Benefits and Payroll Specialist

Job Identification

Purpose Statement:

The HR Benefits and Payroll Specialist is responsible for overseeing and managing the day-to-day operations of the company’s benefits and payroll functions. This role ensures the efficient administration of compensation, benefits, and payroll programs while ensuring compliance with legal requirements. The HR Benefits and Payroll Specialist works to provide competitive benefits offerings, accurate and timely payroll processing, and a seamless employee experience in line with the organization’s values and goals.

Essential Duties:

• Benefits Program Management
  • Oversee the design, implementation, and day-to-day administration of employee benefits programs, including health insurance, retirement plans, wellness initiatives, and other perks.
  • Ensure all benefits programs are competitive, cost-effective, and meet employee needs while aligning with organizational goals.
• Payroll Administration
  • Manage the accurate and timely processing of payroll for all employees, ensuring compliance with company policies and local, state, and federal laws.
  • Oversee all aspects of payroll, including deductions, benefits contributions, tax calculations, and reporting.
  • Address any payroll-related issues or discrepancies in a timely and effective manner.
• Compliance and Regulatory Oversight
  • Ensure that all payroll and benefits programs comply with relevant regulations, including federal, state, and local laws such as FLSA, FMLA, ACA, ERISA, and tax regulations.
  • Stay updated on changes to payroll, compensation, and benefits-related legislation to ensure continued compliance.
• Benefits and Payroll Reporting
  • Prepare and analyze reports related to payroll and benefits, providing insights into cost trends, employee participation, and other key performance indicators.
  • Present regular reports to senior leadership regarding payroll accuracy, benefits program effectiveness, and cost control.
• Employee Communication and Support
  • Serve as the point of contact for employee inquiries regarding benefits, payroll, and related matters.
  • Develop and implement effective communication strategies to ensure that employees understand their benefits options and payroll processes.
• Payroll and Benefits Data Management
  • Maintain accurate and up-to-date employee data in the HRIS and payroll systems.
  • Manage employee enrollment and changes in benefits and payroll records, ensuring data accuracy and confidentiality.
• Vendor and Third-Party Management
  • Manage relationships with external vendors, including benefits providers and payroll service providers, ensuring they meet performance and service expectations.
  • Negotiate contracts with vendors to secure competitive pricing and high-quality service delivery.
• Budgeting and Cost Control
  • Assist in the development and management of the payroll and benefits budget.
  • Identify opportunities for cost savings and process improvements in payroll and benefits administration without sacrificing employee satisfaction or compliance.
• Audit and Reconciliation
  • Perform regular audits of payroll and benefits data to ensure accuracy and compliance with internal policies and external regulations.
  • Conduct reconciliation of benefits accounts, including premiums and claims, and resolve discrepancies promptly.
• Continuous Improvement
  • Continuously assess the efficiency of payroll and benefits processes and make recommendations for improvements.
  • Stay informed about industry best practices and trends in payroll and benefits to optimize programs and enhance employee experience.

Education Requirements:

• Bachelor’s degree in Human Resources, Business Administration, Accounting, or a related field is preferred.
• Certifications in payroll (e.g., Certified Payroll Professional (CPP)) or benefits (e.g., Certified Employee Benefits Specialist (CEBS)) are a plus.

Top 10 Korn Ferry Competencies:

• Drives Results
  • Demonstrates the ability to manage payroll and benefits processes efficiently and deliver results on time and in compliance with organizational and regulatory requirements.
• Strategic Mindset
  • Understands how payroll and benefits programs fit into the broader business strategy and contributes to employee engagement and retention.
• Decision Quality
  • Makes informed decisions based on data and regulatory requirements, ensuring that payroll and benefits decisions are fair, timely, and in line with company policies.
• Building Effective Teams
  • Works collaboratively with HR colleagues and other departments to ensure the effective implementation and execution of payroll and benefits programs.
• Organizational Savvy
  • Navigates complex organizational dynamics, ensuring seamless integration of payroll and benefits functions across the company.
• Global & Cultural Effectiveness
  • Demonstrates sensitivity to diverse employee needs, ensuring benefits offerings are inclusive and culturally appropriate.
• Manages Complexity
  • Handles the complexity of managing multiple payroll cycles, benefits options, and compliance issues while maintaining accuracy and efficiency.
• Change Management
  • Effectively manages changes in payroll systems, benefits programs, or regulations, ensuring smooth transitions for employees and the organization.
• Influence
  • Influences leadership and employees to understand and participate in benefits programs and adheres to payroll policies, improving overall satisfaction with these functions.
• Interpersonal Savvy
  • Builds strong relationships with employees, vendors, and internal teams to foster a positive, collaborative approach to payroll and benefits administration.