The Compensation Analyst is responsible for a wide scope of activities associated with the implementation and communication of compensation programs and policies. Provides data analysis, review and recommendations; preparation and presentation of compensation materials; and development and implementation of compensation training and job aids. Performs data analysis to identify business needs, and complete trend analysis to provide recommendations. Activities include, but are not limited to: benchmarking, market analysis, annual salary review, salary administration, job evaluation, compensation communications and special studies. The Compensation Analyst participates in projects to assess current practices, and develops and recommends innovative enhancements. Partners with the HR Business Partners and management by providing compensation expertise and ensures compliance with applicable Federal and State employment and compensation laws.
ESSENTIAL FUNCTIONS:
Business Unit Support- Partner with the HR Business Partners regarding day-to-day Compensation requests and to administer the annual merit and bonus programs. Develops recommendations and communication as required. 10%
Data Analysis & Reporting- Develops compensation analysis and models the potential impact of new program design. Works with the HRIS team to develop or enhance reports. 25%
Conduct job evaluations. Work with HR Business partners and management to understand and define the role. Utilize tools and guidelines to evaluate jobs. Determine exemptions status, market range, and job alignment. 25%
Responsible for competitive market research. Participates in salary surveys and maintains the compensation market pricing database. Conducts analysis of selected positions as needed, as well as monitoring the company’s overall competitive position. Assists in the development and/or updates geographic structures and/or step rates annually. 20%
Salary & Bonus Administration - Assist in the development of annual budgets and merit matrices. Work with team members to administer the annual merit and bonus programs. May draft program communications and recommends annual merit increases as required. 25%
Project Management & Compliance - Conducts analyses and reviews to ensure compliance with applicable DOL and minimum wage laws. Participates and/or leads compensation projects as needed. Tracks and reports on the status of projects for Compensation Team. 5%
ALL OTHER DUTIES AS ASSIGNED
EXPERIENCE/QUALIFICATIONS:
Minimum Degree Required: Bachelor’s Degree in Finance, Data Analysis, Human Resources or a related field.
Certificate(s) or License(s): Attainment toward Certified Compensation Professional (CCP) is desired.
Experience: 2-4 years of Compensation experience; Retail industry experience a plus.
NOTES:
Employer will assist with relocation costs.
Additional Salary Information: Relocation assistance available
