Sr. Compensation Analyst
- Location: Madison, WI
- Start Date: 6/24/2020
- Job ID: 20-00308
- Posting Date: 6/24/2020
- Job Type: Contract
TheSenior Compensation Analystleads and participates in the administration of job evaluation, base pay, and short-term incentive pay programs. The Senior Compensation Analyst may also be responsible for merit, bonus, long-term incentive or acquisition programs. Supporting the compensation program and ensuring the compensation integrity as well as creating close partnerships with all levels of the organization is essential to this role.
- Manages and administers all aspects of compensation plan design, salary administration, annual pay increase and short-term incentive programs, and related compensation change actions. Serves as a consultant with all leaders with regard to pay decisions and practices.
- Coordinates and manages job evaluations to ensure equitable and consistent establishment of job standards and worth and presents findings to appropriate parties. Audits jobs for content and assists managers with development and maintenance of job descriptions that accurately reflect job responsibilities.
- Responsible for managing the salary structure and job hierarchy. This includes participating in salary surveys and utilizing survey data to determine the necessity of structure shifts as well as ensuring the internal equity within the job hierarchy. Analyzes, prepares, and communicates recommendations with the appropriate executive level approvers.
- Analyzes market data as well as knowledge of market trends and the decisions of both the business units and other local employers to set the annual pay increase budget. Is responsible for ensuring and communicating to Senior Executives adheres to both pay increase and incentive plan budgets.
- Conducts special compensation analysis to determine competitiveness and develops creative design and solutions for retention and other goals of the organization.
- Responsible for ensuring compliance with all compensation related legislation, including FLSA.
- Works with Talent Acquisition team, hiring managers, and department leaders to determine the salary and bonus for offers of employment by utilizing market data as well as internal data and ensures both market and internal equity.
- Serves as a consultant to all HR Business Partners and leaders with regards to compensation philosophy and processes, as well as the administration of individual employee pay.
- Merit and bonus process: Manages merit and bonus processes ensuring. Partners with manager to develop strategy and merit and bonus programs effectiveness and are driving desired goals. Ensures programs are competitive and relevant in all compensation areas and maximum utilization of tools available. Identifies opportunities for improvement in processes and develops and provides education for leaders, HR and other business units.
- Acquisition/restructure administration: Assists manager in due diligence for any acquisitions or divestiture activity to ensure appropriate steps and processes with the utmost confidentiality. May perform analysis to identify and ensure transitions meet and all requirements for controls and legal parameters.
- Participates in and/or leads miscellaneous projects: including policy revisions, systems upgrades/implementations, alternative pay programs, project leadership, and other process improvement related projects.
- Keeps abreast of compensation best practices and industry trends and ensures all compensation programs meet those standards. May also provide mentorship and guidance to staff level compensation analysts.
- 5+ years of experience
- Strong compensation experience required
- Certified Compensation Professional (CCP) certification, or currently in pursuit of CCP designation a plus
- Ability to travel approximately 10% is required.
- Demonstrated strong analytical, math, and negotiation skills; ability to successfully perform independent in-depth analysis and present findings.
- Strong knowledge of compensation programs and laws including base pay and variable pay.
- Outstanding organizational ability.
- Must be highly proficient in Microsoft Excel.
- Proficiency in HRIS database management, analysis, logic, and report generation.
- Demonstrated ability to influence and effectively coach at all organizational levels. Ability and confidence to work as a credible partner with all levels of the Company's executive, management, and operational staff.
- Outstanding verbal and written communication skills in order to effectively develop, sell, and implement human resource programs, policies, and procedures. Above average facilitation and presentation skills.
- Attentive to detail and follow-up; deadline oriented; very strong ability to prioritize and multi-task.
- Demonstrated ability to develop and implement process enhancements and efficiencies.
- Ability to maintain high level of confidentiality and professionalism.
- Flexible work schedule will be necessary at times, depending on the employee issue and other commitments with the department.