The Compensation & Benefits Specialist will support the Company's strategic initiatives by developing and maintaining total rewards to drive employee performance. This position is responsible for providing input into the design of the company's compensation and benefits programs and lead the implementation, administration, and delivery of such. Assists in the management of the benefits plan renewal process and serves as primary contact for plan vendors and third-party administrators. Analyzes organizational pay practices and makes recommendations for salary changes to ensure equity. Works with Managers to ensure accurate job descriptions for positions in the organization. Conducts job analysis to determine appropriate salary level according to compensation guidelines and policy.
The specific duties of the Compensation & Benefits Analyst include but are not limited to:
- Serve as a consultant to the business on compensation matters including pay philosophy, guidelines, position evaluation, program design, and regulatory compliance.
- Assist with the design and development of the annual and long-term incentive plans. Conduct salary surveys and job benchmarking to address internal equity issues and ensure market competitiveness.
- Execute the ongoing operational tasks of the Company's benefit programs. Oversee the data transfer process between the benefit enrollment system, third-party vendors, and the payroll/HRIS system. Conduct audits related to benefit plan enrollment and operations to ensure data integrity.
- Assist with compliance efforts and projects throughout the year (implementation of new programs/vendors, the annual Open Enrollment cycle, ACA reporting, Form 5500 filing, nondiscrimination testing and annual merit increase process).
- Ensure compliance with applicable federal, state and local laws and regulations in all areas of responsibility.
- Analyze claim trends with benefits broker and identify opportunities/solutions. Reconcile benefits invoices monthly, interacts with insurance carriers, HR system(s), and broker to resolve issues as required relating to claims and or bills
- Perform ongoing compensation analysis for new and existing jobs as well as promotions and adjustments.
- Collaborate with Talent Development and Corporate Communications to design communication strategies that will educate employees on compensation and benefit programs
- Administer 401(k) program including annual testing, auditing, and reporting
- Responsible for submitting and updating market surveys data and revising job matches as necessary.
- Assist with updating and creating compensation and benefit policy and procedures
- Perform other duties as required
- Bachelor's degree required in business or related field
- At least 5 years of work experience in compensation and benefits, preferably within a high-growth organization
- Experience in administration of equity plans is preferred
- Strong quantitative, analytical and organizational skills with excellent attention to detail
- Experience in compensation analysis
- Knowledge of applicable state and federal laws and regulations related to compensation and benefits
- Strong communication skills including the ability to effectively communicate verbally and in writing
- Strong data management skills; ability to audit, format, model and analyze large data sets.
- Sense of urgency and ability to collaborate across teams and functions
- Ability to create complex reporting solutions and transform data into information
- Proficiency using Microsoft Office Suite (Word, Excel, PowerPoint)
- CCP/CBP/CEBS Certification preferred.