Compensation and Benefits Manager Job Description
The Compensation and Benefits Manager is a highly recognized employee in the organization. The C&B Manager makes tough decisions and decides about the individual salary adjustments. The C&B Manager is fully responsible for setting and tracking the of the compensation budget in the organization.
The excellent C&B Manager monitors the job market, the modern trends in the compensation and finds the best practice for the implementation in the organization without the major impact on the personnel expenses costs. The manager manages different compensation components as the rise of the costs is manageable and employees are satisfied.
The C&B Manager has the significant influence on the satisfaction of employees and managers. The rigid compensation policies are not modern and the C&B Manager has to manage the compensation policies and procedures with the flexibility while keeping the internal equity and the external competitiveness in mind.
C&B Manager Job Description
Role of C&B Manager
The Compensation and Benefits Manager sets the basic compensation and benefits policies as the organization manages its personnel expenses, internal equity and external competitiveness. The manager decides about the introduction/cancellation of policies and manages the relationship of the C&B department with other HR units/employees.
The manager leads, manages and develops the entire C&B team as the desired skills and competencies are developed. The manager is involved in other HR processes as the entire organization feels benefits from coordinated HR processes and procedures.
The C&B managers build internal and external networks as the compensation decisions are understood and have the support across the organization. The manager works closely with the top management, supporting decisions and providing the evidence for discussions within business units.
Key Responsibilities of C&B Manager
- Manages, leads and develops the C&B Team
- Develops the successor (the high potential C&B Specialist)
- Builds and maintain the positive and influencing relationship with the executive management
- Acts as the positive team member of the HR Management Team
- Designs the set of different compensation and benefits policies
- Designs the basic compensation structures in the organization (grading system, job evaluation system, job description policy, promotion policy, etc) aligned with the corporate culture and the corporate values
- Leads different HR Projects (not just projects from the compensation and benefits area)
- Coordinates compensation processes like the salary planning, bonus planning and incentive schemes development
- Approves exceptions in the compensation of the individual employees
- Trains HR Business Partners and line managers in the compensation area (pay-mix training, etc)
- Represents the organization at different HR conferences
- Strong and proven analytical skills
- Excellent MS Office skills (MS Excel, MS PowerPoint)
- Excellent Communication skills
- Networking and Influencing skills
- Strong Negotiation skills
- Strong Time Management skills
- Self-management skills
- Ability to work under pressure and tough deadlines
- Team Player
The compensation and benefits manager usually continues as the HR Director or the HR Business Partner for the Sales/Operations business unit.