What Is a Compensation Consultant?

Compensation Consultants assist organizations in attracting and retaining experienced employees by planning and implementing competitive compensation programs. These professionals are typically hired as contractors for specific benefits and compensation projects—whether it’s auditing existing plans and suggesting improvements or creating a new compensation structure/plan for the company.

A Compensation Consultant helps the HR team determine pay grades and benefits packages for different roles in the company by relying on relevant industry data. They ensure all compensation practices align with labor laws and are responsible for conducting employee surveys and analyzing their feedback to create compensation structures that align with the company’s budget, while also improving employee retention and job satisfaction.