What are the responsibilities and job description for the Compensation Specialist position at R+L Global?
Compensation Specialist is responsible for using market data and company/industry knowledge to determine appropriate pay ranges for each position, including incentive pay targets. Conduct position evaluations, job classifications, preparing job descriptions, assessing the budgetary impact of compensation decisions and providing oversight of compliance with regulations and labor laws. In addition, they will administer company incentive programs, including payout calculations and analysis of incentive related metrics and data.
Compensation Specialist responsibilities and essential job functions include, but are not limited to the following:
- Analyze and administer company compensation and incentive programs including payout calculations
- Assist in design of new incentive programs or re-design of existing programs
- Analyze compensation data within the organization and evaluate job position responsibilities to determine classification and salary; documents job analysis
- Manage salary structure creation and maintenance
- Conduct market analysis of pay grades and ranges as needed utilizing nationally recognized and statistically validated salary surveys and comparable data; participates in compensation surveys when applicable
- Researches annual market movement and economic projections to assist with the development of guardrails for the annual compensation review process. Analyzes overall spend from previous year and documents key themes and pertinent points for consideration.
- Collaborates with various departments in the analysis and review of job classification and reclassification requests.
- Develops and writes job descriptions to accurately describe job content; perform job analysis and evaluation for both existing positions and newly created positions, performing job audits as appropriate.
Qualifications, Knowledge, Skills, and Abilities:
- Bachelor’s degree in human resources, or another related field
- 3 years’ professional work experience managing compensation program design, annual compensation initiative, benchmarking/market analysis models and performing job analysis and evaluation.
- CCP, PHR or SPHR certification a plus
- Proven ability to consolidate and manipulate large data sets with a commitment to accuracy and details
- Strong written, verbal and graphic communication skills, including the ability to effectively communicate technical information to varying audiences
- Demonstrated ability to maintain confidentiality
- Demonstrated strong attention to detail and highest levels of accuracy
- Demonstrated understanding of wage and salary administration
- Strong knowledge of federal, state, and local laws and regulations
- Proficient in Microsoft office Suite with advanced Excel experience; PowerBI a plus
- Ability to read, write, and speak English fluently; Spanish a plus