Director of Compensation and Benefits
The Director of Compensation is responsible for directing the compensation and benefits functions for all company operations. Supervises staff that develops, recommends, and installs new or modified benefit plans. Plans, develops and implements new and revised compensation programs, policies, procedures, in order to be responsive to the company's goals and competitive practices. As needed, provides special guidance and assistance to all locations on various employee compensation and benefit plans. Surveys industry and/or community to determine company's competitive position in employee compensation. Develops company benefits budget and oversees cost control procedures to assure maximum coverage at the least possible cost to company and employee. Assures thorough audits, reports and personal contact that company benefit and compensation programs are consistently administered in compliance with company policies and government regulations.
DUTIES AND RESPONSIBILITIES:
- Monitors the effectiveness of existing compensation and benefit policies, guidelines and procedures recommends plan revisions as well as new plans which are cost effective and consistent with compensation and benefit trends and corporate objectives; coordinates implementation and provides guidance to corporate staff. Develops company cost information for new benefit plans and makes recommendations to management concerning sharing of cost between employer and employee.
- Evaluates and compares existing company compensation and 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. Analyzes results of surveys and develops specific recommendations for review by management.
- Provides advice to corporate management on pay decisions, policy and guideline interpretation and job evaluation including the design of creative solutions to specific compensation-related programs.
- Installs approved new plans and revisions by preparing communication materials for employees. Revises and reissues all communications material on benefits from time to time. Advises and counsels management and employees on existing benefits.