This Compensation and Benefits Specialist job description template is optimized for posting on online job boards or careers pages and is easy to customize for your company. Customize the job duties and responsibilities for your company’s compensation and benefits needs.
Compensation and Benefits Specialist Responsibilities
- Defining a fair, equitable and competitive total compensation and benefits package
- Developing a consistent compensation philosophy
- Ensuring that compensation practices are in compliance with current legislation
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We are looking for a Compensation and benefits specialist to oversee and administer the employees perfect rewards and smart benefits. You will assess personnel needs and draft targeted programs that will increase performance, organisational trust and satisfaction.
The goal is to attract, retain and motivate high quality employees while reducing turnover and enhancing our company’s profile as best place to work.
- Define a fair, equitable and competitive total compensation and benefits package that fits and is aligned to our company’s strategy and business goals
- Develop a consistent compensation philosophy in line with work culture and organisational objectives
- Ensure that compensation practices are in compliance with current legislation (pay equity, human rights, etc)
- Use various methods and techniques and make data based decisions on direct financial, indirect financial and nonfinancial compensations
- Assess employees needs by conducting organisational psychology surveys to find out what motivates and engages employees
- Prepare job descriptions, job analysis, job evaluations and job classifications
- Participate in salary and labour market surveys to determine prevailing pay rates and benefits
- Differentiate pay systems to invest in the segments of workforce that contribute the most value
- Deploy effective communication strategies and success metrics
- Conduct ongoing research into emerging trends, issues and best practices
- Conduct periodic audits and prepare reports
- Proven working experience as a compensation and benefits specialist
- Prior experience in HR practices and compensation cycle management
- Working knowledge of job evaluation and job analysis systems
- Previous experience with organisational psychology and labour market surveys
- Adequate knowledge of current labour rules and regulations
- Familiarity with various types of incentives and benefits
- Extensive knowledge of HRIS and MS Office
- Strong quantitative and analytical skills
- BS degree in human resources, business administration or finance