Compensation Analyst

Job SummaryThe Compensation Analyst administers the organization's compensation plans and programs (i.e., salary plans, annual merit, short and long-term incentives, commission plans and equity). This position assures compliance with the organization's policies and practices and local, state, and federal laws and regulations. This position supports the implementation of programs that attract and retain the high caliber of talent needed to remain competitive in the marketplace; and conducts analysis and forecasting of programs for developing recommendations.Essential Functions

• Administers Compensation Plans and Programs
• Supports the planning, design, analysis, development, implementation, and administration of the compensation plans, programs, guidelines, and processes.
• Performs incentive calculations, ensures timely payment of incentives and tracks incentive payments and plan performance.
• Conducts analyses of organization-wide, business-specific base salary program, incentive plans, and plan documents based on the organization's compensation philosophy.
• Provides analytical support and modeling for base salary and incentive programs.
• Conducts research and analysis to ensure compensation programs (e.g., base, STI, LTI, executive, etc.) remain competitive in the marketplace and are compliant with policies, laws, and regulations
• Analyzes the cost impact and organizational implications of recommended compensation changes.
• Analyzes revisions and process enhancements that are cost effective and consistent with market trends, corporate compensation philosophy, best practices, and business strategy and objectives.
• Creates ad-hoc reports to support organizational requests.
• Conducts Market Analysis
• Maintains market pricing for positions, conducts job evaluations, and assigns salary grades.
• Utilizes job descriptions for benchmarking to determine salary and grade assignment within Company's salary structure and updates job families.
• Complies with internal and external audit requirements to ensure accurate and timely internal and external reporting on compensation programs and practices.
• Remains current on applicable regulations related to total rewards to compensation (FLSA, EEOC, etc.).
• Researches and responds to inquiries and provides solutions to compensation-related issues.
• Conducts Compensation Projects
• Assists with various compensation projects (e.g., market studies, compensation surveys, impact analysis, modeling, costing, etc.) to remain competitive, compliant, and cost effective.
• Conducts annual salary reviews, merit process, pay structure design, comp-ratio, merit and other metrics and analyses.
• Conducts, prepares, analyzes, and maintains compensation surveys, summaries and benchmarks data against organization's positions.
• Builds and Maintains Internal and External Relationships
• Develops and maintains positive business relationships with associates, vendors, stakeholders, etc. which fosters an environment for mutual respect, understanding, and support.
• Maintains relationships with third-party administrators, consultants, and vendors.
• Responds to associates’ inquiries in a thorough, accurate, and timely manner.

Education

• Bachelor's Degree, Pref
  
  

Work Experience

• 2 years of experience in administering compensation for a multi-state employer, Req
  
  

Skills

• Intermediate proficiency in Microsoft Office Suite and HRIS software
• Knowledge of government regulations, filing, and compliance requirements affecting benefits programs (e.g, ERISA, COBRA, FMLA, PPACA, Section 125, HIPAA, Department of Labor, etc.)
• Ability to convey clear, concise information in verbal, written, electronic, and other communication formats; and to demonstrate active listening while engaging others
• Ability to maintain and handle matters of confidentiality with utmost tact and diplomacy
• Ability to adapt and adjust planned work through analyzing work demands, competing priorities, and tight deadlines; to understand the most effective and efficient means to accomplish tasks within the parameters of the organizational structure, processes, systems, and policies
• Strong organizational skills and the ability to handle multiple projects simultaneously and meet deadlines consistently
• Ability to anticipate and respond to the needs of stakeholders (e.g, internal and external customers, etc.) in a timely manner
• Ability to conduct research, perform analysis, and communicate results effectively
• Knowledge of company operations, policies, and procedures
  
  

CertificationsTravel Requirement