Compensation Consultant Job Description Template
Our company is looking for a Compensation Consultant to join our team.
Responsibilities:
- Designs, implements and communicates a wide variety of compensation and salary administration programs;
- Develops statistical analysis, data modeling reports, and data for management;
- Identifies and implements opportunities for improvement to existing processes and procedures;
- Other related duties as assigned;
- Researches best practices and develop proactive approaches to identify compensation challenges within assigned area;
- Recommends, conducts and oversees salary surveys in order to understand competitive compensation levels in the organization;
- Report on compensation trends, outcomes and issues as needed;
- Become a “super-user” of the Compensation System;
- Provide analytical support for the design and administration of compensation programs;
- Keep track of and synthesize market trends for distribution amongst team;
- Assist with the annual planning, preparation, and process of allocating the corporate bonus pool and base salary budget at year-end;
- Coordinate annual survey participation, which includes assisting with job matching, data submission, and reviewing results;
- Develop short- and long-term incentive programs;
- Develop Job Descriptions;
- Handle inbound leads leading to new business.
Requirements:
- Knowledge of federal, state and local regulations regarding compensation programs;
- Proficiency with business and communications software (Word, PowerPoint, Visio, Outlook);
- Experience with Payfactors or comparable market pricing system;
- Bachelor’s degree in Business Administration or other related business field (i.e. economics, finance);
- Minimum of 6 years of successful compensation consulting/analyst experience;
- Bachelor’s Degree or Equivalent;
- Capacity to multi-task, balance multiple priorities and meet deadlines in a dynamic and changing environment;
- Strong analytical, research, and problem-solving skills;
- Organized and detail oriented with strong time management skills;
- Advanced proficiency with MS Excel required – nested “if” statements, formatting, analyzing large amounts of data, etc;
- 5 years of experience in an analytical position;
- Ability to synthesize data from a variety of sources;
- Analyst Requirements plus;
- Ability to develop professional formatted tables and charts;
- Strong analytical, problem solving and critical thinking skills.