A compensation, benefits or job analysis specialist oversees their organization's benefits and compensation programs. They must ensure that their company's package(s) are competitive within its industry, as well as cost effective and able to meet employees' needs. Additionally, these specialists evaluate positions to ensure that salary levels are appropriate, that exempt or non-exempt status is applied correctly, and that job descriptions and classifications are accurate. If a position is new within the company, the specialist must collaborate with relevant managers within the company to define the position and determine appropriate compensation.
Other tasks performed by compensation, benefits or job analysis specialists include analyzing compensation and benefits trends within their company and industry, ensuring their company follows all relevant state and federal laws, and preparing reports for managers within their company on compensation, benefits and job analysis. The benefits programs overseen by these specialists may include insurance policies, retirement plans, leave policies and any company wellness programs. These specialists generally work full time in an office setting, although hours and location may vary depending on the employer's needs.
A bachelor's degree in human resources, business administration or another relevant field is generally the minimum educational requirement for compensation, benefits or job analysis specialist positions. Previous experience in a related role is typically required or preferred as well.
Compensation, Benefits, or Job Analysis Specialist Tasks
Price new jobs utilizing salary surveys or slotting.
Write job descriptions and maintain database of all job descriptions.
Assist in researching and developing policies regarding health insurance, retirement, pension plans and paid time off.
Examine and evaluate employee compensation and benefit programs.
Participate in salary surveys, and analyze data from survey sources to determine competitiveness both internally and externally.