Compensation Analyst

Core Responsibilities

• Assess job requirements by conducting interviews with experts, analyzing completed questionnaires, and observing job tasks.
• Create and maintain comprehensive job descriptions, qualifications, and evaluation documents.
• Benchmark compensation for new hires to ensure alignment with market standards and internal equity.
• Evaluate and rank positions to ensure fair pay within the organization.
• Perform salary surveys and analyze compensation data to maintain competitive external pay practices.
• Assist in developing and maintaining pay structures, including calculating pay grades and salary ranges.
• Collect and analyze pay data to produce detailed compensation reports.
• Ensure compliance with Federal, State, and local regulations to prevent legal issues and assist others in doing the same.
• Review and align recommended pay raises and incentives with the budget, and notify supervisors of any discrepancies.
• Support and improve the performance evaluation process.
• Advise on strategies for employee retention and severance packages.
• Lead and support HR-related projects, managing the execution, communication, and delivery of key activities.
• Track trends in labor costs and develop or revise the labor cost budget as needed annually.
• Help develop strategies, policies, and documentation related to compensation programs to align with company values.
• Actively participate in ongoing improvement efforts to optimize compensation processes.
• Enhance knowledge of compensation practices through training and technical literature.
• Perform other duties as required.

Required Qualifications and Skills

• Bachelor’s degree in business is required, with a preference for Human Resources.
• Minimum of three years in Human Resources, including at least two years focused on compensation.
• Skilled in Microsoft Office [2007 or newer], with advanced expertise in MS Excel.
• Proven ability to manage projects effectively and meet deadlines consistently.
• Strong verbal, non-verbal, negotiation, and written communication abilities.
• High level of professionalism in interactions with both internal and external stakeholders.
• Excellent problem-solving, analytical, and organizational skills.
• Familiarity with short and long-term strategic development is preferred.