Compensation and Benefits Analyst

Location: Remote
Annual Salary: $169,208

Job Summary:

As a Compensation and Benefits Analyst, you will play a pivotal role in ensuring that our organization attracts, retains, and rewards top talent through competitive and strategically aligned compensation and benefits programs. You will be responsible for conducting an in-depth analysis of compensation structures, evaluating benefits programs, and recommending changes to optimize our offerings. The ideal candidate will be detail-oriented, data-driven, and knowledgeable about market trends, labor laws, and industry best practices in compensation and benefits management.

This is a fully remote position, allowing you the flexibility to work from anywhere while collaborating with HR teams and leadership to develop and maintain robust compensation and benefits strategies that support the company's growth and employee satisfaction.

Key Responsibilities:

1. Compensation Analysis and Strategy Development:

• Conduct comprehensive salary benchmarking studies, analyzing compensation data across various industries, job functions, and regions to ensure competitive and equitable salary structures.
• Evaluate existing compensation policies and make data-driven recommendations for adjustments to ensure alignment with market trends and internal equity.
• Collaborate with HR and department managers to design, implement, and maintain job classification and compensation programs, ensuring fairness and compliance with regulations.
• Support the development of salary structures and pay scales that align with the company’s financial and strategic goals.
• Provide insights into compensation trends, such as bonuses, incentives, and long-term equity programs, ensuring the organization remains competitive in its offerings.
• Monitor and report on the effectiveness of compensation strategies, recommending enhancements where needed.

2. Benefits Administration and Optimization:

• Conduct a comprehensive review of current employee benefits programs, including health insurance, retirement plans, wellness programs, and other perks.
• Analyze the cost-effectiveness and competitiveness of existing benefit offerings, benchmarking them against industry standards and employee needs.
• Work with external vendors and internal stakeholders to negotiate, implement, and optimize employee benefits packages.
• Stay updated on emerging benefits trends, such as flexible working arrangements, wellness initiatives, and mental health programs, to ensure the company’s benefits strategy evolves with workforce expectations.
• Ensure that the benefits programs comply with legal requirements, such as ERISA, HIPAA, ACA, and other applicable regulations.
• Provide guidance and support to HR and employees on benefits-related inquiries, including enrollment processes, claims resolution, and plan changes.

3. Data Analysis and Reporting:

• Utilize HRIS systems and compensation/benefits software to collect, analyze, and interpret data related to employee compensation and benefits.
• Prepare and present detailed reports and analyses for senior leadership, including cost analysis, employee satisfaction surveys, and recommendations for improvement.
• Monitor and analyze the organization’s compensation and benefits expenditures, identifying trends and opportunities to maximize return on investment.
• Collaborate with the HR team to develop metrics and dashboards that provide ongoing visibility into compensation and benefits performance and employee satisfaction.

4. Compliance and Legal Standards:

• Ensure that all compensation and benefits programs comply with federal, state, and local regulations, as well as company policies.
• Keep up to date with evolving labor laws, taxation, and reporting requirements to ensure that the organization remains compliant with all relevant legislation.
• Participate in audits, reporting, and data validation processes to ensure the accuracy of compensation and benefits records.
• Provide recommendations for risk mitigation concerning compensation and benefits practices and ensure that all programs are aligned with company policies and legal requirements.

5. Employee Communication and Education:

• Develop clear and concise communication materials to educate employees about compensation and benefits programs, including new hires and existing employees during open enrollment periods.
• Conduct webinars, virtual meetings, and Q&A sessions to help employees understand and make the most of their compensation and benefits packages.
• Collaborate with HR and marketing teams to create and distribute benefits guides, FAQs, and other resources that support employee understanding and satisfaction.

6. Collaboration and Leadership:

• Work closely with HR leadership, payroll, finance, and department managers to align compensation and benefits strategies with business objectives.
• Partner with cross-functional teams to ensure the successful rollout of compensation changes, new benefits programs, and other HR initiatives.
• Serve as the subject matter expert on compensation and benefits, providing guidance and training to HR staff and management.
• Foster a culture of transparency and fairness regarding pay and benefits, promoting employee trust and engagement.

Required Qualifications:

• Bachelor’s degree in Human Resources, Business Administration, Finance, or a related field.
• Minimum of 3-5 years of experience in compensation and benefits analysis, preferably in a fast-paced, remote working environment.
• Strong understanding of compensation strategies, job evaluation techniques, and market pricing methodologies.
• Proficiency in benefits administration, including health plans, retirement plans, and wellness programs.
• Advanced analytical skills, with experience working with large datasets and HRIS systems (e.g., Workday, ADP).
• Excellent knowledge of labor laws, tax implications, and regulatory requirements related to compensation and benefits.
• Strong communication skills, with the ability to present complex data and recommendations clearly and concisely.
• Ability to work independently in a remote environment, manage multiple tasks, and meet deadlines.

Preferred Qualifications:

• Certification in compensation (e.g., CCP) or benefits (e.g., CEBS) is highly desirable.
• Experience with compensation modeling, pay equity analysis, and long-term incentive programs.
• Proficiency in data visualization tools (e.g., Tableau, Power BI) and advanced Excel skills.

Work Environment:

This is a fully remote position, offering flexibility and autonomy. You will collaborate with team members across different time zones and report to senior HR leadership. The role requires excellent time management and communication skills, as you will be part of a dynamic and fast-growing organization.

Equal Opportunity Employer:

We are committed to creating a diverse and inclusive workplace. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, sexual orientation, national origin, disability, or veteran status.