This Compensation and Benefits Specialist job description template can be posted to online job forums and career pages for the recruitment of candidates. You can modify the requirements and responsibilities given in this template according to the specific need of your company.
Compensation And Benefits Specialist Key Responsibilities
- Define equitable, competitive, and fair compensation and benefits packages that fit and are also in accordance with our business goals and strategies
- Develop consistent compensation policies in accordance with our organizational objectives and work culture
- Ensure that all compensation practices comply with current legislation (e.g. human rights, pay, equity, etc.)
We are hiring a qualified Compensation and Benefits Specialist for overseeing and administering the compensation, benefits, and rewards for our employees.
What does a Compensation and Benefits Specialist do?
A Compensation and Benefits Specialist assesses a company’s personnel needs for drafting targeted programs that increase employees’ performance, satisfaction, and organizational trust.
A Compensation and Benefits Specialist attracts, retains, and motivates high-potential employees to reduce turnover and enhance a company’s profile as an ideal place to work.
Compensation And Benefits Specialist Job Responsibilities
- Defining equitable, competitive, and fair compensation and benefits packages that fit and are also in accordance with our business goals and strategies
- Developing consistent compensation policies in accordance with our organizational objectives and work culture
- Ensuring that all compensation practices comply with current legislation (e.g. human rights, pay, equity, etc.)
- Conducting audits on a regular basis and also preparing reports
- Conducting ongoing research about emerging trends as well as best practices
- Deploying sound communication strategies and measuring effectiveness by success metrics
- Differentiating pay systems for investing in the most promising areas of the workforce
- Conducting different surveys for the purpose of determining benefits and pay rates
- Preparing job descriptions, analyses, evaluations, and classifications
- Assessing the needs of employees by conducting organizational psychology surveys for finding out what engages and motivates them
- Using various techniques and methods for making decisions on direct and indirect financial compensations as well as nonfinancial compensations
Compensation And Benefits Specialist Job Requirements
- At least a Bachelor’s degree in Finance, Business Administration, Human Resources Management, or a relevant field
- Prior experience as a Compensation and Benefits Specialist
- Experience with HRIS and MS Office, especially MS Excel
- Sound knowledge of compensation cycle management and all HR practices
- Experience with job analysis and job evaluation systems
- Experience of conducting labor market and organizational psychology surveys
- Familiarity with current labor rules/regulations
- Familiarity with different kinds of benefits and incentives
- Strong verbal as well as non-verbal communication skills
- Exceptional time-management and organizational skills
- Strong numerical and quantitative analysis skills