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Compensation Specialist

2 months ago

Troy, Michigan, United States Delta Staffing Full time

Key Responsibilities

  • Conduct thorough assessments of job roles by engaging with subject matter experts, analyzing completed surveys, and observing job functions.
  • Develop and maintain detailed job descriptions, qualifications, and evaluation criteria.
  • Benchmark compensation for new employees to ensure alignment with market trends and internal fairness.
  • Evaluate and categorize positions to guarantee equitable pay within the organization.
  • Conduct salary surveys and analyze compensation data to uphold competitive external pay practices.
  • Assist in the development and maintenance of pay structures, including calculating pay grades and salary ranges.
  • Gather and analyze compensation data to create comprehensive reports.
  • Ensure adherence to Federal, State, and local regulations to mitigate legal risks and support compliance efforts.
  • Review and align proposed salary increases and incentives with budgetary constraints, notifying supervisors of any inconsistencies.
  • Enhance and support the performance evaluation process.
  • Provide guidance on strategies for employee retention and severance arrangements.
  • Lead and support HR initiatives, managing the execution, communication, and delivery of essential activities.
  • Monitor trends in labor costs and adjust the labor cost budget as necessary on an annual basis.
  • Contribute to the development of strategies, policies, and documentation related to compensation programs that reflect company values.
  • Actively engage in continuous improvement efforts to optimize compensation processes.
  • Expand knowledge of compensation practices through training and professional literature.
  • Perform additional duties as assigned.

Required Qualifications and Skills

  • A Bachelor's degree in business is essential, with a preference for Human Resources.
  • A minimum of three years of experience in Human Resources, including at least two years focused on compensation.
  • Proficient in Microsoft Office [2007 or newer], with advanced skills in MS Excel.
  • Demonstrated ability to manage projects effectively and consistently meet deadlines.
  • Strong verbal, non-verbal, negotiation, and written communication skills.
  • High level of professionalism in interactions with both internal and external stakeholders.
  • Excellent problem-solving, analytical, and organizational abilities.
  • Familiarity with strategic development, both short and long-term, is preferred.