Biotechnology Innovation Organization (BIO) is the world’s largest advocacy association representing member companies, state biotechnology groups, academic and research institutions, and related organizations across the United States and in 30+ countries. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world’s largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world.
The Benefits and Compensation Manager administers BIO’s employee benefits plans, including retirement plans, leave policies, wellness programs, and insurance policies such as health, life, and disability. They will participate in selection of benefit vendors and oversee enrollment, renewal, and delivery of benefits to BIO Staff. They will plan, develop and implements new and revised compensation programs, policies and procedures to align with the company's goals and competitive practices. This position is also responsible for ensuring that company benefits and compensation programs are consistently administered in compliance with internal policies and government regulations to ensure they are current, competitive, and legal.
As the Employee Benefits expert, administers all employee benefit programs such as medical, dental, vision, disability, retirement programs, and executive benefits. Responsible for:
- Employee On-boarding: Provide in-depth benefit presentation for all new hires during the onboarding process. Distributes enrollment materials and determines eligibility.
- Employee Service: Assists employees regarding benefits claim issues and plan changes. Responds to benefits inquiries on plan provisions, benefits enrollments, and status changes.
- Vendor Management: Works with HR benefit partners for escalated support needs, including but not limited to: plan design, claims administration and appeals, COBRA, retirement administration, and HRIS data integrity. Research and recommend outside partners such as brokers and investment managers.
- Employee Education: Prepare meetings designed to help employees obtain information and understand company benefits during Open Enrollment. Coordinates special Employee Retirement Education Sessions with our retirement plan brokers.
- Wellness: Responsible for development and execution of Employee Wellness Program. Establish initiatives and programs that help employees attain optimal health. Organizes wellness events and provides resources for employees.
- Plan Design: Works with brokers to conduct annual benefits review. Conducts research, analyzes plan options, conducts cost analysis, and makes recommendations to HR and Finance leadership and benefits committees. Develops census data and works hand-in-glove with brokers to regularly submit BIO for bid to different insurers. Develops cost control procedures to assure maximum coverage at the least possible cost to company and employee. Recommends long-term benefits goals and strategies.
- Retirement plan administration and compliance: Including 401(k) and 457(b) retirement plans. Includes managing enrollment, reconciliation and fund transfer of employee and employer retirement contributions. Partner with broker to conduct annual plan reviews and communications. Ensure compliance with ERISA, including annual reporting and audits, non-discrimination testing, maintenance of plan documents and summary plan descriptions. Resolve employee or plan issues. Oversee withdrawals and loans.
- Data Integrity: Ensures the accuracy of all benefit enrollments and provide vendors with accurate eligibility information. Updates HRIS database with new and changing information; ensures accuracy and integrity of information. Responsible for employee benefit file maintenance and storage retention requirements.
- Employee Leaves: Effectively interprets FMLA and ADA implications as they relate to leaves of absences/disabilities. Makes recommendations to employee leave policies.
- Employee Termination: Properly record, track and administer the steps needed to comply with COBRA law and appropriately deliver continuation of employee benefits.
- Completes annual reporting and auditing for employee benefits: ACA, 1099, 401K, Pension, Workers Comp, Unemployment, etc.
- Provides benefit support to HR partners (vendors, team members, management).
- Develop in-depth understanding of HRIS and all vendor enrollment systems and websites. Create reports on request.
- Advise on compensation packages and bonus programs that align with the company’s strategic plan and financial objectives while maintaining market and industry competitiveness.
- Ensure salaries and benefits are applied fairly and equitably, including examination of potential disparate applications and impacts. Provides input on market and internal equity adjustments.
- Collects and reports data for industry salary surveys as requested. Incorporates data from salary surveys into current and future compensation packages.
- Monitors annual performance-based merit and bonus submissions for compliance with both compensation and budget constraints.
- Reviews job descriptions, job analyses and classifications and ensures that levels are consistently applied across departments and throughout the organization. Reviews requests for promotions and offers recommendations on compensation aspect.
- Structure compensation in ways that will yield the highest value for the organization.
- Plans and hosts employee celebration events in conjunction with Culture Committee and Facilities
- Coordinates recognition gifts and communications for employee life events.
- Coordinates the Service Award Program.
General HR duties
- Monitor evolving employment and industry trends to ensure BIO’s offerings are current, competitive, and attractive to candidates and current staff.
- Stays up to date on federal, state, and local compensation laws that affect BIO employees.
- Ensure all required reporting, forms, and posters are up to date and maintained accurately.
- Participates in developing Human Resource department goals, objectives, and systems.
- Provides backup of duties for HR Team.
Required Background, EDUCATION, and skills
Bachelor’s degree in Business, Human Resources, or a related field, plus 5-7 years of professional level experience. Human Resource Management (PHR, SHRM-CP), Certified Employee Benefit Specialist (CEBS), Certified Compensation Professional (CPP), or a combination of certifications highly preferred.
Knowledge of human resource laws and regulations. Knowledge of benefits programs including health insurance, long-term disability programs, workers’ compensation insurance, unemployment regulations, life insurance, 401k & Defined Benefit plans, COBRA, etc. Understanding of human resource policies and programs. Thorough knowledge of state and federal regulations related to benefits administration.
Ability to motivate and influence others. Significant level of diplomacy and trust.
Excellent oral and written communications abilities. Professional image. Excellent judgment and decision-making skills. Solid interpersonal abilities. Excellent presentation and organizational skills. Ability to write clear, concise emails, facilitate meetings and give presentations.