Benefits and Compensation Strategist

6 days ago


Saint Paul, Minnesota, United States Omtech llc Full time
About the Role

We are seeking an experienced Benefits and Compensation Strategist to join our team at Omtech LLC. This role offers a unique opportunity to design, implement, and manage comprehensive benefits programs that align with the organization's goals and support employee well-being.

Key Responsibilities
  • Benefits Strategy & Program Management:
    • Create and oversee the development of employee benefits programs, including health insurance, retirement plans, wellness initiatives, and other perks.
    • Analyze existing benefits offerings and enhance them to ensure competitiveness, cost-effectiveness, and alignment with employee needs.
    • Negotiate contracts with vendors and evaluate service delivery to optimize value and employee satisfaction.
  • Compliance & Regulatory Oversight:
    • Stay up-to-date on federal, state, and local laws and regulations related to employee benefits and ensure compliance.
    • Oversee reporting and documentation required for compliance with ERISA, ACA, HIPAA, and other applicable regulations.
    • Coordinate benefits audits and ensure adherence to all internal and external reporting requirements.
  • Employee Communication & Education:
    • Develop and execute communication strategies to inform employees about available benefits, including open enrollment, plan changes, and health and wellness resources.
    • Conduct benefits orientation sessions, webinars, and other employee training programs to increase engagement and understanding.
    • Create and maintain benefit-related resources, FAQs, and guides to ensure clear and consistent messaging across the organization.
  • Budget & Cost Management:
    • Develop and manage the benefits budget to ensure that programs are cost-effective and within budget parameters.
    • Track claims experience and benefit utilization trends to assess financial impact and make recommendations for future benefit strategies.
    • Work with finance and other departments to align benefits offerings with overall company goals and financial objectives.
  • Data Analysis & Reporting:
    • Analyze benefits data and employee feedback to evaluate program effectiveness and identify opportunities for improvement.
    • Prepare regular reports on benefits utilization, costs, employee engagement, and other key performance indicators (KPIs).
    • Use data-driven insights to recommend enhancements or adjustments to the benefits programs.
Requirements
  • A bachelor's degree in Human Resources, Business Administration, or a related field.
  • A minimum of 5-7 years of experience in benefits program management, with at least 3 years in a managerial or senior role.
  • Professional certifications such as Certified Employee Benefits Specialist (CEBS), Professional in Human Resources (PHR), or similar certifications preferred.
Compensation and Benefits

The estimated salary for this role is $110,000 - $140,000 per year, depending on experience. Additionally, we offer a comprehensive benefits package, including health insurance, retirement plans, and paid time off.



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