Specialist - Compensation & Benefits - BFS

Job Title: Compensation and Benefits Specialist

Job Description :

As a Compensation and Benefits Specialist, you will play a crucial role in managing and administering the compensation and benefits programs within our organization. Your primary responsibility will be to design, implement, and maintain competitive and comprehensive compensation and benefits packages that attract, motivate, and retain our employees.

Key Responsibilities :

1. Compensation Management: Develop and manage compensation strategies, policies, and programs that align with industry standards and organizational objectives. Conduct regular market research to ensure our compensation packages remain competitive. Administer salary structures, job evaluations, and performance-based pay programs.

2. Benefits Administration: Oversee the administration of employee benefits programs, including health insurance, retirement plans, leave policies, and other welfare benefits. Collaborate with insurance providers and third-party vendors to negotiate contracts, resolve issues, and optimize benefit offerings.

3. Compliance and Governance: Ensure compliance with relevant labor laws, regulations, and company policies regarding compensation and benefits. Monitor legislative changes and industry trends to make necessary adjustments and maintain legal compliance.

4. Data Analysis and Reporting: Collect, analyze, and interpret compensation and benefits data to identify trends, patterns, and areas for improvement. Prepare reports and presentations to communicate findings and recommendations to key stakeholders, including senior management.

5. Employee Communication: Serve as a point of contact for employees regarding compensation and benefits-related inquiries. Develop and deliver employee communication programs to educate and engage employees on available benefits and changes to compensation policies.

6. Performance Management: Collaborate with the HR team to align compensation and benefits programs with performance management processes. Support managers in evaluating and rewarding employee performance through merit-based pay and incentive programs.

7. System Management: Utilize HRIS (Human Resources Information System) or other software tools to maintain accurate records of compensation and benefits data, track employee participation, and generate reports as needed.