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Total Rewards Analyst- Compensation
Career Insights for Compensation / Benefits Analyst
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Scorecard
Based on Oklahoma 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.
$90,909 / year median in Oklahoma
+8% projected growth
Job Description
JOB INFORMATION
Job Title:
Compensation Consultant StaffGrade:
Exempt 54Job Code:
126156 JOB SUMMARY Develops proactive partnerships with the Business and HR to identify and address compensation opportunities. Provides subject matter expertise in pay equity, incentive pay, variable pay, and/or job analysis to support the attraction and retention of the right people in the right jobs. Responsible for offering compensation support to identify, respond to, and manage the compensation needs of our members within a specific business unit(s). Administers compensation systems to enable the corporation to effectively reward and motivate its employees.LEVEL OF RESPONSIBILITY
- General responsibilities with standardized processes.
ESSENTIAL FUNCTIONS
- Performs initial compensation reviews and inputs changes to salary structures and member data.
- Participates in compensation surveys in a timely manner and ensures accurate market data in compensation systems to determine salary grades aligned with market value, internal equity, general market conditions and career pathing.
- Assists with compensation policy preparation.
- Prepares compensation summaries and special reports from Compensation Systems.
- Partners with managers to prepare of job descriptions and performs market evaluations.
- Presents Compensation training to managers and supervisors.
- All other duties as assigned.
- Develops Pay-For-Performance matrix and projected annual cost of merit program.
- Provides support to implementation of annual merit, short term and long term incentive administration.
- Works with managers to assure that job descriptions accurately reflect the responsibilities of the job and that they are FLSA compliant.
- Assists with analyzing annual market movement, budget, and economic projections to develop recommendations for the annual merit budget and structure movement required to maintain competitive pay.
REQUIREMENTS
- Bachelor's Degree within a related field (e.
PREFERRED QUALIFICATION
- Experience working in Compensation
WORKING CONDITIONS
- May be required to work overtime and non-standard hours.
- May require travel.
- Work is often performed with short deadlines and involves sensitive, personal matters requiring objectivity and confidentiality.
SPECIAL SAFETY REQUIREMENTS
- Member will not be required to drive in order to perform their job duties.
- Member is not required to perform any safety sensitive duties.
KNOWLEDGE, SKILLS AND ABILITIES
(KSAS)- Able to maintain confidentiality.
- Possesses strong problem solving skills.
- Demonstrates strong organizational skills with the ability to manage multiple projects simultaneously.
- Knowledge of HRIS systems.
- Able to work independently with limited supervision and make decisions based on standards and established procedures.
- Demonstrates high proficiency in the use of a personal computer with MS Office Suite, advanced Excel skills.
- Possesses strong analytical skills with the ability to organize data from multiple sources.
- Able to create and maintain interactive spreadsheets including tables, queries, reports, and macros.
- Possesses working knowledge of Compensation programs, design practices, and administration.
LICENSES AND CERTIFICATIONS
Required Certifications/Licensures:
(Valid Driver's License)HEALTH AND SAFETY
(MEDICAL/DOTREQUIREMENTS
)- Pre-Employment Drug Screen