Compensation Analyst
Summary:
Our client is seeking a detail-oriented and analytical Compensation Analyst with 2-5 years of experience to join our Human Resources team. The Compensation Analyst will play a critical role in developing, implementing, and evaluating compensation programs for our manufacturing workforce. This position requires a deep understanding of compensation practices, data analysis, and industry trends to ensure that our company remains competitive and compliant with regulations.
Role Responsibilities:
- Compensation Program Analysis & Development:
- Analyze and evaluate existing compensation structures to ensure alignment with company objectives and market competitiveness.
- Participate in the design, development, and implementation of new compensation programs and salary structures.
- Conduct job evaluations and market pricing for various roles within the organization, ensuring internal equity and external competitiveness.
- Data Analysis & Reporting:
- Collect, analyze, and interpret compensation data from various sources, including salary surveys, industry benchmarks, and internal metrics.
- Prepare detailed reports and presentations for senior management, providing insights and recommendations on compensation strategies.
- Maintain accurate compensation data in HRIS systems and ensure data integrity.
- Compliance & Policy Management:
- Ensure compliance with all federal, state, and local regulations related to compensation and pay equity.
- Assist in the development and maintenance of compensation policies, procedures, and guidelines.
- Support audits and provide documentation as required for compliance purposes.
- Employee & Manager Support:
- Serve as a resource for managers and HR business partners regarding compensation-related inquiries.
- Assist in the communication of compensation programs to employees, ensuring clarity and understanding.
- Provide guidance on compensation-related issues, including job offers, promotions, and adjustments.
- Market Research & Benchmarking:
- Stay informed about trends, developments, and best practices in compensation in the manufacturing industry.
- Regularly participate in compensation surveys and analyze data to identify shifts in market conditions.
- Recommend adjustments to compensation strategies based on market research and internal analysis.
Minimum Qualifications
- Bachelor's degree in business or related field, or equivalent via education and/or work experience
- 2-5 years of experience in compensation analysis, preferably in a manufacturing or industrial environment and:
- 5 years' HR generalist experience or progressively increasing experience in more than one HR functional area
- 2 years' non-agency, professional and technical recruiting experience
- Proficiency in HRIS systems, Excel, and compensation software.
- Strong analytical skills with the ability to interpret complex data and provide actionable insights.
- Familiarity with compensation survey tools and methodologies.
- Knowledge:
- Understanding of federal, state, and local regulations related to compensation and wage practices.
- Knowledge of job evaluation methods and market pricing techniques.
- Strong problem-solving abilities and the capability to work independently or as part of a team.
- Demonstrated use of keen business acumen to develop, implement, measure, and continuously improve effective programs and processes in HR functional areas
- Demonstrated knowledge of applicable legislation and regulatory guidelines, and their impact on HR and other business processes
- Demonstrated knowledge and application of HR operational policies, procedures, and practices related to more than one HR functional area
- Working knowledge of an HRMS
- Demonstrated successful working relationships with clients, suppliers, and other internal and external contacts
- Demonstrated successful and positive personal leadership, interpersonal, organizational, administrative, and communication skills
- Demonstrated continuous improvement in areas of responsibility
- Proficiency in MS Office, including intermediate level MS Excel skills
- Availability to travel, domestically, less than 10%
Preferred Qualifications
- HR experience in a technical product manufacturing environment
- Demonstrated knowledge and application of HR operational policies, procedures, and practices related to all HR functions
- Demonstrated success in human resource functional accountability for global, high growth, engineering services organization or industry served by the Company
- Demonstrated experience supporting diverse employee base spanning multiple geographic locations, domestically and internationally, in best-in-class environment
- Demonstrated knowledge and experience in the following:
- workforce planning and employment, including developing, implementing, and evaluating sourcing, recruitment, hiring, onboarding, succession planning, retention, and organizational exit programs; direct sourcing, international recruiting, and recruiting in industries served by the Company; AAP & EEO data tracking, reporting, and program requirements ensuring compliance; immigration processing for eligibility to work in the US; and visa processing for international work assignments
- human resource development, including developing, implementing, and evaluating training and development programs; talent and performance management using a 360 feedback approach; job analysis and evaluation; and developing and conducting training and educational courses
- compensation and benefits, including developing and/or selecting, implementing, administering, and evaluating US and international compensation and benefits programs and plan documents
- employer/employee relations, including developing, implementing, and evaluating employee relations programs and processes, and workplace policies and procedures based on an organization's codes of conduct and ethics, and monitoring their application and enforcement to ensure consistency and that no legal issues arise
- HRIS and payroll system functionality, and system implementations
- Reporting and predictive data analysis on HR and people matters
- risk management, including workplace health, safety, security, privacy, business continuity and disaster recovery planning, and organizational liability mitigation
- Experience with Requisite Organization principles
- Demonstrated experience in internet sourcing and use of networking systems and tools, and applicant tracking software
- SPHR, SHRM-SCP, PHR, SHRM-CP, or GPHR
Physical requirements:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. While performing the duties of this Job, the employee is regularly required to sit, walk and stand; talk or hear, both in person and by telephone; use hands repetitively to finger, handle, feel or operate standard office equipment. The employee is frequently required to reach with hands and arms. The employee is occasionally required to stand; walk and stoop, kneel, crouch, or crawl. The employee must frequently lift and/or move up to 10 pounds and occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision and the ability to adjust focus.