What are the responsibilities and job description for the Compensation Analyst position at Hamamatsu Corporation?
Summary:
The Compensation Analyst is a highly strategic individual contributor responsible for the design, development, and administration of the organization's total rewards framework, encompassing compensation, organizational job architecture, and performance management programs. This role ensures our programs are competitive, compliant, and aligned with corporate strategy to attract, motivate, and retain top talent across the organization.
Key Responsibilities:
Compensation Program Management
The target base salary for this role at commencement of employment is expected to be between $95,000 - $125,000 annually. Final pay determinations will depend on various factors, including, but not limited to geographical location, experience level, knowledge, skills and qualifications.
Benefits
Hamamatsu offers a competitive salary and excellent benefit package for full-time employees which includes: Medical, Dental, Vision, Prescription, Life Insurance, Vacation/Sick/Personal Time, and Retirement Plans.
The Compensation Analyst is a highly strategic individual contributor responsible for the design, development, and administration of the organization's total rewards framework, encompassing compensation, organizational job architecture, and performance management programs. This role ensures our programs are competitive, compliant, and aligned with corporate strategy to attract, motivate, and retain top talent across the organization.
Key Responsibilities:
Compensation Program Management
- Oversees the development, implementation, and administration of all compensation programs, including base pay, incentives, and recognition programs.
- Monitors the effectiveness of existing compensation practices and proactively recommends changes that are consistent with compensation trends, regulatory requirements, and corporate objectives.
- Oversees participation in relevant salary surveys and monitors salary survey data to ensure corporate compensation objectives are achieved.
- Provides expert advice and guidance to department managers on all pay decisions, policies, and guideline interpretation.
- Develops, maintains, and implements employee pay grade structures, ensuring consistency and internal equity across the organization.
- Serves as the primary source of expertise for VPs and Managers regarding job architecture, job descriptions, job evaluations, and strategic compensation analysis.
- Provides expertise and oversight to ensure that new jobs, management levels, and departments make logical sense within the overall organizational hierarchy and strategic framework.
- Manages the employee performance review process. Identifies and implements systemic changes to the performance reviews to better assess employee performance, and motivate and develop employees.
- Partners with department managers to create clear and actionable career paths for employees, identifying and creating various job levels with corresponding pay opportunities and supporting development plans for employee career growth.
- Leads and facilitates the organization's succession planning initiatives to ensure a pipeline of prepared internal candidates for key roles.
- Maintains all organizational job descriptions, ensuring they are accurate, up-to-date, and consistently formatted for organizational design, compensation, and evaluation purposes.
- Ensures all compensation and organizational structure practices comply with federal, state, and local laws and regulations.
- Bachelor's degree (preferably in Human Resources, Business Administration, or a related field)
- Strong knowledge of compensation practices, principles, and the regulatory environment
- Progressive experience in Compensation and/or Total Rewards, with a focus on job architecture and program design
- Proven experience managing compensation and performance programs
- Experience in organizational design and developing comprehensive job leveling structures
- Excellent analytical, communication, and project management skills with the ability to influence senior leaders
The target base salary for this role at commencement of employment is expected to be between $95,000 - $125,000 annually. Final pay determinations will depend on various factors, including, but not limited to geographical location, experience level, knowledge, skills and qualifications.
Benefits
Hamamatsu offers a competitive salary and excellent benefit package for full-time employees which includes: Medical, Dental, Vision, Prescription, Life Insurance, Vacation/Sick/Personal Time, and Retirement Plans.
Salary : $95,000 - $125,000