Compensation, Benefits, and Job Analyst
Compensation, benefits, and job analysis specialists research compensation and benefits programs and trends for an organization and examine position descriptions to determine an employee's salary and classification. They ensure the organization's compensation and benefits plan is cost effective, competitive and current. Compensation, benefits, and job analysis specialists are employed in almost every industry and normally work in an office on a full time basis.
How to become a Compensation, Benefits, and Job Analyst
Compensation, benefits, and job analysis specialists typically require a bachelor's degree with a few exceptions that may show sufficient relevant work experience in lieu of a formal degree. Because not all colleges and universities offer an undergraduate degree in human resources, many of them provide courses in benefits administration, compensation analysis, and human resources management.
Many students get their degree in human resources, business administration, communication, finance, or a related field. Most employers desire work experience in benefits administration, general human resources work, or compensation analyses.
An employer may also accept an applicant with experience in insurance, finance, or business administration. Certification is not required, however, it may be advantageous to demonstrate professional expertise. Many organizations will provide certification after the employee has been on the job.
Job description of Compensation, Benefits, and Job Analysts
Compensation, benefits, and job analysis specialists have the tasks of analyzing compensation benefits trends and researching their organization's policies in those areas to be sure they are cost effective, current, and competitive.
They compare compensation and benefits plans by using data and cost analyses. He or she evaluates position description to determine an employee's salary and classification. A compensation, benefits, and job analysis would collaborate with outside partners like investment managers, benefits vendors, and insurance brokers.
They have the duties of preparing reports showing their research and analysis, as well as, presenting their recommendations to other resource managers. Some compensation, benefits, and job analysis specialize in specific areas, such as, compensation specialist, benefits specialists, or job analysis specialist, which is also referred to as position classifiers.
He or she needs to have analytical skills, communication skills and have critical thinking skills. They also need to have business acumen, which is understanding basic finance and accounting and be detail-oriented.