Job Description
Summary:
The Compensation and Benefits Analyst is essential to designing and managing programs that attract, retain, and engage top talent. This role involves analyzing market data , maintaining equitable pay structures, and administering comprehensive benefits programs . Collaborating with Human Resources and company leadership, the Analyst ensures compliance , delivers actionable insights, and supports employee well-being. The ideal candidate is detail-oriented , analytical , and committed to driving competitive and effective compensation and benefits strategies.
Essential Duties:
- Compensation Analysis and Planning:
- Conduct job analyses for new and changing roles, evaluate FLSA compliance, and assign appropriate grades, salary ranges, and bonus levels.
- Perform market research and benchmarking to ensure competitive and industry-aligned compensation packages.
- Analyze compensation data to support salary structures, pay adjustments, and incentive programs.
- Participate in salary surveys and analyze results to inform compensation strategies.
- Manage the merit increase process including system set up, management training and support as well as reporting and data analysis.
- Conduct regular pay equity analyses and address potential disparities.
- Collaborate with managers, HR Business Partners, and Talent Acquisition to develop compensation recommendations.
- Benefits Management: Assist in the administration and analysis of employee benefits programs, including medical, dental, vision, voluntary offerings, 401k, and wellness initiatives under the Wellness Works program umbrella with the goal of ensuring employees understand and utilize the benefits available.
- Support the open enrollment process, including audits, employee education, and communication efforts.
- Review, audit, and ensure payment of benefits-related invoices, collaborating with other internal departments as needed.
- Partner with the leave administrator to manage benefits billing for employees on leave, ensuring accurate and timely processing.
- Support employee well-being initiatives and educational efforts in partnership with the Compensation and Benefits Manager.
- Ensure compliance with all relevant regulations and reporting requirements for benefits programs.
- Data Analysis and Reporting: Compile, analyze, and interpret data to identify trends and areas for improvement in compensation and benefits programs.
- Prepare reports and presentations for senior management and HR leadership to share insights and recommendations.
- Compliance and Governance: Stay current with compensation and benefit related laws and regulations to maintain compliance in compensation and benefits practices.
- Support audits and assessments related to compensation and benefits programs.
Additional Duties: Tasks or duties not outlined in this job description may be required to contribute to the organization's success and efficiency.
Competencies:
- Analytical Thinking (p): Demonstrates the ability to analyze complex data, recognize patterns, and provide insightful solutions, enhancing decision-making processes.
- Attention to Detail (f): Ensures accuracy and completeness in executing tasks, recognizing and correcting errors.
- Interpersonal Skills/Teamwork (f): Foster a collaborative work environment by effectively working with team members across different functions, showing respect for diverse opinions. Contribute to positive team dynamics through reliability and supportive actions, aimed at achieving collective goals.
- Presentation Skills (f): Develop and deliver straightforward presentations that clearly communicate topics to an audience.
- Strategic Mindset (f): Understand and support the implementation of strategic plans, recognizing how daily tasks align with organizational goals.
- Time Management and Organization (f): Demonstrate effective task organization and time management skills, prioritizing responsibilities to meet deadlines and adjust to changing priorities, ensuring high productivity and adherence to commitments.
Qualifications:
Reasonable accommodation may be arranged to facilitate individuals with disabilities in fulfilling the essential duties of this role.
- Education and/or Experience: Bachelor’s degree in Human Resources, Business Administration, Finance, or a related field; Master’s degree or relevant certification (e.g., Certified Compensation Professional) is a plus.
- Minimum of 3 years of experience as a Compensation and Benefits Analyst or in a similar role.
- Strong understanding of compensation strategies, benefits programs, and HR best practices.
- Proficiency in HRIS and compensation software for data analysis and management.
- Knowledge of labor laws, regulations, and compliance requirements.
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