9 general skills or competencies (Job family competencies) for Compensation Analyst III
Skill definition-Designing, managing, assessing and implementing compensation plan to attract and retain talent.
Level 1 Behaviors
(General Familiarity)
Explains the importance and advantages of benefits program.
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Level 2 Behaviors
(Light Experience)
Documents and maintain administrative procedure manuals for managing the benefit program.
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Level 3 Behaviors
(Moderate Experience)
Formulates a benefits plan program based on the results of employee needs assessment and gap analysis.
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Level 4 Behaviors
(Extensive Experience)
Leads the design and implementation of the company’s benefit programs and activities.
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Level 5 Behaviors
(Mastery)
Develops communication strategies to ensure benefit programs are fully understood by stakeholders.
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Skill definition-Managing and determining the salary, bonuses, and benefits to ensure competitive and appropriate compensation for employees.
Level 1 Behaviors
(General Familiarity)
Lists the best practices for managing compensation plans in our organization.
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Level 2 Behaviors
(Light Experience)
Prepares reports and statistical information to identify potential issues in compensation management.
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Level 3 Behaviors
(Moderate Experience)
Utilizes data tools to manipulate data sets for incentive compensation plan design and management.
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Level 4 Behaviors
(Extensive Experience)
Oversees the implementation of new techniques to ensure continuous improvement in compensation processes.
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Level 5 Behaviors
(Mastery)
Keeps updated on all state laws and regulations that Impact compensation and benefits management.
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10 soft skills or competencies (core competencies) for Compensation Analyst III
Skill definition-Applying specific policies, tools and practices to plan and prepare projected revenues, expenses, cash flows, and capital expenditures.
Level 1 Behaviors
(General Familiarity)
Explains the importance of budget reporting and forecasting in our workplace.
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Level 2 Behaviors
(Light Experience)
Supplies supporting information and justification for major line items.
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Level 3 Behaviors
(Moderate Experience)
Utilizes software tools and applications to forecast our annual budget accurately.
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Level 4 Behaviors
(Extensive Experience)
Provides in-depth training to our entire organization about the zero based budgeting methodology.
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Level 5 Behaviors
(Mastery)
Introduces technologies, policies, and programs for more effective budget management.
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Skill definition-Gathering, organizing, and analyzing information to identify the root cause of organizational problems and develop alternative solutions accordingly.
Level 1 Behaviors
(General Familiarity)
Lists skills, traits, and characteristics of analytical thinkers.
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Level 2 Behaviors
(Light Experience)
Illustrates logical relationships among diverse entities.
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Level 3 Behaviors
(Moderate Experience)
Investigates analytical thinking tools and incorporates them accordingly.
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Level 4 Behaviors
(Extensive Experience)
Guides others to analyze all factors and parameters that need to be considered.
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Level 5 Behaviors
(Mastery)
Investigates industry trends and adjusts our business's strategy accordingly.
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Summary of Compensation Analyst III skills and competencies
There are 0 hard skills for Compensation Analyst III.
9 general skills for Compensation Analyst III, Benefit Programs, Compensation Management, Data Gathering and Analysis, etc.
10 soft skills for Compensation Analyst III, Budgeting, Analytical Thinking, Attention to Detail, etc.
While the list totals 19 distinct skills, it's important to note that not all are required to be mastered to the same degree. Some skills may only need a basic understanding, whereas others demand a higher level of expertise.
For instance, as a Compensation Analyst III, he or she needs to be skilled in Budgeting, be skilled in Analytical Thinking, and be skilled in Attention to Detail.