As a Subject Matter Expert (SME) in Compensation and Benefits Administration, you will play a crucial role in ensuring that our client organization's compensation and benefits programs are competitive, compliant, and effectively administered. Your expertise will be instrumental in designing, implementing, and managing compensation and benefits strategies that attract, retain, and motivate employees while aligning with organizational goals and industry best practices
Strategic Planning: Collaborate with senior management and HR leadership to develop and implement compensation and benefits strategies that support the organization's overall objectives and talent acquisition/retention goals.
Policy Development: Develop and maintain compensation and benefits policies and procedures that comply with relevant laws and regulations while reflecting best practices in the field.
Market Analysis: Conduct regular benchmarking and market analysis to ensure that our compensation and benefits packages remain competitive within the industry and region.
Salary Structure Design: Design and maintain salary structures, job classifications, and salary ranges based on job evaluations, market data, and internal equity considerations.
Benefits Administration: Oversee the administration of employee benefits programs, including health insurance, retirement plans, wellness initiatives, and other fringe benefits.
Compliance: Ensure compliance with all relevant federal, state, and local regulations governing compensation and benefits, such as the Fair Labour Standards Act (FLSA), Affordable Care Act (ACA), and ERISA.
Data Analysis: Analyse compensation and benefits data to identify trends, opportunities for improvement, and areas of risk, providing insights and recommendations to inform decision-making.
Employee Communication: Develop and deliver communication materials to educate employees about compensation and benefits programs, policies, and changes.
Training and Development: Provide training and support to HR staff, managers, and employees on compensation and benefits-related topics, ensuring understanding and compliance.
Vendor Management: Oversee relationships with external vendors, consultants, and service providers involved in compensation and benefits administration, ensuring quality service delivery and cost-effectiveness.
Continuous Improvement: Lead or contribute to initiatives aimed at improving compensation and benefits processes, systems, and programs, driving efficiency, effectiveness, and employee satisfaction.