What are the responsibilities and job description for the Manager, Compensation & Benefits position at Current Openings?
The Compensation & Benefits Manager is responsible for managing the design, administration, analysis, and continuous improvement of the Company's compensation and benefits programs. This role ensures that total rewards programs support the attraction, retention, and engagement of talent while maintaining market competitiveness, internal equity, cost-effectiveness, and compliance with applicable regulations. The position serves as a strategic partner to HR, Finance, and business leaders by providing expert guidance on compensation, benefits, job evaluation, pay practices, and regulatory requirements.
Key Duties & Responsibilities
- Lead the administration and continuous improvement of the organization's compensation and benefits programs to ensure market competitiveness, internal equity, cost effectiveness, and regulatory compliance.
- Provide strategic leadership and direction to the compensation and benefits team, overseeing performance, prioritization of initiatives, resource allocation, and achievement of objectives.
- Analyze compensation and benefits utilization, market trends, employee feedback, and cost data to identify opportunities for program enhancements and cost optimization.
- Monitor compensation and benefits market trends, regulatory developments, and industry best practices to ensure programs remain competitive, compliant, and aligned with organizational objectives.
- Ensure compliance with all applicable federal, state, and local laws and regulations governing compensation and benefits programs, including FLSA, ERISA, ACA, COBRA, HIPAA, and related requirements.
- Coordinate audits, regulatory filings, reporting requirements, and compliance activities related to total rewards programs.
- Provide guidance, consultation, and training to managers, HR team members, and employees on compensation and benefits policies, programs, and practices.
- Lead total rewards projects, process improvements, and system enhancement initiatives to improve operational efficiency, data integrity, compliance, and service delivery.
- Perform other duties and responsibilities as assigned.
- Manage the delivery of employee benefits programs, including health and welfare, retirement, wellness, leave, and other benefit offerings, while promoting a positive employee experience.
- Lead annual benefits enrollment activities, including planning, employee communications, education, and program implementation.
- Develop and maintain relationships with benefits brokers, consultants, carriers, and third-party administrators; evaluate vendor performance and identify opportunities for service improvements and cost savings.
- Lead vendor selection and RFP processes, assist with the negotiation contracts and service agreements, and drive continuous improvement initiatives to enhance service delivery, mitigate risk, improve employee outcomes, and optimize program costs.
- Manage annual compensation processes, including market pricing, salary structure reviews, merit increases, promotions, progressions, market adjustments, and incentive plan administration.
- Conduct and oversee compensation analyses, benchmarking, and cost modeling to support business decisions, workforce planning, and talent attraction and retention strategies.
- Partner with HR Business Partners and business leaders to evaluate positions, develop and maintain job descriptions, assign salary grades, and determine appropriate FLSA classifications.
- Administer and govern compensation programs, including base pay, incentive plans, recognition programs, and other total rewards initiatives.