Compensation Analyst
📋 Role Overview & Responsibilities
Job Summary:The Compensation Analyst will be responsible for administering compensation policies and programs including base pay, job evaluation, and annual incentive programs. This position is responsible for building strong working relationships with HR Business Partners and management to ensure that business needs are identified and met.Responsibilities:Key Accountabilities:Partner with HR Team and Company Leaders in the job evaluation process. Establish external compensation equity and assess competitiveness by defining the labor market, identifying benchmark jobs, selecting competitor organizations, participate in and analyze pay surveys, and related data to determine the market pricing. Establish internal job equity by comparing non-benchmark to benchmark jobs along with company-wide internal levelling.Create and review job descriptions to document accurate FLSA classification, title, essential functions, qualifications, and physical and environmental requirements in compliance with federal and state regulations.Administer monthly Store Incentive Programs; ensure that pay data is accurate and processed within the assigned deadlinesManage annual compensation programs, including salary, bonus, and merit increases to be responsive to the companies' goals and competitive practices.Ensure effective and timely communication of salary increases and incentive programs, including the preparation and distribution of communication materialsMaintain pay structure by recommending, planning and implementing structural adjustments.Comply with federal, state and local legal compensation requirements by keeping apprised of existing and new employment legislation; enforcing adherence to requirements; advising management on needed actions. Research compliance-related issues and make recommendations for resolution. Prepare compensation related analyses, presentation materials, reports, etc.Prepare compensation models and standardized compensation reporting.Partner with peers in Human Resources and other departments to provide appropriate guidance regarding pay decisions, policies, and guideline interpretation and job evaluationBuild and maintain strong and effective working relationships with management, HR Business Partners, and corporate functionsEducation and Experience:Bachelor’s degree; CCP designation preferred4+ years of compensation experienceExperience in administering base and variable compensation programsExperience with WORKDAY and report writing.Skills and Behaviors:Advanced Excel, Word, and PowerPoint skillsExcellent math and analytical skillsExcellent verbal and written communicationsAttention to detail, strong organizational skills, and ability to work in a fast-paced environmentAbility to work independently under general direction
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This position is located in Secaucus, NJ with potential relocation and sponsorship assistance depending on candidate qualifications.
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