Compensation Specialist Job Description

How do you write a job description for a Compensation Specialist?

We are looking for a Compensation and Benefits Specialist to oversee and administer the employees perfect rewards and smart benefits. You will assess personnel needs and draft targeted programs that will increase performance, organizational trust and satisfaction. The goal is to attract, retain and motivate high quality employees while reducing turnover and enhancing our company’s profile as best place to work.

This sample Job description explainer offers guidance on key sections that are important to include for clarity, as well as suggestions for promoting the position. It provides a list of duties, responsibilities, tasks, requirements, demands for setting job expectations and the employee's ability to perform the work as described. However, it’s often not construed as an exhaustive list of all functions, responsibilities, skills and abilities.

What does a Field Compensation Specialist do?

Responsibilities:

• Define a fair, equitable and competitive total compensation and benefits package that fits and is aligned to our company’s strategy and business goals.
• Develop a consistent compensation philosophy in line with work culture and organizational objectives.
• Ensure that compensation practices are in compliance with current legislation (pay equity, human rights, etc).
• Use various methods and techniques and make data based decisions on direct financial, indirect financial and nonfinancial compensations.
• Assess employees needs by conducting organizational psychology surveys to find out what motivates and engages employees.
• Prepare job descriptions, job analysis, job evaluations and job classifications.
• Participate in salary and labor market surveys to determine prevailing pay rates and benefits.
• Differentiate pay systems to invest in the segments of workforce that contribute the most value.
• Deploy effective communication strategies and success metrics.
• Conduct ongoing research into emerging trends, issues and best practices.
• Conduct periodic audits and prepare reports.

Qualifications:

• Proven working experience as a Compensation and Benefits Specialist.
• Prior experience in HR practices and compensation cycle management.
• Working knowledge of job evaluation and job analysis systems.
• Previous experience with organizational psychology and labor market surveys.
• Adequate knowledge of current labor rules and regulations.
• Familiarity with various types of incentives and benefits.
• Extensive knowledge of HRIS and MS Office.
• Strong quantitative and analytical skills.
• BS degree in human resources, business administration or finance.

If you wish to use the content provided to make a functional job description, than you normally also need to includes relevant job details of the physical requirements, as well as certain movements that workers may encounter while on the job. This Compensation Specialist Job Description template is fully editable and printable and can be used in Google Docs, MS Word or Pages format. Get this downloadable file now and customize it according to your needs.