Compensation & Benefits (C&B) Specialist
2 weeks ago
Primary Functions
The Compensation & Benefits (C&B) Specialist is responsible for designing, implementing, and managing employee compensation and benefits programs to ensure competitiveness, equity, and compliance. This role plays a critical part in attracting, motivating, and retaining talent, and supports broader HR and organizational strategies through data analysis and policy development.
Key Responsibilities:
1.Compensation Management
o Conduct salary benchmarking and market analysis to ensure competitive pay structures.
o Support the development and maintenance of salary structures, pay scales, and job grading systems.
o Administer annual salary reviews, merit increases, and bonus/incentive programs.
o Evaluate internal pay equity and recommend adjustments where necessary.
2. Benefits Administration
o Manage employee benefits programs including health insurance, retirement/pension plans, wellness initiatives, and leave policies.
o Work with vendors to negotiate and renew benefits contracts.
o Support employee communications and education around benefits offerings.
o Handle benefits-related queries and provide guidance to employees.
3. Data Analysis & Reporting
o Collect and analyze compensation and benefits data to provide insights and recommendations.
o Generate reports for HR leadership and finance to support workforce planning and budgeting.
o Ensure accurate maintenance of HRIS data related to compensation and benefits.
4. Compliance & Policy Management
o Ensure all compensation and benefits practices comply with local labor laws and regulations.
o Develop and maintain compensation and benefits policies and ensure consistent application across the organization.
o Support audits and reporting requirements for statutory bodies or internal stakeholders.
5. Strategic Support
o Partner with HR Business Partners and Talent Acquisition to provide competitive offers for new hires.
o Contribute to broader HR initiatives such as employee engagement, performance management, and workforce planning.
o Support change management and communication plans during C&B program rollouts or updates.
o Propose and create strategies for compensations packages to ensure attraction, retention of Talent, creating ownership and motivating excellence.
o Review periodically and advise on effectiveness of Companies Compensation and Benefits practices in supporting and meeting Company goals.
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