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Comp and Ben Specialist

The Compensation & Benefits Specialist is an HR professional in charge of managing employee compensation. They are responsible for employee compensations and benefits, compensation databases, and benchmark compensation.
HR Role family: Solution architect
Salary range: $48,000 - 59,000Gross salary range estimation based on US salary benchmark data collected in 2022
Work experience: 3-7 yearsAverage minimum year of (relevant) work experience required for this role.

Key Responsibilities

Develops compensation and benefits programs to improve performance, engagement, and satisfaction of employees
Conduct analysis of compensation and benefits trends in the market to ensure our programs are competitive
Work with HR Business Partners and managers to provide guidance and support on compensation and benefits-related issues
Participate in salary surveys and other benchmarking activities

Skills & Competencies

Analytics Translation
Benefits and Rewards
Commercial Fluency
Compensation
Delivers through technology
Driven Results
Employee Health
Engages People
Organizational Development and Design
Safety and Wellbeing
Solves Problems
Talent and Performance Management

Career paths

Path 1
Path 2
Path 3
Comp and Ben Specialist
Benefits Manager
Shared Services Manager
Shared Services Executive
Comp and Ben Specialist
Benefits Manager
Director Total Rewards
Comp and Ben Specialist
Payroll Team Lead
HR Operations Manager
Shared Services Manager
Head of Employee Experience

Training programs

Certificate Program

Compensation & Benefits

Intermediate | 28 hours

Become a total rewards expert and learn everything you need to create a future-proof C&B strategy.

Certificate Program

People Analytics

Intermediate | 38 hours

Develop a full analytics skill set to lead with data-driven HR

Certificate Program

Digital HR Strategy

Entry-Level | 7 hours

Gain the skills and knowledge you need to create an effective digital HR strategy.

More details & resources

Job Description Template: Comp and Ben Specialist

The C&B Specialist is responsible for designing, developing, and implementing compensation and benefits programs that are competitive and meet the needs of the organization and employees.

Key Responsibilities:

  • Conduct analysis of compensation and benefits trends in the market to ensure our programs are competitive
  • Design and implement compensation and benefits programs that are aligned with the organization's goals and objectives
  • Work with HR Business Partners and managers to provide guidance and support on compensation and benefits-related issues
  • Develop and maintain job descriptions, salary structures, and job evaluation systems
  • Monitor and evaluate the effectiveness of compensation and benefits programs and make recommendations for improvements
  • Ensure compliance with relevant regulations and legislation
  • Provide training and education to managers and employees on compensation and benefits programs
  • Manage the administration of compensation and benefits programs, including payroll processing, benefits enrollment, and reporting
  • Participate in salary surveys and other benchmarking activities
  • Collaborate with the HR team to develop and implement overall HR strategies and initiatives

Key Requirements:

    Bachelor's degree in Human Resources, Business Administration, or related field
  • At least [insert number] years of experience in compensation and benefits administration
  • In-depth knowledge of compensation and benefits practices and principles
  • Strong analytical and problem-solving skills
  • Excellent communication and interpersonal skills
  • Ability to work independently and as part of a team
  • Proficient in Microsoft Office and HR information systems
  • Experience with job analysis, market pricing, and job evaluation methodologies
  • Knowledge of relevant employment laws and regulations

Detailed Responsibilities & Tasks

  • Conduct analysis of compensation and benefits trends in the market to ensure our programs are competitive
  • Design and implement compensation and benefits programs that are aligned with the organization's goals and objectives
  • Work with HR Business Partners and managers to provide guidance and support on compensation and benefits-related issues
  • Develop and maintain job descriptions, salary structures, and job evaluation systems
  • Monitor and evaluate the effectiveness of compensation and benefits programs and make recommendations for improvements
  • Ensure compliance with relevant regulations and legislation
  • Provide training and education to managers and employees on compensation and benefits programs
  • Manage the administration of compensation and benefits programs, including payroll processing, benefits enrollment, and reporting
  • Participate in salary surveys and other benchmarking activities
  • Collaborate with the HR team to develop and implement overall HR strategies and initiatives

Detailed Skills Description

  • Analytical Skills: A Compensation and Benefits Specialist must have strong analytical skills to analyze data and make informed decisions about compensation and benefits programs.
  • Technical Expertise: A thorough understanding of compensation and benefits laws and regulations is critical for success in this role. In addition, proficiency in relevant software tools and platforms is necessary.
  • Communication Skills: Communication skills are essential for a Compensation and Benefits Specialist to effectively communicate complex compensation and benefits information to employees and senior management.
  • Attention to Detail: A Compensation and Benefits Specialist must be detail-oriented to ensure accuracy in managing data, creating reports and analyzing compensation and benefits data.
  • Problem Solving Skills: The ability to identify issues and solve problems related to compensation and benefits is a critical skill for success in this role.
  • Customer Service Skills: A Compensation and Benefits Specialist must have excellent customer service skills to interact with employees and provide exceptional service to them.
  • Project Management Skills: A Compensation and Benefits Specialist must be able to manage multiple projects, prioritize tasks and meet deadlines.
  • Business Acumen: Understanding business objectives and how compensation and benefits programs can support these objectives is crucial for a Compensation and Benefits Specialist.

KPIs for this role

  • Accuracy of salary and benefits data: Ensuring that all salary and benefits data is accurate and up-to-date is critical for the smooth functioning of the organization's compensation and benefits programs.
  • Competitive compensation packages: Designing and implementing competitive compensation packages that attract and retain top talent is a key performance area for a Compensation and Benefits Specialist. This can be measured through metrics such as retention rates, offer acceptance rates, and employee satisfaction surveys.
  • Compliance with legal and regulatory requirements: Staying up-to-date with legal and regulatory requirements related to compensation and benefits, and ensuring that the organization is in compliance with these requirements, is essential for the success of the role.
  • Cost-effectiveness of compensation and benefits programs: Managing compensation and benefits programs in a cost-effective manner is important for the financial health of the organization. Metrics such as total compensation costs as a percentage of revenue or per employee can be used to measure the cost-effectiveness of these programs.
  • Timeliness of reporting: Timely reporting of compensation and benefits data to senior management, finance, and other stakeholders is crucial for decision-making and planning. The ability to generate reports in a timely and accurate manner is therefore a key performance indicator for this role.
  • Effective communication: The ability to communicate effectively with employees, managers, and other stakeholders regarding compensation and benefits programs is important for ensuring that these programs are understood and valued. Metrics such as employee engagement and satisfaction with compensation and benefits can be used to measure the effectiveness of communication efforts.
  • Continuous improvement: A Compensation and Benefits Specialist should be constantly looking for ways to improve compensation and benefits programs, such as through benchmarking against industry standards and best practices. The ability to identify areas for improvement and implement changes is a key performance indicator for this role