Compensation Analyst

3 weeks ago

Independence, United States Redwood Living Inc Full time
Job DescriptionJob Description

Job Title: Compensation Analyst

Department: Human Resources

Reports to: Director of Compensation, Benefits, and HRIS

Location: Independence, Ohio

At Redwood Living Inc. (“Redwood”), we know we are only as successful as the people who power us. Our employees are passionate, they are talented, they are empowered to make decisions that positively affect the lives of our residents. From site personnel to corporate leadership, our employees demonstrate Redwood's commitment to deliver more than expected, communicate openly and honestly, and demonstrate integrity in all aspects of our business. As we continue to grow, we seek these same qualities in every team member we bring on board.

Position Overview

Under the general direction of the Director of Compensation, Benefits, and HRIS, the Compensation Analyst will be responsible for administering the foundational components of compensation and assist in the strategic design and analysis to support a proactive compensation philosophy at Redwood. Furthermore, this role will be responsible for researching job requirements and evaluating job positions to ensure the company is competitive in the areas of salaries and employee benefits. As such, this role will be expected to act as a Redwood brand ambassador, promote the Redwood brand and provide the best employee and resident experience possible.

All Redwood employees are expected to conduct all organizational business and practices in accordance to Redwood company policies.

Essential Duties & Responsibilities

  • Serve as compensation subject matter expert and liaison to all levels of leadership within the organization.
  • Set internal compensation practices and company pay guidelines, specifically, the evaluation of internal company pay bands, grades, and levels. Ensure cost of living adjustments and inflation are represented and evaluated as external factors influence.
  • Utilize benchmarking and prevalence reports to evaluate external competitiveness and fair pay practices.
  • General compensation practices that fall under the scope of duties include long term incentives (LTI) compensation planning, short term incentives (STI) compensation planning, ownership equity, compensation plan design, compensation theory, and pay benchmarking.
  • Gathers data from market-based compensation surveys; uses spreadsheet and data analysis techniques to assess results and market trends.
  • Apply market-based data to annual internal review of Redwood existing jobs to assess outliers, wage compression, rightsizing, pay adjustments, or the alike.
  • Evaluates and implements job analysis tools, instruments, and materials.
  • Research employee benefits in similar industries; based on findings, recommends changes or updates to the company’s existing benefits or compensation policies.
  • Plans and communicates preferred methods and best practices for hiring, training, compensating, and evaluating employees.
  • Works with Director on annual total rewards pay statement in HRIS system.
  • Active member of the compensation committee. This includes working directly with Redwood’s external compensation consultant to consult and align on all responsibilities rolling up through the compensation HR function.
  • Align with Business Intelligence team on internal HR dashboards specifically related to compensation and benefits KPIs.
  • Evaluates job descriptions for each position in the organization; ensures descriptions accurately reflect the work being performed by employees.
  • Interviews and surveys employees and managers to gather and document job, organizational, and occupational information including duties, responsibilities, and skills required by each job.
  • Assesses jobs and their respective duties to determine classification as exempt or nonexempt and appropriate salary range.
  • Benchmarks jobs against survey data and other market intelligence to determine competitive compensation ranges for each position.
  • Prepares and maintains job classifications and salary scales; review updates in HRIS.
  • Prepares and presents summary reports of job analysis and compensation analysis information.
  • Advises management on applicable state and federal employment regulations, benefits and compensation policies, and human resource procedures.
  • Support director in activities related to administration of annual merit increase and annual bonus processes. This includes direct partnership with department heads and leadership team to set, recommend, calibrate, and approve annual merit increases/bonuses per year end timeline.
  • Work with Director to establish and incorporate the existing internal company annual performance review (APR) process and programming into a Pay for Performance (PFP) compensation design model.
  • Create Redwood Compensation Guidelines policy manual and supervisor guide under guidance of the Director.
  • Performs other related duties as assigned.

Required Skills

As a Compensation Analyst, you will be required to exhibit the following skills:

  • Extensive knowledge of quantitative and qualitative research methods.
  • Extensive knowledge of human resource laws, regulations, and best practices.
  • Strong time management skills and general business acumen.
  • The ability to communicate and interact with employees at all organizational levels.
  • Proven ability to plan, organize and implement multiple tasks/projects on a concurrent, real-time basis.
  • High attention to detail and organization skills required.
  • Ability to maintain confidentiality to ensure integrity in pay practices.
  • Maintain a teamwork mentality in order to achieve departmental goals.

Required Qualifications, Education & Certifications

  • Bachelor’s degree in Human Resources or related field required.
  • SHRM-CP or SHRM-SCP preferred.
  • Three to five years of experience as a compensation analyst required.
  • General computer proficiency and experience in Microsoft Office Suite, especially Excel, or similar software.

Working Conditions

This job operates in a professional office environment. In this role, the employee will routinely use standard office equipment such as computers, desk phones, iPhone, photocopiers, etc. The employee is frequently required to sit, stand, bend and walk with the ability to lift 20 pounds where applicable.



The above statements are intended to describe the general nature and level of work being performed by individuals assigned this job title. They are not intended to be construed as an exhaustive list of all required responsibilities, duties and skills, and such responsibilities, duties and skills may be changed by Redwood at any time.



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