Compensation and Benefits Analyst

Location: Remote
Annual Salary: $107,448

Job Overview:

We seek a dedicated and knowledgeable Compensation and Benefits Analyst to join our team. The successful candidate will play a pivotal role in supporting the design, development, and administration of competitive compensation and benefits programs to attract and retain talent while ensuring compliance with regulations and internal policies. The Compensation and Benefits Analyst will collaborate with HR, finance, and management teams to evaluate and structure remuneration packages that align with the company’s objectives.

This role allows you to work remotely, providing flexibility while collaborating with various stakeholders across different regions. Your primary focus will be analyzing market trends, ensuring fair and equitable compensation structures, and enhancing employee benefit offerings.

Key Responsibilities:

1. Compensation Analysis:

• Analyze current compensation structures and evaluate the competitiveness of salaries, bonuses, and incentive plans compared to industry standards and market trends.
• Participate in salary benchmarking surveys, interpret survey data, and prepare recommendations for salary ranges and compensation strategies that align with business goals.
• Design, review, and adjust compensation packages, including base salaries, variable compensation, bonuses, and equity awards.
• Collaborate with managers and HR business partners to address compensation-related issues, ensuring internal equity and compliance with applicable labor laws.
• Monitor and evaluate trends in the external job market and provide insight on best practices and innovations in compensation.
• Assist in creating and updating job descriptions, determining appropriate classifications, and grading salary based on the complexity and level of responsibilities.

2. Benefits Administration:

• Administer employee benefits programs, including health, dental, vision, life insurance, retirement plans, disability programs, and wellness initiatives.
• Ensure that benefits programs comply with local, state, and federal regulations and align with organizational needs.
• We review benefits offerings annually and recommend adjustments to improve employee engagement, satisfaction, and retention while effectively managing costs.
• Assist in coordinating open enrollment, new hire orientations, and benefits-related presentations to employees.
• Act as a liaison between employees and benefit providers, resolving issues or discrepancies promptly and efficiently.
• I oversee the enrollment, communication, and termination of employee benefits, ensuring therapy and timeliness in documentation and records.
• Keep updated with legislative changes in benefits policies and recommend necessary adjustments to the company's benefits programs.

3. HRIS and Data Management:

• Maintain compensation and benefits data within the HRIS (Human Resources Information System) and ensure data integrity across all systems.
• Generate reports and analyze HR metrics related to compensation and benefits, including turnover rates, cost analyses, and benefits utilization.
• Develop tools and templates to streamline compensation and benefits processes, recommending process improvements.
• Ensure that compensation and benefits information is accurately reflected in payroll systems and work closely with payroll teams to resolve any discrepancies.

4. Policy and Compliance:

• Ensure compliance with federal and state compensation laws and regulations such as FLSA, FMLA, ACA, and ERISA.
• Regularly review and update compensation and benefits policies, ensuring they align with legal requirements and best practices.
• Advise HR and management on compensation-related legal and regulatory updates that may impact current practices and policies.
• Conduct regular audits of compensation and benefits programs to ensure legal compliance and internal policy adherence.
• Manage all required filings, audits, and communications related to employee compensation and benefits plans.

5. Strategic Initiatives:

• Partner with senior management to develop and implement compensation and benefits strategies that support overall business objectives.
• Lead or participate in cross-functional projects enhancing employee compensation and benefits, such as incentive programs or new benefits.
• Collaborate with finance teams to budget and forecast costs related to compensation and benefits programs.
• Continuously assess the effectiveness of compensation and benefits programs in supporting the company’s ability to attract, motivate, and retain top talent.
• Assist in developing and implementing total rewards communication strategies to ensure employees understand their compensation and benefits offerings.

6. Employee Support and Communication:

• Provide expert guidance and support to employees regarding compensation and benefits queries.
• Serve as a resource for HR and management teams on compensation and benefits best practices, benchmarking, and regulatory compliance.
• Develop and deliver employee education materials on benefits programs and compensation structures, ensuring clarity and transparency.

Required Qualifications:

• Bachelor’s degree in Human Resources, Business Administration, Finance, or a related field.
• 3-5 years of experience in compensation, benefits, or a related HR role.
• In-depth knowledge of compensation and benefits regulations, including FLSA, ACA, ERISA, and other applicable laws.
• Proficiency in data analysis and the ability to interpret and present data meaningfully.
• Experience working with HRIS and compensation software, with strong proficiency in Excel or other data management tools.
• Excellent analytical, problem-solving, and communication skills.
• Ability to work independently, manage multiple tasks, and meet deadlines in a fast-paced environment.
• Strong attention to detail and the ability to handle confidential information with discretion.

Preferred Qualifications:

• Certified Compensation Professional (CCP) or Certified Employee Benefits Specialist (CEBS) designation.
• Experience in a multi-national or multi-state organization with complex compensation and benefits structures.
• Familiarity with global compensation and benefits trends.

Why Join Us:

This role allows you to contribute to critical HR functions while enjoying the flexibility of remote work. With a competitive salary of $107,448 annually, you will help shape the future of the company's total rewards strategy, ensuring that our employees are fairly compensated and have access to valuable benefits that enhance their overall well-being.