The Compensation Analyst will research job requirements and evaluate job positions to ensure the company is competitive in the areas of salaries and employee benefits. The Compensation Analyst will evaluate our existing compensation packages and establish new compensation packages for new hires, and new positions created. To be effective in this position the Compensation Analyst will grow the hiring and employee retention programs.
Compensation Analyst Responsibilities:
- Oversees the company’s compensation policies and programs.
- Prepares and maintains job descriptions for each position in the organization
- Ensures job descriptions accurately reflect the work being performed by employees.
- 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 to be used in employee negotiations.
- Researches employee benefits in similar industries; based on findings, recommends changes or updates to the company’s existing benefits or policies.
- Works with insurance brokers and investment planners to create competitive, cost-effective benefits packages for the organization; facilitates implementation and enrollment for insurance and retirement plans.
- 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.
- Performs other related duties as assigned.
Compensation Analyst Requirements:
- Bachelor’s degree in Business Administration or Human Resources.
- 3+ years work experience as Compensation Analyst.
- Proficient with MS Office Word, Excel and PowerPoint, and HRIS systems.
- Outstanding people skills.
- Excellent communication skills, both verbal and written.
- Proficient with compensation research and data analysis.
- Strong problem-solving skills.
- Pay Type Salary
- Required Education Bachelor’s Degree
- Noblesville, IN, USA