equity, and helping to create competitive compensation packages that align with the company’s goals and industry standards.
Essential duties and responsibilities include (but not limited to):
Compensation:
- Merit Compensation Management: Process wage and salary changes resulting from merit increases, promotions, or other job changes. Validate the merit file, complete the upload to the system, and audit the results.
- Collaboration with HR and Leadership: Work closely with HR business partners, leadership, and department heads to provide recommendations for salary adjustments, promotions, and compensation-related decisions, ensuring internal equity and employee satisfaction.
- Salary Structure Design: Assist in developing and managing compensation structures, including base salaries, bonuses, and incentive programs.
- Compensation Analysis: Research, analyze, and evaluate salary data and compensation trends within the industry to ensure competitiveness and compliance.
- Market Research: Assist with internal and external salary surveys and benchmarking studies to identify industry compensation trends, program analysis, job evaluations, and job descriptions.
- Job Evaluations: Maintains job descriptions and grades for all positions within the organization. Conduct job analysis and classification for new positions as needed, ensuring positions are appropriately categorized within the compensation structure.
- Compensation Policy Development: Develop, recommend, and implement compensation policies and procedures in alignment with company goals and legal requirements.
- Collaboration with HR and Leadership: Work closely with HR business partners and department heads to support hiring, retention, and pay decisions.
- Relocation Packages: Assist in managing relocation packages for employees required to move for new roles or assignments.
- Job Leveling: Work closely with department heads to assess job roles and recommend appropriate job levels based on responsibilities, skills, and experience required. Align job levels with appropriate salary bands, ensuring that each position’s pay is consistent with its classification within the company’s compensation structure. Maintain detailed records of job level criteria, job descriptions, and the reasoning behind the job level classification for each role. Ensure that job-level documentation is up to date and accessible for reference.
- Bonus Plan Design & Administration: Assist in the design and implementation of bonus plans. Work with leadership to ensure the bonus structure aligns with company objectives, employee performance, and market practices.
- Compensation Statements: Create and design clear, user-friendly compensation statement templates that effectively communicate all elements of employee compensation, including base salary, bonuses, benefits, retirement contributions, and other perks. Oversee the integrity of compensation data used in the creation of compensation statements.
Benefits:
- Assist with creating and distributing benefits communications.
- Assist with annual renewal and Open Enrollment process.
- Ensure accurate benefit administration and compliance of plans, escalating complex issues as needed.
- Assist with benefit plan audits and integrations.
- Monitor and audit benefits systems and electronic data files to vendors.
- Reconcile and process payment of monthly carrier billing for benefit plans timely and accurately.
- Assist with benefit administration of all benefit plans including Health & Welfare, Life & Disability, 401(k), Flexible Spending Accounts, Health Savings Accounts and COBRA.
- Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.
EDUCATION AND QUALIFICATIONS
- High school diploma or equivalent required.
- Bachelor's degree in Human Resources, Business Administration (or other related area) preferred, but not required.
- 2-4 Years of compensation experience.
- Organization and problem resolution skills are a must.
- Attention to detail, accuracy, and ability to manage multiple projects at one time required.
- Possess excellent verbal and written communication and presentation skills.
- Able to work independently.
- Ability to establish and maintain effective relationships with other management staff and employees.
- Strong computer skills including MS Office applications including Excel, PowerPoint, Word, and Outlook
- Experience with HR database systems (HRIS) and Payroll Systems (i.e. – ADP, Paycom, etc.) is desired.
- Possess high level of maturity, professionalism, and treatment of confidential matters.