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Job Description
The overall responsibility of compensation and benefits specialist is to manage an organization's compensation and rewards program. ... As such, the strategic role fulfilled by these HR professionals involves bench marking, ensuring current documentation, and strategics compensation and benefits in relation with performance.
- Researching compensation and benefits policies and plans
- Ensuring compensation and benefits plans are cost-effective and competitive
- Monitoring and researching compensation and benefits trends
- Comparing benefits and compensation plans, job classifications, and salaries through data and cost analyses
- Designing reports and recommendations based on research and analysis for senior executive team
- Preparing and updating job descriptions and occupational classifications
- Ensuring company is compliant with state and federal laws
- Collaborating with outside vendors, such as investment brokers and benefits vendors
Job duties include:
Compensation
- Assessing the organization’s pay structure
- Researching compensation trends and reviewing compensation surveys
- Evaluating compensation policies
- Ensuring that the pay practices comply with state and federal laws and regulations
Benefits
- Administering the organization’s benefits programs (e.g., retirement plans, leave policies, wellness programs, insurance policies, etc.)
- Researching and analyzing benefits plans, programs, and policies
- Making recommendations based on data analyses
- Monitoring government regulations, legislation, and benefits trends
- Working with insurance brokers and benefits careers
- Managing the enrollment, renewal, and distribution processes
Job Analysis
- Writing and revising job descriptions
- Determining position classifications
- Preparing and updating salary scales
- Making recommendations to managers regarding job descriptions, salaries, and classifications
Job Requirements
- Skills related to interpersonal communication: listening, speaking and writing.
- Excellent decision-making skills.
- Critical thinking skills.
- Strong computer skills.
- Excellent written and verbal communication skills.
- Sound judgment.
- Attention to detail.
- Knowledge of labor and employment law, organizational development and best practices.
In addition, employee must practice confidentiality, empathy, integrity and objectivity.
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