Compensation Consultant Job Description
Compensation Consultant responsibilities
- Developing and administering compensation programs
- Ensuring compensation practices adhere to labor legislation
- Performing data analysis to ensure equitability
Compensation Consultant Job Description Template
Job Brief
We are looking for a Compensation Consultant to join forces with HR and develop compensation and benefits plans for our employees.
Compensation Consultant responsibilities include setting salaries and pay grades for new positions within the company, gathering benchmarking data on wages and recommending bonus programs based on job analyses. To be successful in this role, you should have a good knowledge of payroll procedures and labor legislation.
Ultimately, you will ensure we offer competitive and fair compensation plans to all of our employees.
Responsibilities
- Work closely with HR to plan and implement compensation packages
- Ensure compensation practices are in line with labor legislation
- Create fair salary and bonus plans using job evaluations
- Review and assess pay scales, base pay and incentives
- Set wages for new positions within the organization
- Analyze compensation data to identify potential issues (like pay gender gaps) ensure equitability in all levels
- Conduct compensation surveys and analyze findings to add value to the company’s strategic plan
- Ensure compensation plans align with the company’s profitability goals
- Gather benchmarking data and restructure compensation to make sure we remain competitive in terms of salaries and benefits
Requirements
- Proven experience as a Compensation Specialist or a relevant role
- Strong knowledge of HR practices and labor legislation
- Familiarity with payroll software
- Excellent analytical and qualitative skills
- Good communication skills
- BSc degree in Human Resources Management, Finance or relevant background
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