Manage compensation programs in establishments.
What does a Compensation Manager do?
Manages compensation program in establishment: Directs development and application of techniques of job analysis, job descriptions, evaluations, grading, and pricing in order to determine and record job factors and to determine and convert relative job worth into monetary values to be administered according to pay-scale guidelines and policy formulated by DIRECTOR, INDUSTRIAL RELATIONS. Analyzes company compensation policies, government regulations concerning payment of minimum wages and overtime pay, prevailing rates in similar organizations and industries, and agreements with labor unions, in order to comply with legal requirements and to establish competitive rates designed to attract, retain, and motivate employees. Recommends compensation adjustments according to findings, utilizing knowledge of prevailing rates of straight-time pay, types of wage incentive systems, and special compensation programs for professional, technical, sales, supervisory, managerial, and executive personnel. Approves merit increases permitted within budgetary limits and according to pay policies. Duties may also include administration of employee benefits program [MANAGER, BENEFITS].