For most organizations,
the biggest chunk of their budget
goes to employee salaries and benefits.
Compensation, benefits,
and job analysis specialists
ensure that positions in an organization
are classified properly,
and that pay and benefits are appropriate
to attract new employees,
all while keeping the organization’s finances
in balance.
These Specialists research
compensation and benefits policies and plans,
keeping up to date on trends in the market
to ensure their programs are current,
legal, and competitive.
They also write reports recommending
changes to company management.
Some specialize in a specific area:
Compensation specialists
research salary trends
within a comparable industry and region.
They also ensure compliance
with laws and regulations,
such as minimum wage and equal pay.
Benefits specialists administer
retirement plans,
leave policies, wellness programs,
and insurance.
They work closely with insurance brokers
and benefits carriers.
Job analysis specialists
write job descriptions
for new or changing positions,
and recommend status, classification,
and salary for those jobs to managers.
Compensation, benefits,
and job analysis specialists
work in nearly every industry.
They typically work in offices,
and most work regular
full time business hours.
A bachelor’s degree
along with related work experience,
is required for most positions.
Courses in business, management,
finance and accounting are helpful.