A Compensation and Benefits Manager is responsible for designing, implementing, and managing an organization's compensation and benefits programs to attract and retain top talent. This role is critical for ensuring the company remains competitive in the market while maintaining internal equity and compliance with federal and state regulations.
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What is a Compensation and Benefits Manager?
A Compensation and Benefits Manager is a specialized HR professional who oversees all aspects of employee compensation (salaries, bonuses, incentives) and benefits (health insurance, retirement plans, wellness programs). They analyze market data to develop competitive pay structures, ensure legal compliance, and align compensation strategies with organizational goals. This role requires a blend of analytical skills, knowledge of employment laws, and strategic thinking to balance employee satisfaction with budgetary constraints.
What does a Compensation and Benefits Manager do?
A Compensation and Benefits Manager designs and administers compensation packages, conducts market research to benchmark salaries, and ensures compliance with laws like the Fair Labor Standards Act (FLSA). They manage benefits enrollment, negotiate with vendors, and analyze program effectiveness. Additionally, they advise leadership on pay decisions, address employee inquiries, and develop strategies to improve retention and engagement through competitive rewards.
Job Overview
As a Compensation and Benefits Manager, you will design, implement, and manage our organization's compensation and benefits programs to attract, retain, and motivate top talent. You will ensure our total rewards packages remain competitive in the US market while aligning with business objectives and maintaining compliance with federal and state regulations.
Compensation and Benefits Manager responsibilities include:
1. Develop and execute comprehensive compensation strategies including base pay, incentive programs, and executive compensation
2. Design and manage health insurance, retirement plans, wellness programs, and other employee benefits
3. Conduct regular market analysis and benchmarking using compensation surveys (Mercer, Willis Towers Watson, etc.)
4. Ensure compliance with ERISA, FLSA, ACA, and other federal/state regulations
5. Manage annual compensation review processes and salary structure adjustments
6. Oversee benefits administration, vendor relationships, and open enrollment processes
7. Provide guidance to HR partners and business leaders on compensation decisions
8. Analyze compensation data and prepare reports for senior leadership and board committees
1. Bachelor's degree in Human Resources, Business Administration, or related field
2. 5+ years of progressive experience in compensation and benefits management
3. Expert knowledge of US compensation laws and regulations (FLSA, EPA, Title VII)
4. Proven experience designing and implementing compensation structures and benefits programs
5. Strong analytical skills with experience using compensation benchmarking tools and HRIS systems
6. CEBS, CCP, or similar professional certification
7. Experience managing benefits vendors and retirement plan administration
8. Proficiency in Excel for data analysis and modeling
Preferred Qualifications
1. Master's degree in HR Management, MBA, or related advanced degree
2. Experience in multi-state compensation management across US regions
3. Background in both corporate and consulting environments
4. Experience with executive compensation and equity programs
5. Knowledge of international compensation practices
6. Experience in mergers and acquisitions integration related to compensation and benefits
7. Proven track record of reducing benefits costs while maintaining quality
8. Experience with Workday, SuccessFactors, or similar enterprise HR platforms
Bonus Skills
1. Certified Compensation Professional (CCP) credential
2. Experience with non-profit or government compensation structures
3. Background in change management during compensation transformations
4. Proficiency in advanced data visualization tools (Tableau, Power BI)
5. Experience with diversity, equity, and inclusion compensation analytics
6. Knowledge of international assignee compensation and benefits
7. Experience managing compensation during IPO or significant organizational growth
8. Background in healthcare or financial services industry compensation practices
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