Compensation Manager Job Description

Human Resources > Compensation Manager

Salary National Average

Low	Medium	High
93390.0000	112510.0000	132190.0000

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Candidate Supply: 87 Job Openings: 80

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Short Description:

A Compensation Manager is a human resources professional specializing in designing, implementing, and managing compensation and benefits programs within an organization. They play a critical role in ensuring fair and competitive compensation practices to attract and retain top talent. Compensation Managers analyze market trends, evaluate job roles, and develop strategies to align compensation and benefits with organizational goals.

Duties / Responsibilities:

Design and implement compensation and benefits programs, including salary structures and bonus plans.
Conduct market research to ensure the organization's compensation practices remain competitive.
Analyze job roles and evaluate internal and external salary benchmarks.
Develop and update policies related to compensation, benefits, and incentives.
Collaborate with HR and management to address employee compensation concerns and inquiries.
Ensure compliance with local, state, and federal regulations regarding compensation.
Oversee the administration of employee benefits, such as health insurance and retirement plans.
Provide guidance on salary negotiation, promotions, and other compensation-related matters.
Monitor trends in compensation and benefits to recommend adjustments to the organization's programs.
Prepare and present reports on compensation metrics and trends to senior management.

Skills / Requirements / Qualifications

Education: Bachelor's degree in human resources, business, or a related field; master's degree often preferred.
Experience: Proven experience in compensation management or a related HR role.
Benefits Administration: In-depth knowledge of compensation structures, benefits administration, and regulatory compliance.
Analytical: Analytical skills to interpret data and market trends for decision-making.
Communication: Strong communication and negotiation skills.
Attention to Detail: Attention to detail in designing and managing compensation programs.
HRIS: Familiarity with HRIS (Human Resources Information System) software.
Discretion: Ability to work with confidential information and maintain discretion.
Labaor Laws: Knowledge of relevant labor laws and regulations.
Certifications: Certification in compensation management (e.g., Certified Compensation Professional) is a plus.

Job Zones

Title: Job Zone Four: Considerable Preparation Needed
Education: Most of these occupations require a four-year bachelor's degree, but some do not.
Related Experience: A considerable amount of work-related skill, knowledge, or experience is needed for these occupations.
Job Training: Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Job Zone Examples: Many of these occupations involve coordinating, supervising, managing, or training others.
Specific Vocational Preparation in years: 2-4 years preparation (7.0 to < 8.0)

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