Job Title: Compensation Analyst

FLSA Status: Exempt

Department: Human Resources

Reports to: Director, Compensation and Benefits

Flex Work Eligible This position qualifies for the Flexible Work Policy. Employees receive 75 work days annually to work remote The initial amount of days is prorated for the first year based on start date.

GENERAL DESCRIPTION / PURPOSE:

The Compensation Analyst is responsible for analysis and assisting in the development of various domestic and global compensation programs. Responsibilities include salary survey participation, annual and ad hoc compensation benchmarking, reporting, development and maintenance of the jobs and salary structures, and coordinating and supporting the team with compensation analysis. The position develops pay recommendations as well as plays a key role in the design and delivery of global compensation programs, including base pay and incentives to attract and retain top talent.

ESSENTIAL JOB FUNCTIONS:

• Benchmark, level and classify roles in accordance with Loram's compensation philosophy. Conduct acquisition job mapping and impact analysis. Reviews internal equity and makes pay recommendations accordingly.
• Complete annual salary survey submissions and maintain market pricing tool ensuring they system has up to date market data and aging factors. Make recommendations for new or different survey sources and data cuts.
• Conduct analysis to develop, update, and maintain salary structures. Thoroughly understand the data sources and collection methods.
• Partner with the Recruiting team and HR Business Partners to support new hire and promotion offer compensation recommendations.
• Conduct market analysis on annual merit and incentive programs to ensure they are competitive and drive performance.
• Assist in the development, updating and modeling of annual incentive compensation plans.
• Prepare and present reports, graphs, spreadsheets, and other materials in support of the analysis completed and recommendations made.
• Conduct ad hoc analysis as requested.
• Administer the annual global merit increase and annual global incentive pay programs in alignment with Loram's compensation strategy.
• Develop business metrics and work with HRIS to develop reporting and maintain systems in support of the compensation programs.
• Assist in the research, analysis and providing compensation best practices to HR Partners and Leaders. Recommend new programs and policies based on best practices and business needs.
• Stay abreast of compensation regulatory and compliance requirements. Audit and make recommendations for program and policy changes to ensure ongoing compliance. Educate HR and management about changes to legal requirements and the impact to programs and policies.
• Provide tier II support to the HR Shared Services function handling escalated compensation questions or requests for information.
• Develop, document, and implement processes and procedures to effectively deliver all compensation programs.
• Other duties and projects as assigned.

BEHAVIORAL COMPETENCIES:

1. Values Based
2. Building Partnerships
3. Problem Solving
4. Action Oriented
5. Work Standards
6. Priority Setting