Senior Compensation Specialist

POSITION SUMMARY

The Compensation Specialist is responsible for supporting the development, implementation, and administration of compensation programs that align with the company's strategy and goals.

This role ensures that compensation structures are competitive, equitable, and compliant with regulatory standards.

The Compensation Specialist will work closely with HR, leadership, and various departments/platform partners to provide expertise in salary benchmarking, job evaluation, and incentive plans.

Key Duties and essential functions:



* Develop company compensation philosophy, strategy and structures that align with strategic goals ensuring external competitiveness and internal equity. 


* Design and manage company compensation policies and programs


* Provide expertise, guidance and analytical support to business leaders and HR Generalists on a range of day-to-day compensation issues, including market analysis for new positions and promotions, and addressing retention issues



* Administer and review short-term and long-term incentive plans, ensuring alignment with company goals and market competitiveness.


* Collaborate with HR and Finance on the annual compensation review process, incentive payout calculations and communications, and incentive participation communications


* Conduct market research and salary benchmarking to ensure the company’s compensation packages are competitive within the industry and region.


* Track and evaluate performance metrics to support incentive and bonus plan decisions.


* Work with HR, Finance and Company Leaders to ensure smooth implementation of compensation programs across departments and locations.


* Assist with employee communications regarding compensation changes or programs.


* Produce workforce analytics, audit compensation data and identify trends that are affecting the business and recommend adjustments.



* Support annual compensation reviews, including merit increases, salary adjustments, and bonus planning.


* Collaborate with managers to develop and review job descriptions to ensure consistency and alignment with the company’s compensation philosophy.


* Evaluate job descriptions, ensuring accurate classification and alignment with compensation structures.


* Prepare compensation reports and presentations for senior management to support decision-making.



* Assist with compliance reporting requirements such as EEO-1 and pay equity audits.



* Ensure compliance with all federal, state, and local regulations regarding compensation practices.


* Other duties as assigned.

Supervisory Responsibilities:



* None

Required Qualifications:



* 8+ years of experience in compensation design, analysis and administration.


* Bachelor's degree in Human Resources, Business Administration, Finance, or related field or equivalent work experience.


* Working knowledge of compensation principles, ...