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Job Description
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, organizational 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. Compensation includes wages and salaries, while benefits include things like health insurance, vacation time, and pension plans. Compensation and benefits are important because they can help attract and retain talented employees.
Responsibilities
- 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 organizational objectives.
- Ensure that compensation practices are in compliance with current legislation (pay equity, labor law, etc.)
- Use various methods and techniques and make data-based decisions on direct financial, indirect financial and nonfinancial compensations.
- Assess employees needs by conducting organizational psychology surveys to find out what motivates and engages employees.
- Prepare job descriptions, job analysis, job evaluations and job classifications.
- Perform periodic Market Salary Surveys to collect up to date market data and ensure alignment of comp. & ben. with local/international companies and push for leading traits in order to brand the company as an employer of choice.
- Differentiate pay systems to invest in the segments of workforce that contribute the most value.
- Creation and improvement of salary, benefit, and bonus systems
- Manage and update Policies & Procedures to ensure compliance with local labor law.
- Administers employee insurance programs including life, disability, and health insurance plans.
- Advises and informs employees of changes and developments related to benefits including eligibility, coverage, and provisions.
- Manage and maintain organization structure in coordination with the Human Capital Planning part.
- Prepare detailed job descriptions and classification systems and define job levels.
- Conduct exit interviews to identify reasons for employee termination.
- Prepare budgets for personnel operations.
- Ensure that compensation practices are in compliance with current laws and regulations.
- Maintains knowledge of economic conditions, labour market, and other factors related to ensuring the organization provides competitive and reasonable benefits and compensation scales and structures.
- Deploy effective communication strategies and success metrics.
- Conduct ongoing research into emerging trends, issues and best practices.
- Conduct periodic audits and prepare reports.
- Answering to all question the employees have related to benefits programs.
Skills
- Proven previous working experience as a Compensation and Benefits Specialist for minimum of 5 years.
- Prior experience in HR practices, operations, and compensation cycle management.
- Certified in Job Evaluation Methodology e.g., HAY, Mercer
- A professional certificate such as CCP, CEBS or PHR certification will be an added advantage.
- Working knowledge of job evaluation and job analysis systems
- Previous experience with organizational psychology and labor market surveys
- Adequate knowledge of current labor rules and regulations
- Familiarity with various types of incentives and benefits
- Extensive knowledge of HRIS and MS Office
- Strong quantitative and analytical skills
- Proficient with Microsoft Office Suite or related software.
- Keep abreast with new trend and best practice in the field.
Education
BS degree in human resources, business administration or finance.
