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Total Rewards Specialist
Career Insights for Compensation / Benefits Analyst
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Scorecard
Based on Florida data
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What they do
A Compensation or Benefits Analyst evaluates and works to maintain the pay structure and benefits program at an organization. Analyzes wage and salary data and trends, monitors market conditions; works with benefits vendors, processes benefit claims for employees; monitors government employment regulations. May focus specifically on job classifications and compensation or on benefits programs such as pensions.
$83,602 / year median in Florida
+10% projected growth
Job Description
- in everything we do: Integrity
- We act honestly because nothing is more important than our reputation. Teamwork
- We are better together. People-Focused
- We put people first
- our Associates, customers, franchisees, and partners
- and cultivate a respectful, collaborative, and inclusive culture, top to bottom, inside and out. Accountability
- We own our actions and decisions; we do what we say we are going to do. Leave Everything Better
- We innovate to improve everything we touch, and we take actions now to protect the future.
Responsibilities
Benefits Responsibilities Health & Welfare Administration:
Annual open enrollment execution, plan design evaluation, and vendor management (medical, dental, vision, life, disability). Retirement, Funding accounts &Wellbeing:
401(k) compliance/nondiscrimination testing, weekly and bi-weekly funding for HSA, FSA and 401k accounts, deferred compensation, leave-of-absence administration, and wellness program oversight.Benefits Systems & Analytics:
Managing benefits integrations within benefit platform, preparing and auditing billing rosters, and analyzing benefit utilization trends/claims data to manage healthcare costs. Assists with benefits administration, invoicing, 401k, the annual benefits renewal process, including the coordination of annual open enrollment process, including development of communication, and vendor data feeds. Responsible for assisting in administering, processing and maintaining the leave information for the associates in accordance to the FMLA, LOA, Military Leave & ADA leaves Contribute to benchmarking activities by supporting pay and benefits survey input and subsequent data extraction for analysis Additional ResponsibilitiesCompensation Responsibilities Core Comp Operations:
Job evaluation, benchmark analysis, salary structure maintenance, and annual merit/bonus cycles.Pay Transparency & Equity:
Job architecture mapping, pay range creation/disclosure, and internal pay equity auditing.Incentives & Modeling:
Supporting short-term and long incentive plan administration and modeling cost scenarios for compensation changes. Market Analysis Assists with position description updates and job classification process to ensure consistency throughout the organization. Participates in the benchmarking of all job descriptions Benchmarks jobs against survey data and other market intelligence, and compensation surveys to determine competitive compensation ranges for each position. Continued Responsibilities Supports the annual salary planning process, including the annual company budgeting process & the annual merit cycle. Leads and provides direct support to assigned customer groups Analyzes company compensation policies in relation to government wage and hour regulations, prevailing rates for similar jobs in comparable industries or geographic areas and recommends changes as appropriate to establish and maintain competitive rates. Educates managers and HR staff on concerns; escalates issues as needed Provides analytical support and data analysis on projects and human resource metrics. Serves as a point of contact for auditors (both internal and external) and helps with data extraction and related audits for benefits and compensation The Analyst provides analytical and technical support in the delivery of benefits and compensation programs. Added Responsibilities Designs and develops business reports to capture key metrics and trends (pay for performance metrics, compensation trending Responsible for the development and maintenance of all total rewards standard operating procedures content and policies. Works effectively cross functionally on projects as assigned Promote and support the mission, vision, and values of the company Other duties as assigned Qualifications Bachelor's degree in human resources, Business Administration or related field required Professional certification is a plus (CCP, PHR, CEBS) preferred but not required Minimum 3 years of experience in compensation and benefits function in large organization Advanced Microsoft Excel Skills Required- Complex Modeling, and PowerPoint.