Job Details
The Compensation Analyst is responsible for supporting the planning, design and administration for incentive compensation and bonus programs and processes, base pay compensation programs, market analysis, regulatory compliance, HRIS accuracy and data integrity. Engages, partners, and collaborates with a cross-functional peers and leadership team to ensure effectiveness of compensation and benefit programs.
Responsibilities:
- Collect and analyze salary survey data to benchmark compensation levels against industry standards and competitors.
- Evaluate job descriptions and conduct job evaluations to determine appropriate salary ranges and pay grades.
- Prepare comprehensive reports and presentations to communicate findings and recommendations to senior management.
- Develop and maintain the organization's salary structure, including base pay, incentives, and bonuses.
- Conduct market pricing analysis to ensure pay competitiveness and internal equity across different job roles and levels.
- Collaborate with HR business partners and hiring managers to establish appropriate salary offers for new hires and promotions.
- Administer compensation programs, such as merit increases, annual bonuses, and incentive plans.
- Ensure compliance with legal and regulatory requirements related to compensation, including FLSA and pay equity laws.
- Manage the annual salary review process, including budgeting, data analysis, and communication with stakeholders.
- Maintain accurate and up-to-date employee compensation data in HRIS systems or databases.
- Conduct ad-hoc analyses to support decision-making on compensation-related matters, such as retention initiatives or restructuring efforts.
- Develop and maintain standardized reporting metrics and dashboards to track key performance indicators and trends.
Qualifications:
- Bachelor's degree in human resources, business administration, finance, or a related field (Certified Compensation Professional (CCP) designation preferred).
- 3+ Years of experience in compensation analysis or a related field, preferably in a corporate or HR consulting environment.
- Strong analytical skills with proficiency in Excel or other data analysis tools.
- Knowledge of compensation theories, practices, and regulatory requirements.
- Excellent communication and presentation skills, with the ability to convey complex information to diverse audiences.
- Detail-oriented and organized, with the ability to manage multiple priorities and meet deadlines in a fast-paced environment.
- Experience working with WorkDay HRIS systems or compensation software is a plus.