WHAT DOES A COMPENSATION SPECIALIST DO?

Updated: Mai 16, 2025 - The Compensation Specialist conducts thorough salary surveys and market pricing analysis to ensure competitive compensation structures are in place. This role is crucial in researching and developing best practices in compensation, while also studying economic trends that affect pay scales. Additionally, the specialist collaborates with various stakeholders to refine compensation processes and resolve any related issues effectively.

A Review of Professional Skills and Functions for Compensation Specialist

1. Compensation Specialist Duties

  • Salary Survey Participation: Participates in, conducts, and/or responds to salary and wage surveys, market reviews, and pay compression studies.
  • Salary Adjustment Analysis: Analyzes data and makes corresponding salary adjustment recommendations.
  • Salary Structure Updates: Assists in updating salary structures and step systems.
  • Increase Monitoring: Monitors, tracks, and processes step and promotional increases.
  • Salary Adjustment Preparation: Participates in the preparation and review of data for system-wide or classification-wide general or equity salary adjustments.
  • Bonus Program Administration: Administers various bonus programs (i.e., sign-on, retention, referral, etc.) and interim adjustments.
  • Program Material Updates: Ensures related program materials are updated on an annual basis (i.e., agreements, communication).
  • Agreement Verification: Verifies proper completion of agreements and related forms.
  • Payment Monitoring: Schedules installments and monitors system for future dated payments, follows up on approvals, ensures timeliness, and verifies the need for continued payment.
  • HR Training Development: Participates in the development and presentation of Human Resource training sessions for MHS team members.

2. Compensation Specialist Details

  • Compensation Policy Advising: Advises managers and HR business partners on the application of various compensation programs and policies.
  • Salary Review Management: Manages and monitors the annual salary review and payment process for short-term incentive program bonuses.
  • Remuneration Policy Design: Participates in the design, development, and revision of remuneration policies such as salary structures, conditions of employment, wage management, and short-term incentive compensation programs.
  • Pay Equity Management: Manages pay equity maintenance exercises.
  • Autonomous Analysis: Conducts analysis, validates results, and makes recommendations autonomously.
  • Compensation Resource: Acts as a resource person and trainer for the HR community with respect to compensation.
  • Compensation Survey Participation: Participates in compensation surveys and other studies related to its field of expertise.
  • Market Data Analysis: Analyzes market data and makes necessary recommendations to properly position the company's remuneration in relation to its reference markets.
  • Total Compensation Projects: Participates in different projects related to total compensation.

3. Compensation Specialist Responsibilities

  • Managerial Collaboration: Collaborates with managers or supervisors regarding existing or new positions.
  • Job Description Creation: Creates and/or updates job descriptions for all exempt and non-exempt office positions.
  • Job Description Approval: Ensures that job descriptions are approved by supervision and the incumbents.
  • Job Analysis: Analyzes existing jobs and conducts internal research for cohesiveness of job titles and pay ranges.
  • Compensation Inquiry Response: Answers questions concerning compensation.
  • Market Pricing: Performs market pricing for company positions.
  • Liaison Role: Acts as a liaison with management, all departments, and outside consultants.
  • Program Facilitation: Facilitates and coordinates various programs such as Talent Development Discussion (TDD) and the annual 25 Year Club Get-Together.
  • Compensation Articulation: Articulates compensation and classification concepts to non-subject matter experts.
  • Compensation Communication Development: Develops communications on a variety of compensation matters, projects, and policies.
  • Trend Analysis: Analyzes and interprets compensation and classification trends and metrics.
  • Salary Structure Evaluation: Accurately evaluates market analysis and salary survey results to make recommendations on salary structures to ensure competitive position in the market.

4. Compensation Specialist Job Summary

  • Compensation Program Administration: Participates in the ongoing administration of the various bargaining and non-bargaining compensation programs.
  • Classification Reviews: Conducts classification reviews and job audits.
  • Position Description Composition: Composes and revises position descriptions, accurately describing job content, and consolidates and streamlines.
  • Position Evaluation: Completes the position evaluation/classification process by researching and analyzing data and assigning appropriate salary grade, job code, title, pay, union, and FLSA status.
  • Data Entry Accuracy: Ensures corresponding classification and position data are entered timely and accurately within the human resource information system (HRIS).
  • Quality Control Management: Performs quality control on job descriptions and other functionally relevant documents posted on the MetroHealth Intranet (MIV) and within the HRIS.
  • Document Updates: Ensures timely update and/or removal of related documents from MIV and HRIS.
  • Salary Data Analysis: Researches and analyzes salary data, making recommendations regarding appropriate placement of classifications on salary schedules.
  • Salary Recommendations: Reviews and makes salary recommendations for new hires, internal promotions, reclassifications, and other employee actions.
  • Compliance Assurance: Ensures consistency, internal equity, and external market competitiveness of requested actions/recommendations as well as compliance with compensation policies, guidelines, and procedures.

5. Sales Compensation Specialist Accountabilities

  • Commission Process Management: Manages the monthly/quarterly/annual commission process for the sales, marketing, and operations teams, understanding and applying the commission plan consistently, ensuring commission calculations comply with the plan, and managing exception requests versus policy.
  • System Development: Develops, maintains, and updates systems and processes critical to the reporting and tracking of sales and marketing team metrics.
  • Change Management Implementation: Implements plans for change management to support business expansion and growth.
  • Data Collaboration: Works with data analysts to ensure all required information necessary for reporting and evaluating sales metrics and KPIs is received.
  • Sales Plan Evaluation: Works closely with Sales Leadership to evaluate and provide insight into the effectiveness of sales compensation plans across all Sales teams.
  • Relationship Building: Builds relationships with current sales leadership team members and cross-functional team members including product, finance, and data analyst members.
  • Transparent Communication: Communicates transparently and courageously to members of the sales leadership team, noting areas of concern, weakness, opportunity, expansion, and growth.
  • Data-Driven Analysis: Uses supporting data to not only draw conclusions but also support opinions.
  • Team Player Support: Serves as a dynamic team player who is an integral part of the sales team and helps drive the business to the desired level of performance.
  • Reporting Generation: Generates standard and ad hoc reporting and analysis.

6. Compensation Specialist Functions

  • Compensation Communication Preparation: Prepares compensation communiqués.
  • Compensation Guidance Provision: Provides compensation administration guidance to MHS leadership.
  • HRIS Management: Enters, reviews, approves, and audits employee information in HRIS.
  • Special Project Support: Provides special project support to the various Human Resource functions.
  • Trend Awareness: Keeps current with compensation trends, developments, and practices through active participation in departmental learning initiatives, continuing education courses, professional organizations, seminars, and workshops, reading current literature, and maintaining professional contacts in the community.
  • Teamwork Incorporation: Incorporates principles of teamwork in the resolution, completion, and follow-up of responsibilities.
  • Cultural Sensitivity: Displays sensitivity to and understanding of various cultural, ethnic, racial, and socioeconomic backgrounds.
  • Pricing Proposal Creation: Creates pricing proposals for fixed and mobile services.
  • Sales Strategy Proposal: Proposes the most suitable sales & monetization strategies.
  • Sales Target Setting: Sets monthly sales targets for Retail and Telesales channels.
  • Market Trend Following: Follows market trends from and other industries.
  • Expert Support Provision: Provides expert support on projects for the Serbian and Montenegro market.

7. Compensation Specialist Job Description

  • Equity Program Management: Manages the day-to-day operation of the company’s equity program to ensure timely release, settlement, and reporting of transactions.
  • Report Review: Reviews reports, outputs, accounts, and coordinates plan activity to assure proper processing within required deadlines.
  • Grant Documentation Preparation: Prepares all grant documentation for management approval and maintains up-to-date records.
  • Cross-Department Coordination: Coordinates with Payroll, Finance, Tax, Legal, and HR for administration and assessing the financial impact of transactions.
  • Material Design: Designs the development of employee education and reference materials and serves as the primary point of contact for employee inquiries regarding the equity plan.
  • Process Implementation: Implements and monitors processes, identifying areas for streamlining and increased efficiency.
  • Compensation Responsibility: Has the potential to take on additional responsibility in the area of compensation and benefits, including the design, implementation, and benchmarking of equity compensation programs.
  • Pay Guidance Provision: Provides guidance with pay philosophy and state-specific pay laws.
  • Employee Relations Advising: Advises on employee relations issues to include addressing employee/supervisor concerns, progressive discipline, and escalating matters when appropriate, including the termination process.
  • Conflict Resolution Assistance: Assists employees and supervisors to settle work-related conflicts through counsel, advice, and best practices.
  • Positive Work Experience Promotion: Promotes partnerships with all employees and the leadership team to foster a positive work experience for all employees.

8. Compensation Specialist Overview

  • Equity Transaction Management: Responsible for equity and cash award transactions including termination processing, restricted stock unit and cash award distributions, stock option exercises, and dividend equivalent payments.
  • Award Assistance: Assists manager with large-scale restricted stock unit and cash award vestings and distributions.
  • Reporting Responsibility: Responsible for providing standard ad hoc reports as well as month-end and quarterly reconciliations and reporting (e.g., data files for finance, etc.).
  • Data Reconciliation: Runs reports, reconciles data, researches, and resolves discrepancies.
  • Issue Resolution Assistance: Assists with researching and resolving basic award-related questions and issues.
  • Grant File Review: Activities may also include assisting with the review of monthly award grant files and providing other assistance.
  • Award Administration Support: Handles day-to-day activities in support of Equity and Cash Award Administration function.
  • Support Analysis: Support requires analysis, assessment, and review to determine appropriate actions and outcomes.
  • Liaison Role: Acts as a liaison with Stock Plan Services provider, Legal, Finance, payrolls, HRIS, etc.
  • Award Vesting Management: Responsible for all aspects of scheduled equity-based and/or cash award vesting/distributions.
  • Stock Option Management: Manages all internal aspects of stock option exercises including tax collection, payroll, accounting, etc.

9. Compensation Specialist Details and Accountabilities

  • Database Testing Assistance: Assists with testing of various Stock Plan Services provider database enhancements including annual LTI award termination rules, transition to new systems, etc.
  • Month-End Reconciliation: Responsible for month-end reconciliation of outstanding amounts on Stock Plan Services provider’s database (equity-based, Restricted Cash, and MBD awards).
  • Customer Service Support: Assists with customer service support, updates the customer service database.
  • Inquiry Response: Researches and responds to routine telephone and email inquiries, and creates and reviews award termination treatment statements.
  • Compensation Analysis: Reviews and analyzes reports and data relating to the Company's executive and equity compensation policies, programs, and practices.
  • Technical Issue Research: Researches various technical issues (e.g., accounting, tax, and legal/regulatory requirements) as these issues apply to the Company’s compensation programs and makes preliminary recommendations regarding their resolution.
  • Contract Preparation: Prepares and redacts employment contracts for all new employees.
  • Visa Application Support: Supports the Senior HR Manager on visa applications and immigration reporting requirements.
  • Cost Analysis: Analyzes staff cost evolution and outsourced staffing cost evolution.
  • Report Preparation: Prepares reports as required (e.g., Corporate Social Reporting).

10. Compensation Specialist Tasks

  • Compensation Process Support: Supports the Compensation & Benefits (C&B) team in the annual compensation process (global coordination, data checks, and analysis).
  • Benchmark Data Support: Supports the HR organization in the usage of compensation benchmarking data.
  • Plan Document Preparation: Prepares documents for the annual RSU/share plan roll-out.
  • Database Management: In charge of keeping up to date the C&B databases.
  • Technical Expertise Provision: Provides technical expertise for the job matching process.
  • Policy Peer Review: Acts as a peer reviewer of various C&B policies and procedures.
  • Annual Report Preparation: Prepares documents for the Annual Report and Remuneration & Nomination Committee (memos, presentations in PDF/PPT).
  • Compliance Reporting: Prepares reports in compliance with auditors/regulators.
  • C&B Team Participation: Plays an active part in the global C&B team of 3 employees.
  • Payroll Coordination: Works closely with external payroll provider to ensure a weekly payroll in accordance with employment contracts, enterprise agreements, awards, and relevant State and Country legislation.
  • HR Reporting Management: Develops and manages reporting to support HR decision making.
  • External Relationship Management: Manages external relationships for payrolls and Company Superannuation plans.
  • Database Maintenance: Maintains database security, accuracy, and data integrity.

11. Compensation Specialist Additional Details

  • Salary Survey Conduct: Conducts salary surveys and analyzes data to determine necessary market adjustments.
  • Compensation Best Practices Development: Participates in the research and ongoing development of best practices for compensation and performs market pricing analysis.
  • Economic Trend Analysis: Studies and tracks economic indicators and trends, among other factors, to ensure the State of Missouri provides competitive salary structures.
  • Salary Equity Monitoring: Monitors team member salaries to determine if inequities exist among classifications.
  • Compensation Trend Analysis: Analyzes trends in compensation and develops understanding through reporting.
  • Customer Partnership: Partners with internal and external customers to fulfill ad hoc compensation requests.
  • Process Improvement Analysis: Analyzes current classification and compensation processes and identifies existing/potential problems to help with process improvements.
  • Data Visualization: Works with large amounts of data and creates visually appealing data displays.
  • Issue Resolution Collaboration: Collaborates with business partners to resolve classification and compensation issues and achieve desired outcomes.
  • Job Analysis Performance: Performs job analysis and evaluation.
  • Total Rewards Strategy Partnership: Partners with benefit providers to develop a total rewards strategy and communication plan.
  • Stakeholder Liaison: Liaises with a variety of stakeholders on compensation discussions.

12. Compensation Specialist Essential Functions

  • Pay Increase Approval: Approves and signs Store Associate pay increases via Employment Status Change Forms.
  • Position Change Management: Receives and manages Position Change Forms for new positions, pay changes, and promotions.
  • Compensation Analysis Completion: Completes appropriate Compensation Analysis for new positions, pay changes, and promotions.
  • Change Letter Preparation: Prepares and provides promotion, wage change, title change letters, etc.
  • Minimum Wage Administration: Oversees administration of Federal, State & County Minimum Wage increases and changes to current Associates.
  • Survey Submission Management: Manages the completion and submission of annual Compensation surveys.
  • Regulatory Compliance: Ensures compliance with FLSA, DOL, federal, state, and local regulations regarding pay and compensation.
  • Incentive Plan Implementation Support: Supports the implementation of a new long-term incentive plan admin tool solution in line with business requirements.
  • Admin Tool Collaboration: Collaborates with IT, external providers, and other stakeholders to enhance the current admin tool including testing of defined changes.
  • Incentive Plan Management: Supports the compliant and seamless management of Long-Term Incentive Plans (e.g., payouts, award allocation processes) and assists with the coordination of all payrolls.
  • Complex Report Programming: Maintains and programs a variety of complex reports and queries.
  • Ad Hoc HR Support: Provides ad hoc support to other team members for HR compensation-related processes.

13. Compensation Specialist Role Purpose

  • HR Collaboration: Collaborates with the Director of HR Operations on a variety of projects, including program design, analysis, and the implementation of new programs.
  • Salary Recommendation: Makes salary recommendations/quotes for new hires and current employees transitioning into new positions based on pertinent research and the consistent application of criteria.
  • Compensation Analysis: Performs compensation analyses and annual compensation evaluations for current, new, or revised positions as directed by Leadership.
  • Job Description Evaluation: Works closely with managers to evaluate current, new, or revised job descriptions to determine details such as classification and salary and ensure job descriptions are aligned with the market for accurate external benchmarking.
  • Leadership Recommendations: Makes recommendations to leadership on the status, description, classification, and salary ranges of all jobs.
  • Compensation Dispute Advising: Advises on the resolution of job classification and salary complaints/disputes and employee relations matters as they relate to compensation.
  • Compensation Practice Support: Provides advice, coordination, training, and support in the effective and consistent application of the Coalition’s compensation practices.
  • Policy Development Assistance: Assists in the development and documentation of policies & procedures to streamline processes and ensure compliance with regulatory requirements.
  • Organizational Equalization: Functions as an “equalizer” for the organization by ensuring fairness for employees and the organization.
  • Leadership Support: Works with leaders to ensure the agency is meeting the needs of employees while focusing on future growth and success of the organization.

14. Compensation Specialist General Responsibilities

  • Committee Meeting Attendance: Attends agency committee meetings as requested, serving as a specialized knowledge resource in key areas of compensation and point of contact for general questions related to CCH’s compensation practices.
  • HR Dashboard Development: Assists Director of HR Operations in the design, development, testing, implementation, and maintenance of HR Metrics & Analytics Dashboards.
  • Data Analysis: Regularly and accurately collects and analyzes complex data, reports findings to leadership, maintains up-to-date compensation dashboard data.
  • Compensation Research: Researches different areas involving compensation, including compensation statistics and competitive compensation practices in the job market.
  • Survey Coordination: Coordinates projects such as CCH annual survey participation and the evaluation of current and new data sources to maintain CCH’s compensation practice alignment.
  • HRIS Collaboration: Works with HRIS and other Data team members to ensure that the Dayforce system (a Ceridian product) and other relevant platforms meet compensation needs and are updated to reflect changes to salary structures, performance programs, etc.
  • System Data Integrity: Adds new or revised position titles to the Dayforce system, backdating old titles to maintain data integrity.
  • Legal Compliance Monitoring: Stays on top of changing federal and state compensation laws and regulations, as well as the shifting needs of the organization’s workforce.
  • Vendor Relationship Oversight: Oversees relationships with vendors and monitors spend to ensure maximization of return on investment.

15. Compensation Specialist Key Accountabilities

  • Job Architecture Understanding: Understands Wellstar job architecture and job families to assist with job descriptions and salary survey submissions.
  • Job Table Management: Manages ongoing job table maintenance in correspondence with Total Rewards team stakeholders and HR data specialists, HRIS team, and Compensation Dept colleagues.
  • Inquiry Resolution: Resolves routine inquiries and redirects more complex inquiries to respective team members for resolution.
  • Case Management Responsibility: Responsible for case management of requests from internal clients, including tracking, metrics capture, and reporting.
  • Data Repository Management: Manages the maintenance and organization of the Compensation team’s repository of data.
  • Policy Question Addressing: Addresses policy/process/procedural questions from internal clients.
  • Project Support Assistance: Assists with QC and other project-related support on System market adjustment projects, cyclical compensation events (i.e., PPP, merit), and/or other special projects/initiatives.
  • Bonus Inquiry Handling: Handles special bonus inquiries in accordance with established policy.
  • Approval Securing and Processing Assistance: Secures requisite TR approvals and assists with processing per policy and established process.
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