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Compensation Specialist

2 months ago

Norwell, Massachusetts, United States Complete Staffing Solutions Full time
Job Overview

Compensation Specialist is responsible for assessing, analyzing, and proposing modifications to employee remuneration in accordance with organizational policies, objectives, and financial constraints.

Key Responsibilities include:

1. Developing and Managing Compensation Strategies: This entails the creation and oversight of employer compensation frameworks, encompassing base salary, short and long-term incentives, bonuses, commissions, and equity options. These strategies should align with the company's goals for attracting talent, retaining employees, and enhancing workforce engagement.

2. Salary Structure and Classification Design: Compensation Specialists craft and communicate salary structures, classifications, compensation budgets, and guidelines. They provide guidance to management on effective remuneration decisions that foster employee engagement while complying with compensation policies and budgetary constraints.

3. Position Evaluation and Job Descriptions: They assess roles within the organization and develop and maintain job descriptions and job frameworks. This ensures consistency and equity in compensation across various positions.

4. Market Analysis and Research: Compensation Specialists engage in compensation surveys, conduct research, and analyze market competitiveness, pay equity, and compensation trends. This data informs decisions regarding salary adjustments and benefits.

5. Qualifications: A bachelor's degree or equivalent experience is required.