Compensation Analyst
Job Description Template

Compensation Analyst Job Description Template - Jobsoid

Job Overview

We are looking for an experienced Compensation Analyst to join us. You will help us streamline our remuneration processes and structures. Besides, you will be developing remuneration policies and programs, keeping the company’s financial performance in mind. 

You will be analyzing salary statistics and other relevant compensation data. Preparing remuneration packages based on the employees’ job responsibilities and performance will also be a part of this job role. A complete understanding of the financial market will prove beneficial and help you excel in your duties.

Write to us if your knowledge and analytical skills can help us establish a good financial balance. 

Responsibilities

  • Developing and implementing compensation programs and benefits

  • Designing salary packages for new recruits and those on probation 

  • Performing salary statistics 

  • Determining employee job responsibilities and ascertaining befitting remuneration packages

  • Analyzing the effectiveness of the company’s remuneration policies and programs

  • Contributing to compensation surveys

  • Conducting financial forecasting to help the company manage its financial liabilities

  • Creating and managing remuneration structures

  • Identifying appropriate salary levels

  • Preparing job classification and salary scales

  • Writing and presenting a detailed report on compensation analysis

  • Establishing the company’s financial budget for recruitment purposes

  • Designing perk programs and incentives

  • Satisfying any legal requirements when developing remuneration programs

  • Implementing instruments for job and compensation analysis

  • Researching industry-specific employee benefits

  • Facilitating implementation of retirement and insurance plans

  • Collecting employee feedback on remuneration programs

  • Advising and discussing compensation policies with the management

  • Building employee retention programs

  • Coordinating with external consultants when needed to develop better compensation programs

Requirements

  • Bachelor’s degree in Human Resources, Business Administration or a similar field

  • A CCP, CEBS, or PHR certification is preferred

  • Familiarity with Human Resources laws and best practices

  • Basic understanding of Applicant Tracking Software and databases

  • Know-how of the recruiting process

  • Proficiency in Microsoft Office, particularly in preparing spreadsheets

  • Excellent communication and interpersonal skills

  • Strong research and analytical skills

  • Good organizational and time management skills

  • An eye for detail and the ability to make rational decisions

  • Good administrative skills

  • Highly motivated individual

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