25 results for Compensation Analyst in Watsonville, CA
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Compensation Analyst Job Description
A Compensation Analyst is responsible for developing, implementing, and analyzing an organization's compensation programs to ensure competitive and equitable pay practices. This role often includes conducting research, performing salary benchmarking, and advising management on compensation strategies to attract and retain talented employees. Below is a comprehensive outline of the key responsibilities, required qualifications, and skills typically associated with this role:
Key Responsibilities:
- Market Research and Analysis: Conduct regular analysis of market trends and compensation data to ensure that salaries and benefits remain competitive within the industry (Source: SG25 US Human Resources.docx).
- Compensation Benchmarking: Assess industry salary surveys and utilize tools to benchmark compensation packages for various roles within the organization.
- Job Evaluations: Evaluate the value of jobs by analyzing job descriptions, duties, and qualifications to establish appropriate salary ranges and grades.
- Pay Structure Development: Design and maintain salary structures and pay grades to align with business needs and overall compensation philosophy.
- Compliance: Ensure all compensation practices comply with government regulations such as the Fair Labor Standards Act (FLSA) and other applicable laws.
- Employee and Management Advisement: Provide guidance to managers and employees regarding pay decisions, policy clarifications, and job evaluations.
- Cost Analysis: Conduct financial analyses to assess the salary-related impact of job promotions, salary adjustments, and restructuring initiatives.
- Collaboration: Partner with HR, finance, and recruiting teams to ensure fair and consistent compensation practices.
- Incentive Plan Creation: Assist in the design and implementation of incentive programs, commission structures, and bonus schemes tied to performance goals.
Required Qualifications:
- Education: Bachelor's degree in Human Resources, Business Administration, Finance, or a related field.
- Experience: At least 2-3 years of experience in compensation, HR analytics, or a similar role.
- Certifications: Preferred certifications like Professional in Human Resources (PHR), SHRM Certified Professional (SHRM-CP), or Certified Compensation Professional (CCP) (Source: SG25 US Human Resources.docx).
- Technical Skills: Proficiency in Human Resources Information Systems (HRIS) such as Workday or ADP and data analysis tools like Excel.
Key Skills:
- Analytical Skills: Strong ability to interpret large datasets and distill actionable insights for compensation decisions.
- Attention to Detail: Precision in administering pay structures and ensuring compliance with regulations.
- Communication Skills: Excellent written and verbal skills for presenting findings and advising internal stakeholders.
- HR Analytics: Familiarity with predictive analytics and reporting tools to improve compensation strategies (Source: SG25 US Human Resources.docx).
- Project Management: Ability to manage multiple tasks and deadlines efficiently.
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