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Compensation Analyst

2 months ago

Boca Raton, United States Envision Staffing Solutions Full time
Job DescriptionJob DescriptionThe Compensation Analyst, as part of the Total Rewards team, will assist in designing and administering the company's compensation programs. This role involves collaborating with the Vice President of Total Rewards to develop compensation structures and salary scales that promote fair and equitable pay practices. Additionally, the analyst will contribute to continuous improvement efforts and be responsible for maintaining job descriptions and evaluating job positions.

Compensation Program Administration:
  • Ensures the fair and equitable administration of the company's compensation programs.
  • Collaborates with business leaders, HR colleagues, and Talent Acquisition to provide guidance on the company's compensation philosophy and established policies and procedures.
  • Prepares new hire compensation recommendations for approval by the Vice President of Total Rewards.
  • Supports the administration of the Annual Merit Increase (AMI) cycle.
  • Contributes to the development of compensation-related policies and procedures.
  • Works with the Vice President of Total Rewards to ensure compliance with FLSA and other relevant compensation-related regulations.
  • Partners with HR colleagues to promote consistency across policies, practices, and methodologies.
  • Ensures the accuracy, completeness, and retention of compensation-related documentation.
  • Builds and maintains strong relationships with key stakeholders.
  • Exercises discretion in managing correspondence, information, and confidential matters related to compensation, escalating issues to the Vice President of Total Rewards when necessary.
Market Analysis:
  • Performs continuous industry and competitive analyses to gather insights and provide recommendations.
  • Participates in market surveys, including the preparation and submission of all required data elements, such as benchmarking, salaries, and compensation policies/practices.
  • Conducts in-depth analysis of market data from various sources.
  • Prepares salary scales for approval and implementation by the Vice President of Total Rewards across different offices.
  • Evaluates the feasibility and potential impact of new initiatives, process improvements, and related solutions.
Job Classification:
  • Prepares and updates job descriptions to ensure they accurately reflect the responsibilities of each position.
  • Researches, evaluates, and recommends appropriate job grades for both current and new positions.
  • Reviews requests for salary adjustments and job changes.
  • Maintains the company's job architecture and educates stakeholders on job classification, market benchmarking, and salary ranges.
  • Reviews proposed compensation adjustments and job changes, providing recommendations to the Vice President of Total Rewards for approval.
Reporting:
  • Tracks and monitors trends and metrics related to compensation.
  • Prepares data inputs for monthly and quarterly reports on various compensation-related activities.
  • Ensures the accuracy and integrity of compensation-related data across multiple systems and sources.
Skills:
  • Ability to work within large data sets in Excel
  • Ability to perform formulas and pivot tables within Excel
  • Ability to analyze complex data