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Sr. Compensation and Benefits Analyst in Pelican Bay, TX at Staffing Now

Date Posted: 11/4/2019

Job Snapshot

Job Description

Senior Compensation & Benefits Analyst

Reports To: Director, Human Resources

Scope: The Senior Compensation & Benefits Analyst designs, develops and recommends new or modified Benefits, Compensation and Recognition programs and plans and administers existing plans to attract, motivate and engage a productive workforce. Develops cost control procedures to assure comprehensive coverage at a competitive cost to the company and employee.

Responsibilities & Tasks:

  • Lead, design, plan, implement, administer activities in the areas of Employee Benefits, Base and Incentive Pay Compensation and Recognition.
  • Maintain company's competitive position in labor market for Benefits, Compensation, and Rewards.
  • Serve as the company representative to insurance brokers and 3rd party provider representatives.
  • Keep apprised of federal, state, and local compensation and benefits laws and regulations in order to ensure Company compliance.
  • Present new approaches, policies and procedures to effect continual improvements in efficiency of the organization and enhancement of services provided.
  • Participate in and formulate recommendations in the development of benefits and compensation objectives considering such factors as corporate growth objectives, financial resources and restraints, legal considerations and competitive market positions.
  • Monitor, analyze and research trends on benefit programs including utilization patterns, cost trends, and comparative studies; compile information and analyze benefit plans. Serve as liaison between Company and benefit plan providers/third party administrators.
  • Evaluate and compare existing company benefits with those of other employers by analyzing other plans, surveys, and other sources of information. Plans, develops, and/or participates in area and industry surveys to ensure corporate benefit objectives are achieved. Develops specific recommendations of benefit plans and potential changes based on trend analysis, current literature, and/consultant recommendation for review by management. Prepare materials for, and serve on the contract negotiation team between Company and health care vendors.
  • Evaluates quotes and makes recommendations to management. Develops company cost information for new plans and makes recommendations to management concerning sharing of cost between employer and employee.
  • Prepare, revise and reissue announcement material and other media for communicating new or existing plans to employees. Conducts employee meetings and arranges for enrollment of employees in plans. Prepares annual enrollment and employee orientation benefits material.
  • Manage the 3rd party consultants and administrators for the following plans: medical, prescription, dental, vision, life and disability, HSA/FSA, Leave of Absence/FML, savings and retirement plans, workers compensation plans, along with voluntary plans and ensures consistency with plan documents and provider contracts.
  • Manage the relationship with the 3rd party Benefits Administration vendor.
  • Assure company compliance with provisions of Employee Retirement Income Security Act and coordinate with providers for Section 125 plan, retirement plan actuaries and savings plan administrator to ensure compliance with government guidelines and provide necessary information for compliance testing. Complete preparation of reports, applications and filings required by law to be filed with federal and state agencies. Update contract language as appropriate
  • Ensures payment of monthly insurance bills.
  • Investigate and resolve problems in benefit plan interpretations as well as recommend corrective action and implement procedural changes when necessary.
  • Administer Company Defined Benefit Retirement Plan; coordinate with actuaries and trustee for pension benefit administration.
  • Research and analyze information to develop and present recommendations for merit and other compensation funding.
  • Lead annual review and update of compensation system including salary structures, system enhancements and salary guidelines.
  • Evaluate, update and approve job descriptions and determine proper grading. Investigate and recommend resolution on classification questions and FLSA exemptions.
  • Participate in a variety of compensation surveys to collect and analyze information on the Company's competitive position and ensure corporate compensation objectives are achieved. Prepare recommendations and special studies on subjects such as incentive compensation, bonus plans, and similar programs and present to executive management.
  • Manage the total compensation function. Plans, develops and implements new and revised compensation programs, policies, procedures consistent with compensation trends, in order to be responsive to the company's goals, cost parameters, and competitive practices and monitor the effectiveness of existing plans, policies, guidelines and procedures. Assures thorough audits and reports that company compensation programs are consistently administered in compliance with company policies and government regulations.
  • Provide advice to HR and management staff on pay decisions, policy and guideline interpretation and job evaluation including the design of creative solutions to specific compensation-related programs.
  • Manage the administration of direct compensation (executive, exempt and nonexempt cash compensation programs).
  • Manage the incentive compensation plans including recommendations for new plans, improvements to existing plans, administration and on-going communication and continuous improvements.
  • Develop and implement rewards and recognition programs.

Knowledge, Skills, Abilities Required:

  • Requires broad working and practical knowledge of a wide variety of benefit and compensation techniques, theories, practices, methods, programs and plans including regulatory requirements, insurance plans, and similar complex subjects.
  • Possess a high level of professionalism; interact with staff at all levels within the organization and ability to maintain confidentiality.
  • Excellent interpersonal, verbal and written communication skills.
  • Be a self-starter and able to work with little supervision.
  • Strong knowledge of HR systems.
  • Proficient in Microsoft Excel.
  • Manufacturing or union experience desired.

Minimum Qualifications:

  • Bachelor's degree required. Masters's degree preferred.
  • 5-10 years of functional compensation and benefits experience.
  • 1-3 years of management experience preferred but not required.