The Compensation Analyst will play a critical role in managing and analyzing our compensation programs. This position involves conducting market research, analyzing internal equity, and providing data-driven recommendations to ensure that our compensation strategy aligns with our organizational goals and promotes employee satisfaction.
Key Responsibilities:
- Market Analysis: Conduct comprehensive salary surveys and analyze compensation data to benchmark our pay structures against industry standards.
- Data Management: Maintain and update compensation data in HRIS, ensuring accuracy and compliance with internal policies and external regulations.
- Compensation Structures: Assist in developing, implementing, and evaluating compensation programs, including base pay, bonuses, and incentives.
- Internal Equity: Analyze job descriptions and employee data to ensure internal equity and competitiveness.
- Reporting: Generate and present detailed reports on compensation trends, findings, and recommendations to management and HR teams.
- Policy Development: Collaborate in the creation and updating of compensation policies and guidelines.
- Support: Provide guidance to HR partners and management on compensation-related inquiries and best practices.
- Compliance: Ensure compliance with federal, state, and local regulations regarding compensation practices.
Qualifications:
- Bachelor's degree in Human Resources, Finance, Business Administration, or a related field.
- 2+ years of experience in compensation analysis or a related role.
- Strong analytical skills with proficiency in Excel and HRIS systems.
- Knowledge of compensation principles, practices, and relevant regulations.
- Excellent communication and presentation skills.
- Detail-oriented with the ability to manage multiple projects and deadlines.
Preferred Qualifications:
- Certified Compensation Professional (CCP) or similar certification.
- Experience with compensation software and tools. Workday experience preferred.
- Familiarity with job evaluation methodologies.