Summary:The compensation specialist is the key resource for the company's salary and incentive programs. The compensation specialist conducts analysis on internal and external salary statistics. Based on the information collected, they recommend, develop and implement appropriate changes to the organization's compensation structure. This involves configuring pay grades and evaluating new employee titles and ongoing reclassification.
They work in partnership with the rest of the human resources team to ensure that compensation programs align with the organization's strategic initiatives. This position requires applicants who are able to communicate effectively with people of all job levels and personalities. Compensation specialists must have good evaluation skills and the ability to convey information in legible reports to their human resources and executive groups. Since most compensation specialists assist in writing job descriptions, writing skills are also valuable.
Essential Duties and Responsibilities
- Develops and documents procedures to streamline processes and ensure compliance with regulatory requirements.
- Be able to understand, train, and explain the company's compensation philosophies.
- Works with HRIS staff to ensure that HRIS and compensation tools are updated and reflect changes to salary structures, bonus programs, etc.
- Reviews new positions in anticipation of recruitment to ensure appropriate classification. Based on position-specific information, determines if an existing description can be used for classification. As necessary, modifies and creates new descriptions which accurately reflect current roles, responsibilities and requirements.
- Uses published or conducts ad hoc surveys to obtain and analyze market pay rates. Makes recommendations on appropriate pay grade level. Reviews recommendations for internal equity. Prepares reports on findings and handles administrative steps to formalize recommendations.
- Reviews requests for classification review and makes classification/pay level determinations. This includes reviewing job questionnaires, conferring with managers and employees, evaluating jobs and preparing written reports on findings. Communicates with stakeholders regarding the result of compensation work.
- Researches situations as they arise related to aspects of compensation to provide clarity for resolution.
- Provides analytical support and data analysis on projects and human resource metrics.
- Reviews and recommends salary placements for new hires.
- Monitor, analyze, and recommend ongoing changes to compensation and structure (e.g. salary grades/bands and position placements) and policy to maintain desired external competitiveness, internal equity and legal compliance
- Participate in compensation related market surveys and analyze results to assess competitiveness with market trends and determine prevailing pay rates (U.S. and global)
- Respond to staff and manager inquiries related to compensation matters
- Assist in job evaluations, analysis, classifications, and job description development
- Recommends and assists in developing and implementing new and/or revised policies, processes and procedures to ensure consistent administration of the company's compensation programs.
- Prepares a variety of correspondence, memoranda, statistical summaries, reports, announcements and other materials related to the compensation.
- Provides support to the HR Team with regards to compensation and salary structures.
- Oversee the administration (preparing spreadsheets, updated data, etc.) of Annual Merit Increase and Incentive planning (Global and U.S.).
- Oversees and participates in salary surveys in support of on-going data collection.
- Recommends and assists in developing and implementing career paths comparable to the compensation structure.
- Recommends and assist in developing and administering Recognition program(s).
- Performs other related duties as assigned.
Knowledge, Skills and Abilities
- Human Resources principles and best practices in compensation including job analysis/evaluation;
- Applicable Federal, State, and local rules, regulations and/or statutes;
- Research methods and data analysis techniques;
- Excel for analysis of data;
- Employee relations principles and practices;
- Customer service principles.
- Conducting studies and preparing sound recommendations;
- Analyzing and interpreting policies, practices and procedures;
- Preparing written reports for varied audiences;
- Maintaining confidentiality;
- Conducting research, analyzing information and data and presenting findings in a concise format;
- Addressing difficult situations in a constructive manner;
- Utilizing computer technology used for communication, data gathering and reporting;
- Building a rapport with employees and managers in conducting job reviews.
- Effectively communicate both in writing and verbally;
- Handle sensitive and confidential matters and situations;
- Understand and follow broad and complex instructions;
- Work with diverse populations, both internally and externally.
- Ability to work in a multi-ethnic and multi-cultural environment.
Work Environment: The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. While performing the duties of this job, the noise level in the work environment is usually quiet
Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is frequently required to sit and reach with hands and arms. The employee is regularly required to use hands to finger, handle, or feel objects, tools, or controls and talk or hear. The employee is occasionally required to stand and walk.
Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.
Minimum Requirements: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
- Bachelor's Degree in Human Resources, Business Administration or equivalent
- Minimum two years' experience performing compensation & data analysis.
- Experience working with HRIS platforms (preferably ADP and/or Workday) and compensation management tools (preferably PayFactors).
About Asahi Kasei America: Located in New York City, Asahi Kasei America, Inc. was established in 1971 for the business of textile products and served as the liaison office in United States for Asahi Kasei's corporate research & development. We are a wholly-owned subsidiary of Asahi Kasei Corporation of Japan, which has nine core operating companies in 4 main business area; Chemicals & Fibers, Homes & Construction Materials, Electronics, Health Care. Serving as U.S. liaison for our parent company, we perform market research and handle administrative and coordinating functions for Asahi Kasei Group businesses in North America.