Compensation manager Job Description
Compensation manager Job Description Template
A compensation manager is responsible for designing, implementing and managing an organization's compensation and benefits programs. They ensure that the programs are competitive, fair and aligned with the company's goals. The role requires strong analytical skills, knowledge of legal regulations and excellent communication skills.
Responsibilities:
- Develop and implement compensation strategies that align with the company's goals and objectives
- Analyze and evaluate job positions to determine appropriate salary levels and job classifications
- Ensure compliance with federal, state, and local laws and regulations related to compensation and benefits
- Manage the administration of employee benefits programs such as health, dental, vision, and retirement plans
- Conduct market research and benchmark analysis to ensure the company's compensation packages remain competitive
- Collaborate with HR and finance teams to develop and manage the compensation budget
- Provide guidance and support to managers and employees on compensation-related matters
- Prepare and present reports and recommendations on compensation and benefits to senior leadership
Requirements:
- Bachelor's or Master's degree in human resources, business administration, accounting or related field
- Minimum 5 years of experience in compensation and benefits management
- Knowledge of current compensation and benefit trends, practices, and regulations
- Strong analytical skills and attention to detail to design and implement compensation programs
- Excellent communication and interpersonal skills to collaborate with various departments and stakeholders
- Ability to handle confidential information and maintain data accuracy
- Proficiency in Microsoft Excel and other HRIS software
- Certified Compensation Professional (CCP) designation is a plus.
