Compensation Analyst

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

REQUIRED QUALIFICATIONS:

Education: BA/BS degree or equivalent experience; Human Resources, Business Administration, or Information Systems degree preferred.

Experience:

• 3+ years of HR experience, including previous compensation experience.
• 1+ years HR system experience; Ceridian Dayforce and Cornerstone experience preferred.

Knowledge, Skills, and Abilities:

• Strong analytical and cost modeling skills.
• Advanced Excel skills and proficient in Microsoft Office Suite
• Proven ability to influence stakeholders and build relationships at all levels of the organization.
• Must possess high level of discretion, tact, diplomacy, and professionalism.
• Must possess ability to work independently with minimal supervision.
• Excellent organizational skills, detail-oriented, a self-starter, possess critical thinking skills and be able to set priorities and function as part of a team as well as independently.
• Excellent verbal and written communication skills including the ability to communicate effectively with various audiences.
• Strong problem-solving and critical thinking skills while exercising sound judgment.
• Ability to learn new technologies quickly.

Preferred Qualifications, Licenses/Certifications:

• CCP or Senior Professional Human Resources (SPHR) or SHRM Senior Certified Professional (SHRM-SCP) certification
• A working knowledge of railroads, transportation, heavy construction, or combination. Knowledge of or ability to quickly become familiar with Railroad products and services, particularly about the maintenance of tracks and structures.

WORKING CONDITIONS:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of the role. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

• Office deskwork, requiring sitting, walking, using phone & computer.
• May lift up to 25 lbs. occasionally.
• 5% or less travel

Loram is an Equal Opportunity Employer and will make all employment-related decisions without regard to race, color, religion, creed, sex, sexual orientation, gender identity, national origin, age, disability, marital status, familial status, status with regard to public assistance, membership or activity in a local commission, protected veteran status, or any other status protected by applicable law

Revised: May 2024

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