Love crunching numbers, interfacing with various departments, and being a part of the growth of a company? Look no further! As a Sr. Compensation Analyst here at ICW Group, you will play a very integral part for potential and current employees. By conducting surveys and analyses, you will partner closely with HR and the business to come up with comprehensive job descriptions, benchmarking, and provide recommendations on compensation structures.
PURPOSE OF THE JOB
Provides technical expertise, administration and analysis for compensation, benefits, and other related HR functions to ensure our programs are market relevant, compliant with all legal requirements and attract and retain talent to drive business results.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Oversees the Base Compensation Program for the Company
- Participates in surveys, conducts benchmarking, analyzes and makes recommendations on the compensation structures
- Reviews new hire, promotion and off-cycle cash compensation packages for equity and compliance
- Conducts forecasting and analysis of base compensation budgets, proposes salary and increase budgets and ensures Compensation Committee approval.
- Manages the annual Salary Increase and Bonus Allocation process from establishing budgets through communication to Team Members.
- Ensures the company’s compensation practices comply with federal, state and local laws and regulations
- Ensures compensation data in all HR systems is accurate and complete.
- Provides on-going training and information to Team Members and Managers that increases the perception of a fair and valuable Total Rewards package.
Administers the Executive Compensation Program for the Company
- Participates in surveys and conducts competitive/peer analysis
- Designs and maintains short-term and long-term incentive programs
- Working with the Vice President of Human Resources, prepares and reviews materials for the Compensation Committee meetings
- Manages all executive compensation payments and coordinates with payroll on the timing and distribution of pay outs
- Administers Executive Compensation Benefits including the Executive Deferral Program, Management Security Plan, Stock Redemption, etc.
Supports Variable Pay Programs
- Designs, analyzes and revises various incentive plans.
- Partners with Business Leaders to design sales compensation incentive programs, contests, etc.
- Ensures current and compliant program documentation is maintained for all programs
- Conducts analysis and forecasting for budget approvals and reports on results
- Audits calculations prior to payment for non-discretionary programs
- Maintains document library for all long and short term plans
Drives organization recognition programs
- Designs and administers organization-wide reward and recognition programs ensuring that they meet stated goals and objectives
- Serves as a consultant to departments in creating contests and recognition programs ensuring that they meet organization and compliance requirements.
Organizes and maintains current job description library
- Organizes and maintains current jobs description libraries (on-line and in electronic files)
- Consults with managers requesting new positions, providing guidance on completing the job questionnaire and creates final job description
- Conducts benchmarking on new jobs and gains approvals
- Establishes job description standards and ensures job descriptions are compliant with all regulatory rules.
Identifies and executes on compensation projects
- At least bi-annually, benchmarks the full pay structures and identifies changes to ensure market relevance.
- Supports department restructures through job design and pay recommendations
- Prepares documentation such as policies, instructions, guidelines, etc.
- Prepares materials for training, education, meetings or communication.
- Processes P.O.s, invoices or other requirements to accomplish Compensation tasks.
- Ensures compliance for Compensation areas assigned such as keeping master files, documenting processes and analyzing data and making recommendations.
This position has no supervisory responsibility.
EDUCATION AND EXPERIENCE
Bachelor's degree in business or other related discipline; 5 years’ experience working in Compensation function performing similar duties; additional experience and certification will be considered in lieu of Bachelor's degree.
CERTIFICATES, LICENSES, REGISTRATIONS
CCP or similar certification in Compensation is desirable
KNOWLEDGE AND SKILLS
Technical knowledge of compensation principles, tools and techniques; understanding of people management and human resource functions and systems.
In depth understanding and application of compensation laws including FLSA, California and other state wage and hour requirements.
Demonstrated competence in one or more HR information systems, preferably UltiPro. Mastery of Excel and intermediate to advanced skills in other Microsoft Suite applications including Access and Visio preferred
Ability to effectively compose business correspondence, policies and procedures, detailed and executive reports, presentations, and analyses; demonstrated experience in designing and presenting information to audiences of all levels in an engaging manner
Ability to define problems, research and collect data, establish and evaluate facts, and draw valid conclusions. Ability to make administrative and procedural judgments on sensitive, confidential issues.
Ability to plan, coordinate, and administer complex administrative systems and processes. Ability to communicate effectively, both orally and in writing.
Primarily sitting in front of a computer, occasional standing and walking; must be able to reach with hands and arms; stoop, kneel, crouch, or crawl; talk and hear. The employee must occasionally lift and/or move up to 30 pounds. Specific vision abilities required by this job include close vision.
This position maps to the individual contributor level. Additional competencies required: None.
The noise level in the office is usually moderate.