Compensation Analyst

Summary

As a Compensation Analyst, you will play a crucial role in ensuring that our organization's compensation practices are competitive, fair, and aligned with business objectives. You will be responsible for conducting data analysis, market research, and internal evaluations to design, implement, and manage effective compensation and total rewards programs. The role involves collaborating with HR, finance, and senior leadership to provide insights and recommendations that support the attraction, retention, and motivation of top talent.

Essential Functions

Compensation Analysis:

• Conduct comprehensive analysis of compensation data, including salary surveys, market trends, and internal pay structures for salaried and hourly population.
• Evaluate the competitiveness of the organization's compensation packages and make recommendations for adjustments.

Job Evaluation and Benchmarking:

• Participate in job evaluation/market processes to determine the relative value of different positions within the organization.
• Benchmark jobs against industry standards to ensure competitive compensation.
• Uses job descriptions to assess role scope and requirements, ensuring accurate job evaluation, internal equity, market positioning, and alignment within the job hierarchy.

Market Research:

• Stay informed of industry trends, labor market conditions, and legislative changes affecting compensation.
• Stay informed of regional and national data and trends, including merit budget considerations.
• Analyze survey data to make informed decisions regarding salary ranges, bonus structures, and other compensation components.

Compensation Program Design and Implementation:

• Collaborate with HR and senior leadership to design and implement effective compensation programs, ensuring alignment with organizational goals and values.
• Develop and communicate compensation policies and guidelines.

Compensation Administration & Reporting:

• Complete operational compensation transactions in the HRIS, including data entry of retention bonuses and one‑time cash awards.
• Maintain accurate and up-to-date compensation data in HR systems.
• Generate regular reports and analyses for senior management, HR, and finance as needed.
• Present compensation data in a visually compelling and understandable way, using charts, graphs, and dashboards to facilitate decision-making by senior leadership.

Compliance:

• Ensure compliance with local, state, and federal regulations regarding compensation practices.
• Stay informed about changes in legislation affecting compensation and provide guidance to ensure compliance.
• Maintain documentation and audit trails related to compensation decisions, approvals, and system transactions.

Severance Administration:

• Administer the organization’s severance program, ensuring alignment with company policy, legal requirements, and internal governance standards.
• Partner with HR Business Partners, Legal, and leadership to support severance decisions and provide guidance on program application.
• Ensure accurate calculation, documentation, and processing of severance packages, including coordination within HRIS and payroll processes.
• Maintain program documentation, controls, and audit readiness to support compliance and consistency.

Recognition and Rewards:

• Serve as the operational owner for HSC’s employee recognition and career celebration program, ensuring alignment with company values, culture, and performance objectives.
• Analyze all recognition and rewards for benchmark best practices, make recommendations and lead any changes or updates needed.
• Manage vendor relationships for the employee recognition platform, service delivery, enhancements, issue resolution, and cost control.
• Administer and continuously improve the peer‑to‑peer recognition program, including program guidelines, system configuration, reporting, and employee education.
• Coordinate and manage the Impact and Continuous Improvement Award programs, ensuring consistent criteria, nomination processes, winner selection, communications and associated administrative activity (i.e awarding points, cash awards, plaques, etc.).

Collaboration:

• Work closely with HR partners, recruiters, and hiring managers to provide guidance on compensation offers for new hires and promotions.
• Provide guidance on salary offers and pay changes to ensure alignment with internal equity, market competitiveness, and compensation guidelines.

Additional Duties/Responsibilities:

Incentive Plan Design:

• Design, implement, and administer incentive and bonus programs to drive performance and align with organizational objectives.

Merit Increase Planning:

• Develop and manage processes for all components related to annual merit increase planning, considering performance ratings, budget constraints, and market trends.  This includes project management of all associated timelines, communications and vendor management.

Customized Analytics:

• Provide ad-hoc analytical support for various HR and business initiatives, such as workforce planning, organizational restructuring, or talent management.

Training and Education:

• Conduct training sessions for HR professionals, hiring managers, and employees on compensation-related topics, ensuring a clear understanding of the organization's compensation philosophy and practices and total rewards.

Skills that will set you up for success:

Interpersonal Skills:

• Ability to collaborate and build effective working relationships with HR professionals, finance, senior management, and other stakeholders.

Attention to Detail:

• Thorough attention to detail when working with data, job descriptions, and compensation policies to ensure accuracy and compliance.

Problem-Solving:

• Strong problem-solving skills to address complex compensation issues and provide creative solutions.

Ethical Judgment:

• Ability to handle sensitive compensation information with discretion and adhere to ethical standards.

Analytical Skills:

• Ability to analyze and interpret complex compensation data, including salary surveys, market trends, and internal pay structures.

Technical Proficiency:

Familiarity with Human Resource Information Systems (HRIS) and compensation management software for data management and analysis.

Minimum Required Work Experience:

• 5 - 7 years proven experience as a Compensation Analyst or in a similar role.
• Strong analytical skills with the ability to interpret and analyze complex data sets.
• Familiarity with compensation survey data and market pricing techniques.
• Knowledge of relevant labor laws and regulations
• Proficient in using HRIS and compensation management software.

Minimum Required Education/Certification:

Required Qualifications:

• Bachelor's degree in Human Resources, Business Administration, Finance, or a related field.

Preferred Qualifications:

• Certified Compensation Professional (CCP) designation.