Requisition ID 14455BR
Title Compensation Analyst
Job Category Human Resources
Job Description PURPOSE:
Provides general support and guidance regarding compensation related processes and initiatives, requiring some knowledge and experience in discipline. Participates in administering compensation programs, policies, and procedures which are consistent with the Company’s goals and competitive practices. Provides analytical guidance and interpretation of compensation policies and practices.
RELATIONSHIPS:
Reports to the Manager, Compensation. Interface with HR business partners and management for all departments. Some contact with compensation consultants and external vendors
ESSENTIAL FUNCTIONS:
• Analyze/measure key compensation metrics on a quarterly basis.
• Assist with the annual salary budget process.
• Assist with the mid-year review process by tracking eligible employees and partnering with HRBPs to process base pay and bonus payouts.
• Assists in conducting the annual comp plan review; including the annual merit budget and structure update, calibration and comp planning process, developing and disseminating Plan documents and communications, and other actions.
• Collaborates with HR business partners and management on compensation related issues, including pay decisions and policy and guideline interpretation, often requiring creative solutions to specific compensation-related programs.
• Conducts job evaluations; conducting in-depth market analyses and making recommendations to management regarding titles, grade level, and incentive target, in order to maintain equitable levels and pay rates within the organization. Evaluations include both market pricing and (when necessary) IPE.
• Contributes to the completion of special compensation studies for specific functional areas; analyzing market trends, completing statistical studies, and developing recommendations and action plans designed to attract, retain, and reward employees. May partner with outside consultants in developing custom surveys, when necessary.
• Ensure that the administration of Company compensation programs are in compliance with established guidelines, processes, and procedures. Audit, update, and communicate compensation processes as needed.
• Maintain credentials and membership with professional associations to keep abreast of trends within the market regarding compensation issues and government regulations.
• May provide training on compensation policies and guidelines when required.
• Participates in compensation surveys for the purpose of maintaining the Company’s competitive position within the marketplace and ensuring that we have access to relevant market data to benchmark and market price our jobs.
• Provides analytical support to ongoing compensation programs and processes.
• Work closely with recruiters to coordinate and approve new hire salary offers and sign-on bonuses. During periods of expansion, provide additional support, guidance, and training materials to facilitate successful hiring.
• Work on a variety of compensation-related projects and initiatives requiring initiative, project management, partnering with appropriate internal and external resources, and ensuring that projects are on-time and achieve the desired goals and objectives.
PHYSICAL REQUIREMENTS:
Not Applicable
DEVELOPMENT OF PEOPLE:
Not Applicable
KEY SUCCESS FACTORS: EDUCATION, EXPERIENCE, KNOWLEDGE AND SKILLS
• A Bachelor’s degree or equivalent experience required. CCP a plus.
• Advanced proficiency in Microsoft Word, Excel, Access, PowerPoint, and Outlook.
• Demonstrated ability to interact with all levels of employees and management
• Excellent written and verbal communication skills
• General understanding of compensation theory, techniques, and practices
• Requires a minimum of 3-5 years of cumulative experience in Human Resources; 1-2 years compensation experience preferred
• Strong analytical skills
Department HR - COMPENSATION
Position Location US - Princeton, NJ
City Princeton
State/Provinces US - NJ
Degree Required Bachelor's Degree or equivalent experience
Percent Travel None
Title Compensation Analyst
Job Category Human Resources
Job Description PURPOSE:
Provides general support and guidance regarding compensation related processes and initiatives, requiring some knowledge and experience in discipline. Participates in administering compensation programs, policies, and procedures which are consistent with the Company’s goals and competitive practices. Provides analytical guidance and interpretation of compensation policies and practices.
RELATIONSHIPS:
Reports to the Manager, Compensation. Interface with HR business partners and management for all departments. Some contact with compensation consultants and external vendors
ESSENTIAL FUNCTIONS:
• Analyze/measure key compensation metrics on a quarterly basis.
• Assist with the annual salary budget process.
• Assist with the mid-year review process by tracking eligible employees and partnering with HRBPs to process base pay and bonus payouts.
• Assists in conducting the annual comp plan review; including the annual merit budget and structure update, calibration and comp planning process, developing and disseminating Plan documents and communications, and other actions.
• Collaborates with HR business partners and management on compensation related issues, including pay decisions and policy and guideline interpretation, often requiring creative solutions to specific compensation-related programs.
• Conducts job evaluations; conducting in-depth market analyses and making recommendations to management regarding titles, grade level, and incentive target, in order to maintain equitable levels and pay rates within the organization. Evaluations include both market pricing and (when necessary) IPE.
• Contributes to the completion of special compensation studies for specific functional areas; analyzing market trends, completing statistical studies, and developing recommendations and action plans designed to attract, retain, and reward employees. May partner with outside consultants in developing custom surveys, when necessary.
• Ensure that the administration of Company compensation programs are in compliance with established guidelines, processes, and procedures. Audit, update, and communicate compensation processes as needed.
• Maintain credentials and membership with professional associations to keep abreast of trends within the market regarding compensation issues and government regulations.
• May provide training on compensation policies and guidelines when required.
• Participates in compensation surveys for the purpose of maintaining the Company’s competitive position within the marketplace and ensuring that we have access to relevant market data to benchmark and market price our jobs.
• Provides analytical support to ongoing compensation programs and processes.
• Work closely with recruiters to coordinate and approve new hire salary offers and sign-on bonuses. During periods of expansion, provide additional support, guidance, and training materials to facilitate successful hiring.
• Work on a variety of compensation-related projects and initiatives requiring initiative, project management, partnering with appropriate internal and external resources, and ensuring that projects are on-time and achieve the desired goals and objectives.
PHYSICAL REQUIREMENTS:
Not Applicable
DEVELOPMENT OF PEOPLE:
Not Applicable
KEY SUCCESS FACTORS: EDUCATION, EXPERIENCE, KNOWLEDGE AND SKILLS
• A Bachelor’s degree or equivalent experience required. CCP a plus.
• Advanced proficiency in Microsoft Word, Excel, Access, PowerPoint, and Outlook.
• Demonstrated ability to interact with all levels of employees and management
• Excellent written and verbal communication skills
• General understanding of compensation theory, techniques, and practices
• Requires a minimum of 3-5 years of cumulative experience in Human Resources; 1-2 years compensation experience preferred
• Strong analytical skills
Department HR - COMPENSATION
Position Location US - Princeton, NJ
City Princeton
State/Provinces US - NJ
Degree Required Bachelor's Degree or equivalent experience
Percent Travel None