What is a Compensation & Benefit Executive doing? Job description and responsibilities

What does a Compensation & Benefit Executive do?

We are looking for an experienced Compensation & Benefits Executive to join our team and help us develop, implement and manage our employee compensation and benefits plans. The successful candidate will have a strong understanding of labor laws and regulations, as well as a deep knowledge of best practices in compensation and benefits. They must be able to work closely with senior management, HR, payroll and other departments to ensure compliance and maximum efficiency. The ideal candidate should also be able to think strategically, as well as analyze and optimize existing programs. Excellent communication and organizational skills are essential.

Responsibilities of Compensation & Benefit Executive

1. Design, implement and administer compensation and benefit programs that align with the organization’s business objectives.

2. Analyze existing compensation programs and recommend changes to ensure competitiveness.

3. Develop salary structures for new and existing positions.

4. Negotiate salaries and benefits packages with potential new hires.

5. Analyze and monitor benefit costs to ensure that budget objectives are met.

6. Develop, implement and manage employee recognition and incentive programs.

7. Develop and maintain strong relationships with external vendors and brokers.

8. Respond to employee inquiries regarding compensation and benefit programs.

9. Perform in-depth job analysis to determine classifications and job levels.

10. Develop and manage policies and procedures related to compensation and benefits.