Compensation Analyst

Compensation Analyst

Requirements

• Bachelor’s degree in human resources or related field required.
• One to three years of experience as a compensation analyst required.
• 3 – 5 years of Human Resources experience
• Knowledge of labor laws, such as the Fair Labor Standards Act, and other federal laws regulating employee benefits, compensation, compliance, and privacy standards
• Make informed decisions based on data and statistics
• Familiarity with various types of incentives and benefits
• Proficiency with HRIS, Excel, and standard MS Office suite of products
• Strong quantitative and analytical skills
• Excellent Customer Service Skills
• Excellent communication skills both verbally and in writing
• Ability to work with limited supervision
• Must be organized and ability to prioritize work
• Extensive knowledge of quantitative and qualitative research methods
• Excellent organizational and time management skills

Responsibilities

• Prepares and maintains job descriptions for each position in the organization; ensures descriptions accurately reflect the work being performed by incumbents.
• Interviews and surveys employees and managers to gather and document job, organizational, and occupational information including duties, responsibilities, and skills required by each job.
• Assesses jobs and their respective duties to determine classification as exempt or nonexempt and appropriate salary range.
• Benchmarks jobs against survey data and other market intelligence to determine competitive compensation ranges for each position.
• Prepares and maintains job classifications and salary scales.
• Prepares and presents summary reports of job analysis and compensation analysis information.
• Gathers data from market-based compensation surveys; uses spreadsheet and data analysis techniques to assess results and market trends.
• Evaluates and implements job analysis instruments and materials.
• Conducts data and cost analyses.
• Researches’ employee benefits in similar industries; based on findings, recommends changes or updates to the company’s existing benefits or policies.
• Conducts focus groups to collect employee feedback on specific issues or topics related to benefits and compensation.
• Plans and communicates preferred methods and best practices for hiring, training, compensating, and evaluating employees.
• Advises management on applicable state and federal employment regulations, benefits and compensation policies, human resource procedures, and collective agreements.
• Performs other duties as assigned.

Preferred Qualifications

• SHRM-CP or SHRM-SCP preferred.
• CCP Certification preferred.