Compensation and Benefits Analyst

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Position Summary

• The Compensation and Benefit Analyst is primarily responsible for assessing pay and benefits structures to ensure competitive positioning, analyze compensation and benefits policies, and prepare reports to help make strategic decisions.

Principal Accountabilities

• Standards of Performance:  Respect, Integrity, Compassion, Collaboration, Stewardship, Accountability, Quality

Education

• A Bachelor's degree in Business Administration, Human Resources, or a related field is required.

Licenses and Certification

• PHR certification, SHRM-CP or CCP certification preferred

Experience and Skills

• Proven work experience as a Compensation and Benefits Analyst or similar role.
• Knowledge of various types of incentive and benefits packages and industry standards.
• Strong analytical skills with the ability to interpret and analyze data.
• Proficiency in HRIS and related software.
• Experience with job classification and compensation analysis.

• Excellent problem solving and organizational skills
• Strong verbal and written communication skills

Physical Activities

• Intermittent hand manipulation required
• Intermittent lifting and carrying of 20 lbs.

Role Specific Responsibilities

• Conduct extensive research and analysis on the competitive pay rates within the industry to determine the most appropriate compensation packages.
• Analyze salary data, evaluate job positions, and staying updated on federal and state regulations.
• Create and maintain job descriptions.
• Design and draft benefits packages that attract and retain employees.
• Assess benefit packages to ensure legality and competitiveness.
• Work closely with HR and management teams to update and maintain salary scales.
• Develop and maintain benefits and compensation policies as needed.
• Review employee benefit programs and policies to ensure compliance with company standards and regulations.
• Conduct market research to analyze the cost and effectiveness of various benefit plans and make recommendations for improvement.
• Coordinate and administer employee benefit enrollment and renewal processes, including communicating plan changes and updates to employees.
• Work with insurance carriers and brokers to negotiate competitive rates and plan options for medical, dental, and other types of insurance.
• Assist in processing insurance claims and resolving issues related to benefits coverage, eligibility, and payment.
• Maintain accurate records and documentation related to employee benefits, including enrollment forms, benefit summaries, and plan documents.
• Provide guidance and support to employees regarding their benefit options and assist in resolving any questions or concerns.
• Monitor and analyze benefit utilization and cost trends to identify opportunities for improvement or cost savings.
• Prepare and present reports on benefit program performance and highlights to leadership and management teams.
• Provide advice on how to improve existing compensation and benefits structures.
• Assists in the preparation of summary plan descriptions and other documents that communicate the provisions of each benefit program to staff effectively and clearly. Communicates to employees about these specific plans through letters, telephone, and in person.
• Processes benefit plan enrollment and change forms through input to Human Resource system; processes remittances and other communications to outside providers; coordinates timely and accurate payment for all benefit programs to the benefit provider/carrier.
• Audits and monitors payroll reports and benefits eligibility reports by job code or other methods; ensures that all staff deductions and payments for benefits are properly accounted for and deposited in a timely manner.
• Maintains accurate and complete files on benefit provider/carriers regarding plan descriptions, contracts, amendments and other benefit related documents.

Compensation (Commensurate with experience):

$58,739.20 - $91,041.60

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