Compensation & Benefits Specialist
EVANTAGE HR PTE. LTD.
Job Summary: The Compensation & Benefits Specialist is responsible for developing, implementing, and administering competitive and compliant compensation and benefits programs that align with the organization's strategic goals and attract, retain, and motivate high-quality employees. This role involves analyzing market data, ensuring legal compliance, and effectively communicating C&B policies to employees and management.
Key Responsibilities:
• Compensation Program Management:
o Design, develop, and implement compensation structures, including salary grades, pay ranges, and incentive plans (e.g., bonuses, commissions).
o Conduct job evaluations and classifications to ensure internal equity and external competitiveness.
o Participate in salary surveys and conduct market research to analyze compensation trends and benchmarks.
o Manage the annual salary review process, including budgeting, analysis, and communication.
o Support the development and administration of performance-based pay programs.
• Benefits Program Administration:
o Administer and manage various employee benefits programs, such as health insurance, retirement plan, life insurance, disability benefits, and paid time off.
o Evaluate existing benefits offerings, analyze their effectiveness and cost-efficiency, and recommend enhancements.
o Liaise with external benefits providers, brokers, and consultants.
o Assist employees with benefits enrollment, inquiries, and claims resolution.
• Policy Development & Compliance:
o Develop, review, and update compensation and benefits policies and procedures to ensure alignment with organizational objectives and legal requirements.
o Ensure compliance with all relevant labor laws, regulations, and industry standards.
o Conduct regular audits of compensation and benefits data and processes to ensure accuracy and compliance.
• Data Analysis & Reporting:
o Analyze compensation and benefits data to identify trends, measure program effectiveness, and provide insights to management.
o Prepare and present reports on compensation and benefits metrics, including costs, participation rates, and market competitiveness.
o Utilize HRIS and other compensation software for data management and reporting.
• Stakeholder Communication & Support:
o Communicate complex compensation and benefits information clearly and effectively to employees at all levels.
o Provide guidance and support to HR Business Partners, managers, and employees on compensation and benefits-related matters.
o Collaborate with other HR functions (e.g., talent acquisition, HRIS) and finance to ensure seamless integration of C&B initiatives.
• Continuous Improvement:
o Stay abreast of emerging trends, best practices, and legislative changes in compensation and benefits.
Identify areas for improvement in C&B processes and programs and implement solutions.
Key Responsibilities:
• Compensation Program Management:
o Design, develop, and implement compensation structures, including salary grades, pay ranges, and incentive plans (e.g., bonuses, commissions).
o Conduct job evaluations and classifications to ensure internal equity and external competitiveness.
o Participate in salary surveys and conduct market research to analyze compensation trends and benchmarks.
o Manage the annual salary review process, including budgeting, analysis, and communication.
o Support the development and administration of performance-based pay programs.
• Benefits Program Administration:
o Administer and manage various employee benefits programs, such as health insurance, retirement plan, life insurance, disability benefits, and paid time off.
o Evaluate existing benefits offerings, analyze their effectiveness and cost-efficiency, and recommend enhancements.
o Liaise with external benefits providers, brokers, and consultants.
o Assist employees with benefits enrollment, inquiries, and claims resolution.
• Policy Development & Compliance:
o Develop, review, and update compensation and benefits policies and procedures to ensure alignment with organizational objectives and legal requirements.
o Ensure compliance with all relevant labor laws, regulations, and industry standards.
o Conduct regular audits of compensation and benefits data and processes to ensure accuracy and compliance.
• Data Analysis & Reporting:
o Analyze compensation and benefits data to identify trends, measure program effectiveness, and provide insights to management.
o Prepare and present reports on compensation and benefits metrics, including costs, participation rates, and market competitiveness.
o Utilize HRIS and other compensation software for data management and reporting.
• Stakeholder Communication & Support:
o Communicate complex compensation and benefits information clearly and effectively to employees at all levels.
o Provide guidance and support to HR Business Partners, managers, and employees on compensation and benefits-related matters.
o Collaborate with other HR functions (e.g., talent acquisition, HRIS) and finance to ensure seamless integration of C&B initiatives.
• Continuous Improvement:
o Stay abreast of emerging trends, best practices, and legislative changes in compensation and benefits.
Identify areas for improvement in C&B processes and programs and implement solutions.
JOB SUMMARY
Compensation & Benefits Specialist
EVANTAGE HR PTE. LTD.
Singapore
8 days ago
N/A
Full-time
Compensation & Benefits Specialist