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Compensations and Benefits Specialist

3 months ago

Lagos, Nigeria Tati Consults Full time

Job Summary:

The Compensation and Benefits Specialist is responsible for managing and administering the company’s compensation and benefits programs. This role involves evaluating, designing, and implementing competitive and cost-effective compensation and benefits plans that align with the company’s objectives and comply with legal requirements. A key function of this role is sound knowledge in payroll administration to ensure accurate and timely compensation to employees.

Key Responsibilities:

Compensation Management:

  •   Develop and implement compensation strategies that attract, motivate, and retain talent.
  • Conduct regular salary surveys and benchmarking to ensure competitive pay structures.
  • Design and manage job evaluation and classification systems.
  • Provide guidance on compensation issues and make recommendations for salary adjustments, promotions, and market adjustments.

Benefits Administration:

  • Oversee the administration of employee benefits programs, including health insurance, retirement plans, wellness programs, and other employee perks.
  • Evaluate and compare existing benefits with those of other employers by analyzing other plans, surveys, and other sources of information.
  • Ensure compliance with legal and regulatory requirements related to employee benefits.
  • Coordinate and manage annual benefits enrollment and communication processes.

Payroll Administration:

  • Manage and oversee the payroll process to ensure accuracy and compliance with company policies and legal regulations.
  • Ensure timely and accurate processing of payroll, including salaries, benefits, taxes, and other deductions.
  • Address and resolve payroll-related issues and discrepancies.
  • Maintain payroll records and generate reports as required.

Policy Development:

  • Develop, review, and update compensation and benefits policies and procedures to ensure compliance and efficiency.
  • Communicate policies and procedures to employees and ensure understanding and adherence.

Data Analysis and Reporting:

  • Analyze compensation and benefits data to identify trends, issues, and opportunities for improvement.
  • Prepare and present reports on compensation and benefits metrics to management.

Qualifications:

  • Bachelor’s degree in Human Resources, Business Administration, Finance, or a related field.
  • Proven experience as a Compensation and Benefits Specialist or similar role.
  • Strong knowledge of compensation and benefits principles, best practices, payroll administration, and regulatory requirements.
  • Proficiency in HRIS and MS Office especially Excel.
  • Excellent analytical, problem-solving, and decision-making skills.
  • Strong communication and interpersonal skills.
  • Ability to handle sensitive and confidential information with discretion.

Preferred Qualifications:

  • A degree in a related field.
  • Professional certification in compensation and benefits e.g., CCP, CEBS.
  • Experience with compensation and benefits benchmarking and surveys.