The Compensation Analyst will be responsible for assisting with the design, review, implementation, and administration of compensation programs. This position will collect, analyze, and maintain data to ensure the organization can attract and retain high quality employees. They will ensure the company provides appropriate pay based on market data and trends.
- Supports annual merit and variable pay programs, including configuration, reporting, system processing, and related analyses. Assists in the administration of compensation programs, including project managing year-end merit and variable pay compensation processes.
- Addresses moderate to complex compensation questions using knowledge of compensation, human resources, and internal policies.
- Participate in compensation surveys, manage market data, analyze job descriptions and classifications, benchmark jobs against survey data and other market intelligence to determine competitive compensation
- Performs job evaluations as requested by internal stakeholders to evaluate and market price new and revised jobs.
- Work with HR Business Partners to maintain job descriptions and to ensure descriptions accurately reflect the work being performed by incumbents. Collaborates with internal employment counsel on FLSA exemption determinations. Sets up, maintains, and manages job-related data in the Workday HCM system.
- Prepare ad hoc reports and spreadsheets as requested.
- Assist with compensation projects and processes and serve as resource for the Compensation module within the Workday HCM system through testing and continuous improvement.
- Works with leadership to identify and recommend program changes as necessary, providing input on compensation strategy, policies, programs, and communications in consideration of the needs of the business lines.
- Develop and help deliver compensation training and communication.
- Use analytics to monitor the effectiveness of compensation plans, programs, and policies.
- Participates in departmental and interdepartmental projects. May act as project lead for compensation-oriented projects.
Scope and Nature
This position performs works on basic to moderately complex tasks within the compensation function or on specific areas of a broader project. Performs most duties under broad supervisory direction.
- 3+ years as a compensation analyst.
- BS/BA degree in a related discipline.
- Certification in compensation such as CPP, GRP, CSCP, etc. preferred.
- Demonstrate strong knowledge of current principles, practices, methods and techniques of compensation administration and best practices.
- Broad knowledge of HR principle and practices.
- Experience with compensation/base pay modeling, salary structures, incentive bonus design, and bench marking jobs to market and market pricing.
- Advanced Excel skill including Pivot Tables, VLOOKUP, Formulas, If Statements, etc.
- Excellent analytic, planning and organization skills and attention to detail.
- Strong verbal and written communication skills with the ability to interact with all levels of the organization.
- Ability to multi-task, prioritize and work independently with minimal supervision.
- A team player who possesses the ability to work in an agile and learning environment.
- Self-starter who researches a problem for the root cause and asks the ‘why’ to determine the best resolution.
- Agility to operate in a growing organization with processes and procedure are in development and not always clear.
- Demonstrated consistent success operating with rapidly shifting priorities, deliverables, and timelines; is energized by this environment.