Benefits Manager
1 week ago
**Benefits Manager**
**Hybrid work schedule**
**Job Summary**:
As a Benefits Manager you will play a pivotal role in designing, implementing, and managing our comprehensive employee benefits programs. Reporting to the Human Resources Director, you will collaborate with cross-functional teams to develop and administer benefits strategies that attract, retain, and motivate our diverse workforce. Your expertise will contribute to creating a competitive benefits package that aligns with organizational objectives and complies with legal requirements across multiple jurisdictions.
**Key Responsibilities**:
**Benefits Strategy Development**:
- Develop and execute a strategic benefits plan aligned with the company's overall objectives and budgetary constraints.
- Continuously evaluate market trends, benchmark against industry standards, and recommend enhancements to our benefits offerings.
**Benefits Administration**:
- Oversee the day-to-day administration of employee benefits programs, including health insurance, retirement plans, wellness initiatives, and other perks.
- Ensure accurate record-keeping, timely enrollment processes, and seamless communication of benefits information to employees.
**Vendor Management**:
- Serve as the primary liaison with benefit vendors, brokers, and consultants.
- Negotiate contracts, monitor service levels, and evaluate vendor performance to optimize the value and effectiveness of our benefits programs.
**Compliance and Risk Management**:
- Stay abreast of federal, state, and local regulations governing employee benefits, such as ERISA, ACA, FMLA, and HIPAA.
- Ensure compliance with reporting requirements, conduct audits, and mitigate risks associated with benefits administration.
**Employee Education and Communication**:
- Develop educational materials, presentations, and online resources to help employees understand their benefits options and make informed decisions.
- Conduct regular workshops, webinars, and one-on-one consultations to address employee inquiries and promote wellness initiatives.
**Data Analysis and Reporting**:
- Utilize HRIS and other data management tools to analyze trends, track utilization rates, and generate reports on the cost-effectiveness of our benefits programs.
- Use insights gained to recommend adjustments and improvements as needed.
**401K Management**:
- Manage the company's 401K retirement plan, including vendor selection, plan design, and employee education.
- Collaborate with finance and investment professionals to monitor plan performance, optimize investment options, and ensure compliance with ERISA and other regulatory requirements.
**Annual Bonuses**:
- Coordinate the administration of annual bonus programs, including eligibility criteria, payout calculations, and communication of bonus awards to employees.
- Partner with finance and business leaders to align bonus structures with performance objectives and financial goals.
**Annual Merit Increases**:
- Lead the annual merit increase process, including budget planning, merit guideline development, and salary review cycles.
- Provide guidance to managers on compensation recommendations, salary adjustments, and performance-based rewards to ensure fair and competitive compensation practices.
**Compensation Recommendations**:
- Conduct market research and analysis to benchmark employee compensation against industry peers and market trends.
- Develop compensation recommendations and salary structures to attract and retain top talent while ensuring internal equity and pay fairness.
**Special Projects and Initiatives**:
- Lead or participate in cross-functional projects related to benefits redesign, mergers and acquisitions, system implementations, and other strategic initiatives.
- Contribute to a culture of continuous improvement and innovation within the HR function.
**The qualifications you must have**:
- Bachelor's degree in human resources, Business Administration, or related field (Master's degree preferred).
- 5+ years of progressive experience in benefits administration, preferably in a global or multi-state environment.
- Thorough understanding of employee benefits laws, regulations, and compliance requirements.
- Strong analytical skills with the ability to interpret data and make data-driven recommendations.
- Excellent communication, negotiation, and interpersonal skills.
- Proficiency in HRIS and benefits administration platforms.
- Certified Employee Benefits Specialist (CEBS) or similar certification is a plus.
- **Benefits**:
- Competitive salary commensurate with experience.
- Comprehensive health, dental, and vision insurance plans.
- Retirement savings plan with employer match.
- Paid time off and company holidays.
- Employee assistance program and wellness initiatives.
- Professional development opportunities.
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