A compensation administrator is responsible for processing pay documentation, entering and extracting data, and ensuring timely and accurate payment to employees. They may also handle external inquiries and work with the purchasing team. Accuracy and punctuality are crucial, and they may also handle purchase payments. A compensation manager deals with compensation strategies on a broader scale.
A compensation administrator job usually involves hands-on processing of pay documentation, entering and extracting data, and providing administrative support to a company or organization. Someone in this position typically interfaces with information management systems, inputting and extracting the necessary data to provide compensation in a timely and accurate manner. A compensation administrator may also work with the organization’s purchasing team to ensure that payment is made to contractors or vendors. Additionally, he or she may be responsible for verifying changes that affect payroll. Those working in this position may also handle a number of external inquiries or requests involving individuals who receive compensation from the administrator’s company.
This position usually involves a number of administrative tasks designed to ensure that the company’s workforce receives timely compensation. A compensation administrator’s primary responsibility is to complete a timely and accurate disbursement of pay for those who work for the organization. Before a payment can be issued, a company or organization is expected to comply with many compensatory laws and reporting requirements. The compensation administrator may personally handle these procedures or assign tasks to those who report to him, depending on the size of the organization. Recording changes in the company’s workforce that involve new hires and layoffs is also a typical task for a compensation administrator.
Accurate data entry is always a highly valued attribute in pay dispersion, as workers are likely to be distressed in the event of underpayment. Punctuality in completing the task is also highly valued. This is for several reasons, including maintaining morale among a company’s workforce and preventing the myriad fines that could be levied against a company for failing to remit timely pay to employees. It is for these reasons that a compensation administrator is likely to be recruited or retained based on performance in timely and accurate data entry and extraction.
Sometimes, a compensation administrator is expected to handle purchase payments submitted by vendors. While these types of payments may not necessarily fall under laws that protect and enforce fair labor practices and compensation, the accurate administration of compensation practices is still highly valued. Late or incorrect payments to suppliers can result in the loss of a supplier or even a lawsuit to recover a bad debt. In some companies, the compensation administrator’s time may be leveraged for multiple other roles, as the same skill set may be valuable to the employer in other areas.
A compensation manager deals with a company’s compensation strategies from a broader perspective. Often, their duties involve formulating executive compensation. He or she may oversee the full range of a company’s compensation practices.
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