What are the responsibilities and job description for the Compensation Specialist position at NOVAE LLC?
Job Summary: The Compensation Specialist is responsible for analyzing, developing, and administering compensation programs that attract, retain, and reward employees while ensuring internal equity and market competitiveness. This role will support salary structures, job evaluations, pay benchmarking, and incentive programs in alignment with the company’s compensation strategy and business goals.
Compensation Analysis & Administration
- Conduct market research and benchmarking to ensure competitive salary structures.
- Assist in the design, implementation, and maintenance of compensation programs, including base pay, incentives, and other rewards.
- Evaluate job descriptions, determine appropriate salary grades, and recommend compensation adjustments.
- Participate in salary surveys, analyze data, and prepare reports to support compensation decision-making.
- Support the annual salary review and merit increase process.
Compliance & Policy Management
- Ensure compliance with federal, state, and local compensation laws and regulations (e.g., FLSA, Equal Pay Act).
- Maintain compensation policies and procedures to ensure consistency and fairness.
- Provide guidance to HR and managers on pay practices, job classifications, and salary structures.
Collaboration & Communication
- Work closely with HR, and business leaders to support compensation-related initiatives (i.e., annual merit/compensation cycle)
- Provide educational training sessions to managers and employees on compensation programs, policies, and best practices.
- Assist in compensation-related projects, including pay equity analyses and incentive plan evaluations.
Qualifications & Skills:
- Education: Bachelor’s degree in Human Resources, Finance, Business Administration, or a related field.
- Experience: 2–5 years of experience in compensation, HR analytics, or total rewards.
- Strong analytical and problem-solving skills with the ability to interpret complex data.
- Proficiency in HRIS systems and compensation tools (e.g., Workday, PayScale, MarketPay).
- Knowledge of compensation laws and regulations.
- Excellent attention to detail, communication, and interpersonal skills.
Working Conditions:
- Primarily operates in a fast paced, office environment within a manufacturing organization.
- Significant time will be spent in production being a resource to employees.
- Occasional travel to various worksites and meetings, mostly local.
- Responsibilities require willingness to work outside of typical office schedule.
