Benefits and Compensation Manager

Job Title: Benefits & Compensation Manager

Location: Tulsa, OK

Position Type: Full-Time, Exempt, Hybrid Work Schedule

Position Summary:

The Benefits & Compensation Manager will oversee all aspects of employee benefits and compensation, including the management of the company’s self-insured health plan. This role is responsible for designing, implementing, and managing comprehensive benefits programs that support employee well-being, attract top talent, and align with the company’s financial goals. Additionally, the Benefits & Compensation Manager will over the development and management competitive compensation programs to ensure internal equity and market competitiveness. This role requires a strategic and hands-on approach to managing benefits and compensation, with a particular focus on optimizing cost-effectiveness and ensuring compliance with relevant laws and regulations.

Key Responsibilities:

1. Benefits Administration:

   • Manage the company's self-insured health plan, including regular plan reviews, renewal negotiations, and vendor relationships.
   • Analyze health plan performance, identify cost drivers, and recommend initiatives to optimize health outcomes and cost-efficiency.
   • Oversee the administration of all benefits programs, including health, dental, vision, life insurance, disability, retirement plans, wellness initiatives, and employee assistance programs (EAP).
   • Ensure compliance with all federal, state, and local benefits laws, including ERISA, ACA, HIPAA, COBRA, FMLA, and related regulations.
   • Develop communication strategies and materials to enhance employee understanding and engagement with available benefits.

2. Compensation Management:

   • Oversee a compensation specialist and assist in the management of competitive compensation structures, including base salary, incentive plans, and variable pay programs.
   • Partner with department heads and managers to address compensation needs, resolve discrepancies, and support recruiting efforts with competitive offers.

3. Employee Support and Guidance:

   • Serve as a trusted advisor to employees on benefits and compensation-related questions and issues.
   • Conduct training sessions for employees and managers to promote understanding and utilization of benefits and compensation programs.
   • Provide support during open enrollment, including developing and delivering presentations, assisting employees with enrollment, and handling inquiries.

4. Data Analysis and Reporting:

   • Track, analyze, and report on key metrics related to benefits and compensation, including participation, cost trends, and ROI of wellness initiatives.
   • Provide regular updates and reports to senior management on benefits and compensation performance, costs, and compliance.
   • Partner with HR and finance teams to develop and manage the benefits budget, analyze cost trends, and identify cost-saving opportunities.

5. Vendor and Stakeholder Relations:

   • Manage relationships with benefits vendors, consultants, and brokers to ensure high-quality service and competitive pricing.
   • Collaborate with internal stakeholders, including HR, Finance, and Legal, to ensure alignment of benefits and compensation programs with organizational goals.
   • Lead or participate in regular audits of benefits and compensation processes to ensure compliance and operational excellence.

Qualifications:

• Education: Bachelor’s degree in Human Resources, Business Administration, or a related field. Professional certification (e.g., CCP, CEBS, SHRM-CP, PHR) is a plus.
• Experience: Minimum of 5 years of experience in benefits and compensation management, with at least 2 years overseeing self-insured health plans.
• Knowledge: Strong understanding of benefits compliance, including ERISA, ACA, HIPAA, COBRA, and FMLA, as well as compensation best practices.
• Skills: Excellent analytical, communication, and negotiation skills; proficiency with HRIS systems, data analysis tools, and Microsoft Office Suite.
• Competencies: Strategic thinking, strong problem-solving abilities, attention to detail, and the ability to manage multiple priorities effectively.