Compensation Analyst

Compensation Analyst

Overview:

The Compensation Analyst is responsible for assisting in the administration of the annual merit and bonus programs, performing job analysis reviews for new and existing positions, managing the overall salary structure, analyzing salary parity within job families and positions, staying current on federal/regional/market changes, updating salary ranges, and making recommendations regarding compensation strategies and changes.

Qualifications:

EXPERIENCE AND EDUCATION

• Bachelors degree in a field related to position or equivalent combination of work experience and education.
• Certified Compensation Professional credential preferred.
• Minimum of 3 years of compensation experience administering compensation programs.

OTHER QUALIFICATIONS

• Proven experience with HR, workforce management (WFM), and applicant tracking (ATS) systems.
• Proficiency in Microsoft Word, Excel, and PowerPoint
• Working knowledge of compensation administration and compliance
• Solid communication skills
• Excellent organization skills
• Strong analytical skills

Essential Functions:

ESSENTIAL FUNCTIONS

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Conduct job analysis review and recommendations for all new and revised jobs
• Perform ad hoc compensation analysis as requested by business entities using internal and external salary statistics to recommend, develop and implement appropriate employee compensation structures, configure pay grades, evaluate job titles and ongoing reclassification
• Evaluate and develop executive compensation and employee incentive plans to maintain and attract talent. Partner with HR teams to ensure compensation and bonus programs are competitive
• Perform FLSA audits and required updates
• Create and maintain job families, job codes, positions, and ranges in the system
• Assist in creating workflows for compensation processes
• Analyze data between multiple systems to ensure data integrity; able to effectively convey information in legible reports to HR and executive teams
• Conduct minimum wage audits to ensure compliance with federal and state laws
• Assist in the planning, administration, analysis, and communication of the annual merit program
• Assist in the planning, administration, analysis, and communication of the bonus programs to ensure accuracy
• Responsible for system maintenance related to compensation functions; proactively ensures compensation data integrity
• Perform reviews of compensation related data during Mergers and Acquisitions
• Assist with miscellaneous compensation projects as assigned.
• Identify errors and trends in data, conduct a cause analysis, and communicate to management
• Participate in salary surveys and develops annual Total Compensation summaries
• Stay current on compensation trends and tools