Job Description of Compensation and Benefits Manager
We are looking for the right candidate to fit in the role of compensation and benefits manager with relevant experience. As a compensation and benefits manager you will be responsible for overlooking ‘employee pay satisfaction as a metric. You will be developing, standardizing, modifying and creating initiatives and strategies so we stay competitive within the market.
You will regularly be conducting an analysis of internal and external information, presenting to the management for brainstorming and, if all goes well, implementing. A majority of your time will be spent developing incentive programs and the ongoing administration of performance reviews, by the department.
You are expected to have a knack for project management skills as you will be the centre point of communication and decisions in regards to this subject. You will also partner with every department that has a say in our workplace happiness – from operations to finance till legal; in regards to compensation-related matters.
- Research on local/country-wide salary by city and industry
- Benchmark current payscale to competitors on a proactive basis
- Plan and execute mid-year and off-cycle merit plans and benefits according to contract
- Strategize new implementations in the payroll and merit for all employees or a segment
- Act as a resource to employees encouraging conversation during on-boarding and after
- Ability to influence, partner up and gain traction from design till delivering a full-fledged program.
- Ensure compliance is maintained for pay and benefits on a federal and state level.
- Awareness about local/regional practices and legal requirements associated with pay and benefits
- 3+ years of experience in localized compensation labour laws.
- Extremely strong Excel skills with knowledge of V-Lookups and Pivot tables
- Attention to detail and a knack for theorizing based on the information given
- Experience working in an HRMS enabled environment
Sample Compensation and Benefits Manager Job Descriptions
#1 Compensation & Benefits Manager – FIS Company
Company Name: FIS Company
Location: Gurgaon, Haryana, India
Are you curious, motivated, and forward-thinking? At FIS, you’ll have the opportunity to work on some of the most challenging and relevant issues in financial services and technology. Our talented people empower us, and we believe in being part of a team that is open, collaborative, entrepreneurial, passionate and above all fun.
About the team
It’s an amazing opportunity to join a talented team of innovative and committed folks doing interesting work at the world’s largest global provider dedicated to financial technology solutions!
What you will be doing
- You will conduct analyses of jobs, salaries, and incentives to evaluate internal equality, external competitiveness, and legal compliance of the organization’s pay practices. Make recommendations regarding salary grades or market rates for specific jobs. Assist in the development of incentive programs and the administration of performance review or merit-rating programs. Review salary increases for compliance with organization policy and budget. Assists in the implementation and delivery of various Compensation and HR projects including performance management, monthly reporting, etc.
- Assists in implementing and administering compensation and incentive programs across the organization and participates in salary surveys to maintain current competitive data, summarizing analysis results.
- Creates job descriptions and maintains a job description database. Researches collect and analyze data to determine appropriate grade level and title for proposed new jobs and re-evaluations of current jobs.
- Assists in market analyses to identify competitive practices and trends in specific geographic areas where FIS has a significant presence.
- May provide support to HRIS (Human Resources Information System) team in the compilation, analysis, and delivery of reports.
What you bring:
- 4+yrs of experience in C&B and fair knowledge of India compensation market and labour laws.
- Excellent knowledge in providing analysis on base salary, short and long-term incentives, reward and recognition programs, benchmarking and survey analysis, job evaluation, and job pricing
- Conducted analyses of jobs, salaries, and incentives to evaluate internal equity, external competitiveness, and legal compliance of the organization’s pay practices
- Strong Excel skills required; prefer the ability to perform V-lookups, create pivot tables and databases, formulate cells within spreadsheets, etc.
- Attention to detail, analytical/reasoning, interpersonal, organizational and problem-solving skills
Added bonus if you have
- Basic knowledge of HR policies and procedures as well as labour laws regarding employment & Compensation practices
- Basic knowledge of HRIS system – preferably Workday
What we offer you
- A multifaceted job with a high degree of responsibility and a broad spectrum of opportunities
- A broad range of professional education and personal development possibilities – FIS is your final career step!
- A competitive salary and benefits
- A variety of career development tools, resources, and opportunities
#2 EMEA Compensation & Benefits Manager – CBRE Company
Company Name: CBRE Company
Location: London, GB
The EMEA Advisory Services Total Rewards team operates within a matrix environment as a centre of excellence with responsibility for the design and strategy of total rewards for the EMEA Advisory Services business segment and partnering with the Global Total Rewards team to apply the global strategy on a local level.
This role will support the leadership of the EMEA Advisory Services Total Rewards team, reporting to the Head of Total Rewards, Advisory Services APAC/EMEA.
The role will be responsible for the design and delivery of solution-based total rewards that leverage the ROI and advance company strategies. The role will have an EMEA focus, and is a core member of the broader APAC/EMEA Total Rewards team, expected to think broadly and support the design, development, implementation and application of both cross-regional and EMEA specific programs.
- Develop and manage total rewards plans, policies and structures that support and advance CBRE’s business and total rewards strategy, which are competitive, cost-effective, legally compliant and leading edge where appropriate
- Consult, advise and influence senior leaders on total rewards strategies and solutions that support business success and key Human Resources goals
- Define, manage and support total rewards administration solutions and processes to ensure effective, efficient and accurate program application
- Select and manage external partnerships as required to engage in the development of, and/or delivery of total rewards. Partnerships should be evaluated based on their capabilities, performance and costs. Ensure provider relationships yield high value for investment
- Support the harmonisation and optimisation of global total rewards programs
- Effectively partner with Communications, Talent, Field HR, HR Operations and HRIS teams to improve perception, understanding and application of total rewards plans, policies and processes
- Support growth through strategic transactions including acquisitions, “green field” and divestitures ensuring value-based decision making through due diligence
- Drive a solution building approach within the team through interpretative data analysis
- Substantial experience within broad-based Total Rewards or Compensation and Benefits role, in a multinational organisation. Experience with US-based organisations is preferred
- Management experience
- Highly developed commercial acumen with strong capability to market and position Total Rewards strategies and programs
- Demonstrable experience in serving in an “internal consultant” role
- High level of competence in data analysis
- Demonstrable experience in project management
- Ability to deliver communication message to different levels within the organisation
- Experience in working with and influencing executive level associates
- Degree in HR or related discipline is preferred
#3 Group Compensation & Benefits Manager – Eurofins
The Group Compensation & Benefits Manager is responsible for providing direction, guidance, and expertise on key compensation and benefits matters for the Group, and collaborate with Finance, HR and Business Leaders worldwide to ensure that compensation and benefits programs align with Group strategy and key business initiatives.
This role encompasses 4 key areas: annual review process, long-term incentives (LTIs), HR system (HCM), and guidelines/policies to ensure optimum compensation and benefits.
Annual Review: manage the process, for Key Employees and Leaders at Eurofins (ca. 2000 people across the world), including recommendations on salary guidelines, communications with leaders and top management on the overall process, verification of key metrics for bonus calculation, production of KPIs on various elements (fixed, variable, discretionary, etc.), management of the tools, templates and deliverables in a comprehensive and coherent Performance Management framework that should guarantee transparency and fairness on compensation packages changes as well as provide important information on career and mobility wishes and development needs.
Long-term incentives: establish clear policies to award LTIs, manage the administrative process with the custodian and the LTI electronic platform provider, ensure smooth communication and controls with recipients and leaders, prepare ad-hoc analyses as requested by the Remuneration Committee and top management HCM system: select, deploy and manage an HCM system to replace the various components and systems used today in the Group, in order to properly manage the annual review system, LTIs, careers and potential development needs of the key talents of the Group (ca. 5000 people) in line with the needs of the HR department and leaders.
Guidelines & policies:
- Establish and manage clear guidelines and policies on compensation & benefits matters, benchmarking market and peers practices, to ensure that the Group proposes adequate and attractive schemes to its core population of talents, advise leaders and the Remuneration Committee on these matters, including the communication of such elements to the relevant population across the Group.
- More generally, collaborate on a variety of projects in relation to your scope; review processes and propose improvements/optimizations in your scope; develop, recommend and administer approved policies and procedures in your scope.
- Manage and develop the team within your scope.
- Qualifications – Master of Human Resources / Audit / Finance / Accounting /Economics
- 8 to 10+ years’ experience of which at least 5 in Compensation and Benefits in a complex, fast-moving, organization
- Experience in deploying an HR system is a plus
- Strong analytical skills, including financial model building in order to manipulate large amounts of complex data, analyzing, interpreting, and producing recommendations to support higher decision making
- Accuracy, attention to detail and strong audit skills
- Ability to work effectively at both strategic and operational levels
- Ability to manage and participate in multiple projects, priorities, manage timelines and escalate issues as needed
- Capability to set up compensation and benefits policies from scratch in an international environment with sophisticated compensation requirements.
- Strong and confident communicator with the ability to influence others
- Proven management and communication skills
- Decision-making skills and pragmatism
- Project management and execution skills
In a fast-growing group, successful leaders are frequently being offered increased areas of responsibility (subject to geographic mobility).