Compensation Job Description
Compensation Duties & Responsibilities
To write an effective compensation job description, begin by listing detailed duties, responsibilities and expectations. We have included compensation job description templates that you can modify and use.
Sample responsibilities for this position include:
Compensation Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Compensation
List any licenses or certifications required by the position: CCP, SPHR, PHR, SHRM, GRP, WAW, SCP, CEBS, CP, HR
Education for Compensation
Typically a job would require a certain level of education.
Employers hiring for the compensation job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Master's Degree in Human Resources, Finance, Business, Business/Administration, Education, Accounting, Economics, Mathematics, Administration, Statistics
Skills for Compensation
Desired skills for compensation include:
Desired experience for compensation includes:
Compensation Examples
Compensation Job Description
- Work with accounting, finance and sales leaders to assure that partner compensation plans are aligned with company strategies
- Regulate and track key partner compensation performance drivers for channel partners, sales and partner account managers and deliver key reports to senior management
- Complete user acceptance testing for calculation logic, data tables and reporting in the incentive compensation systems and related CRM and revenue tools
- Provide supplementary training material to promote a deeper understanding of the partner compensation structure
- Develop, evaluate and implement Sales Incentive plans to drive partner revenue while tracking ROI
- Provide guidance to HR and Organizational leadership
- Preparing and posting journal entries based on calculations and accruals for bonus, salary and benefit items
- Reconciling and preparing analysis of accrual accounts
- Preparing monthly “report cards” for bonus calculations
- Accruals and general ledger entries for compensation related items such as bonus, payroll, employee benefits, insurance
- 1-2 years' experience in compensation analysis and/or business forecasting an asset
- BA/BS in Business Administration, Finance, Economics, or similar field
- 5 years+ of experience in compensation, financial analysis, sales support, or related field, preferably in the IT industry
- Experience in managing processes and controls in a Sarbanes-Oxley environment
- Experience working in a global organization with collaboration across geographies prefered
- Superior analytical skills, with a strong understanding of corporate accounting and finance concepts
Compensation Job Description
- Preparing and analyzing account reconciliation of balance sheet and profit/loss accounts
- Comparing payroll output to input documents
- Provide consultative advice to business partners on pay policy and plan document interpretation
- Manage multiple projects for cross functional teams including all levels of management in the organization
- Demonstrates a broad understanding of technical issues and alternatives for selecting an appropriate solution
- Oversees the annual salary and bonus review process
- Provide comprehensive analyses on accrual strategy, competitive market position and trends
- Manage the annual bonus and merit process for Corporate and all US labels.Provide guidance, support and direction to managers and other colleagues
- Participate, collaborate and engage as a leader with the greater Human Resources team and key internal stakeholders while establishing credibility, providing broad thought leadership and developing strong relationships
- Provide senior management comprehensive reporting of competitive pay position versus marketplace
- Expert ability to document compensation processes
- Detail oriented with a natural interest in identifying and fixing problems
- Ability to manage and complete multiple tasks, set priorities and meet deadlines
- Prior exposure to compensation functions and awareness of fundamental concepts such as broad-based compensation programs (base/bonus/equity), pay for performance, benchmarking/market data, job evaluation
- An Intern must be working toward a Bachelor’s or Master’s degree in business Administration, with a concentration in accountancy, economics, finance or human resources
- Previous experience with compensation analysis tools Comp Analyst, Mercer, World at Work, Salary.coCm
Compensation Job Description
- Counsel recruiting team and HR community on structure of pay packages to be offered to prospective candidates
- Conduct ad-hoc analyses to evaluate and recommend pay adjustments to maintain internal equity and external competitiveness
- Responsible for the design, development and implementation of market leading yet cost-effective salary and equity programs to build a unified culture
- Review organizational structure, job evaluations, and financial statistics and negotiate final program
- Develop techniques to compile, prepare and present data in response to special requests from internal divisions, survey companies and the general industry
- Understand the customer needs and design work plans accordingly
- Track and manage how compensation policies and practices align with the pay for performance principle
- Provide compensation consulting and analysis for North American Corporate, Retail and Distribution/ Consumer Service business units with 1,700 Corporate employees and 9,000 store-based employees
- Implement global job evaluation initiatives aligned with our talent management strategy
- Contribute on projects and teams working on major initiatives (for example) global HRIS implementation
- Proficient knowledge in Compensation industry trends and methodology
- Compensation experience within financial services preferred
- Monitoring trends in the competitive market and ensure programs continue to align with best practices and support the attraction and retention of qualified talent
- Ability to work cross-functionally and partner, collaborate, and influence with various functions involved in the compensation management process
- Three years Compensation or Human Resources experience
- Five years Compensation, Human Resources, or HRIS experience
Compensation Job Description
- Co-lead the global year-end compensation review process with heads of Corporate and Asia Compensation
- Manage the short term incentive program, including design, monitoring effectiveness and administration
- Develop and recommend competitive and compelling offers to enable filling of critical roles
- Counsel people managers and business partners on individual salary treatment
- Ensure proper management of job coding and system job hierarchy in concert with HR Process and Systems team
- Manage attractive and relevant communication to employees to answer queries on plans and keep documents and FAQs up-to-date
- Ensures compliance on pay and wage related matters (minimum wage, FLSA)
- Accountable for related SOX controls
- Analytical and critical thinking ability
- Experience working with and/or implementing global job evaluation/job leveling
- Must have a Bachelor’s degree in an Business Administration, Human Resources, or a similar discipline
- Previous experience with Financial Analysis, Journal Entries, Month-end Close, Payroll Accounting, and Reconciliations
- Must be in an undergraduate degree program during the course of the internship
- Must have a strong academic record (3.5+ GPA preferred)
- Strong interest in HR
- 1-3 years HR and/or compensation experience
Compensation Job Description
- Knowledge of government regulations as they apply to compensation base and incentive compensation programs
- Intermediate and Advanced Excel skills are preferred
- Experience working in US headquartered multinational corporate office is a plus
- Quality written & verbal communication, interpersonal and presentation skills
- 6-10 years of experience in compensation design, management and/or consulting
- Experience in or working with the retail, luxury, and/or global consumer products industries is a plus
- Compile benefits and costing data for labor relations team in support of collective bargaining agreement negotiation process
- Implementation – Partner with training & support peers on the rollout of new tools and systems via training materials and post-launch support resources for longer-term incentive plan engine solutions
- Order to partner in the design programs that meet business line and corporate objectives
- Provides support to management in writing job descriptions and manages the on-going maintenance of job descriptions the job code table in PeopleSoft
- Use judgment that is in consistent with standards, practices, policies, procedures, regulation or government law
- Knowledge of principles and practices of personnel administration
- Must possess high levels of both analytical and conceptual thinking
- 10+ plus years of compensation experience as an individual contributor
- Position requires a bachelor’s degree (Master’s degree preferred) and 10-15 years of demonstrated compensation experience
- Demonstrated knowledge of current market trends and leading compensation practices to attract top talent