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0-5 years of experience
Implemented an Exception Review Process that resulted in over $1 million annual savings for the company.
- Oversaw administration of diverse and complex Variable Incentive Compensation Plans for Operation Channels.
- Acted as a liaison with Finance, Human Resources and Channel Management in handling compensation issues.
- Tracked over $10 million dollars in annual incentive expenses, monitored and resolved any variances to budget.
- Developed an annual budget model for VIC expenses that ensured accurate forecasting and planning.
0-5 years of experience
Collaborated with operations to investigate and prevent workplace accidents; targeting high risk job duties, based on injury analysis and statistical reports. Created and implemented procedural changes to ensure the safety of the employees, such as job rotation, equipment requirements, and updated training based on injury analysis, which led to a reduction in workplace injuries by 18%.
- Compiled and ranked large quantities of injury data to prioritize hazard mitigation efforts.
- Developed a data ranking system to interpret hazards and their severity.
- Project lead for initial job hazard analysis program that focuses on identifying and mitigating industrial/job hazards by providing recommendations through the use of improved tools, equipment, or design with the purpose of improving employee behaviors and application of body motion techniques.
- Provided input to business segment and design partners to reduce occupational safety risks based on in depth job analysis.
- Built partnerships within multiple lines of businesses across domestic and international segments.
- Initiated and maintained employee safety programs that engaged employees from all lines of operations.
6-10 years of experience
Developed Broad Banding system for about 20,000 Terex positions with Compensation employees as well as executed training and preparation of communications.
- Performed job analysis, including evaluation, internal comparison and external survey.
- Participated in multiple salary surveys throughout the year ranging from Executive, MM&P and International surveys. Analyzed results to determine the competitiveness of the company's compensation package.
- Performed analysis of outstanding, exercisable Long Term Incentive awards as needed.
- Conducted bi-weekly audits of about 5,000 positions to ensure accurateness of internal bands.
- Prepared, managed and tracked Compensation and Benefits department budget costs. Monitored budget variances monthly and initiated budgetary control actions as appropriate.
- Handled the expatriate program function through preparation of assignment letters, maintenance of partner related programs/web site functionality, and ongoing follow up of expatriate related programs.
0-5 years of experience
Own and create three monthly reports monitoring budget and salary spending, using Microsoft Excel, Access, and PeopleSoft queries to share with Human Capital, senior management and executive leadership
- Coordinate cross-functionally with Human Capital and Payroll Services to evaluate and administer proposed salary increases and promotions, ensuring adherence to a market-competitive philosophy
- Prepare an Optum quarterly scorecard of rolling compensation data for executive leadership's review
- Compile and organize market information received from over 10 survey companies, and subsequently refresh internal data used for review of employee-level compensation decisions
- Created annual reviews of company-wide compensation efforts within eight job families, focusing on variance to external market data; presented to senior management
- Researched external non-monetary incentives to attract high potential technology employees
- Performed cost/benefit analysis of mapping newly acquired companies onto internal organizational structure
0-5 years of experience
Assisted in project-managing the multi-year HR Transformation Project and partnered with external consultants to design a new compensation system and process.
- Supported the transformation implementation, communication, training and change management plan.
- Led the compilation of a global inventory of bonus plans which led to the migration of 22 bonus plans spanning 8,000 employees and $15M in spend to be administered and tracked in new compensation system.
- Conducted various scenarios of compensation analytics and modeling to assist Business Partners in making informed compensation decisions for assigned client groups.
- Created pay offers (base, bonus & equity) for new hires, internal promotions and lateral moves.
- Participated in compensation consulting activities: Job Evaluations, Compensation Studies and Job Classification (exempt/non-exempt) for assigned client groups.
- Administered all aspects of the annual Year End compensation process and administration of merit, bonus & equity payout for employees within assigned client groups.
0-5 years of experience
Responsible for the timely and accurate payment of commissions/bonuses for all lines of business (License, Consulting, Support, Education) in accordance with accepted sales compensation plans, terms and conditions, standard business practices and internal controls.
- Analyzed and reconciled sales credits and commissions for 200+ reps on a monthly basis
- Researched and resolved all commission/bonus payments related inquiries from all levels of the business
- Calculated, verified and submitted payment details to payroll under a strict timeline
- Reviewed, processed, and approved all compensation adjustments.
- Collaborated with key stakeholders to define best practices and work towards the implementation of new policies and practices
0-5 years of experience
[company name]. (NASDAQ: ADPI) owns and manages dental practices and dental laboratories markets throughout the United States. ADPI has an employee base of 4000.)
- Designed and delivered compensation system from scratch for an employee base of 4000. Acted as liaison between senior management, Organizational Development, Benefits and Payroll.
- Built a compensation benchmark, conducted job evaluations, job matching, gathering data. Guided Directors and Managers with compensation issues and decision making.
- Built a reporting system to track increase in Merit pay, Equity adjustments, Promotional increases and Salary decreases.
- Initiated performance review project, to bring 4000 employees from year-round reviews to 3 common dates.
- Tracked best practices. Designed and implemented policy and procedures after getting buy-in from senior management.
0-5 years of experience
Assisted in the development, implementation, and administration of compensation and equitable compensation programs and policies.
- Conducted internal survey and participated in third-party surveys. Reviewed and conducted analyses of survey results to determine the competitiveness of GSUSA's salary programs and structures.
- Developed, revised and maintained job descriptions.
- Participated in the evaluation of new jobs and internal promotions or reclassification of exempt and nonexempt positions. Recommended appropriate salary grades.
- Maintained accurate compensation records to generate monthly ad hoc reports from HRIS system.
- Worked in conjunction with the HRIS staff to ensure the maintenance of the HRIS system used to store and retrieve employee and job data.
- Coordinated day to day benefits administration as needed.
0-5 years of experience
Primary compensation contact for business unit comprised of 15,000 sales and marketing professionals reporting to 4 presidents across the US.
- Project leader for communicating and educating HR and client groups on new salary structure for 7,000 non-sales exempt employees in 1998.
- Participated in development of and administration a $12M bonus plan for exempt, non-incented employees.
- Created and updated generic job descriptions
- Managed an internet-based tool designed for common merit reviews for both salary and stock planning purposes for a client base of 6,000 employees.
0-5 years of experience
Analyzed market salaries and internal equity, resulting in two annual salary increases implemented and delivered
- Reviewed and validated job matching vs. survey benchmarks in partnership with Haygroup and Mercer
- Performed job analysis and developed job descriptions (HAY methodology) Covering 40 job positions. 100% job
- Administered compensation plan development by promotions, adjustments, variable bonus
- Assessment on compensation policies to other departments
0-5 years of experience
Participated in wage surveys utilizing data to aid in establishing new and maintaining market competitive salary ranges.
- Developed a job analysis and quantitative job evaluation process.
- Led the project redesign of the Performance Management process. Designed and implemented Performance Management Planning training program and tools.
- Assisted with the recruitment process of health care professionals.
- Consulted with managers and provided guidance in appropriate Corrective Action Procedures.
- Assisted with the design of and conducted On-Boarding for new employees.
- Served as a member of the SEIU labor negotiation team.
0-5 years of experience
Analyzed market data to create competitive executive and staff compensation structures for 9,000+
employees
- Assisted in determining merit and variable compensation increases during the annual review process
- Administered the Performance Incentive Program for all bonus eligible employees
- Managed staff and executive information data entry into the internal HRIS system
- Facilitated creation of central guidelines for staff information inputs
- Budgeted expense and payroll for the Human Resources department
6-10 years of experience
Processed employee salary actions, position and organizational changes, retention and incentive payments.
- Reviewed and approve personnel requisitions for job description and minimum qualifications prior to posting. Initiate job matching for survey submissions.
- Answered inquiries relating to established compensation procedures and policies.
- Provided training to Management on the use of the software for annual merit increases and variable incentive payouts.
- Responsible for maintaining and updating completed job evaluations in the MarketPay vendor website. Use specialized applications such as LAWSON, AutoComp software to enter and verify compensation information.
- Provided general clerical and administrative support to the compensation department.
0-5 years of experience
Administered compensation and benefits programs for company of over 600 employees, working closely with HR management, payroll, and finance. Provided direction to HR Assistant.
- Collaborated in the development of compensation programs and policies, including annual merit budgets, RIF severance policy, sales compensation, and other incentive plans.
- Completed Radford and government compensation and QSIT surveys, including benchmark and sales compensation.
- Collected and organized HRIS data for monthly HR metrics, weekly headcount, employee database, and ad hoc reporting.
- Oversaw data integration to new HRIS/Benefits administration program.
- Oversaw implementation of SuccessFactors, maintained data, and served as internal consultant.
- Administered benefits for furloughed/COBRA employees.
0-5 years of experience
Oversaw compensation decisions and activity for 7 worldwide strategic business entities, totaling 3500+ employees, within the Analog organization
- Accountable for the Compensation Review Process (CRP) for Analog organizations, an annual process for making, reviewing and analyzing compensation decisions for all employees
- Provided HR Managers and business leaders solutions pertaining to retention efforts, employee relocations, immigration activity, international payroll transfers and off-cycle recognition
- Partnered with HR Managers and the staffing organization on compensation components for internal and external offers
- Served on the University of Texas at Austin Recruiting Team and participated in on campus planning, recruiting and interview activities
0-5 years of experience
Analyst responsible for supporting North America with Compensation and Benefits initiatives.
- Created Job Titling/Salary Grade system using industry knowledge, field intelligence by region, and job survey data.
- Administered Annual Bonus Plan, calculating quarterly payout projections and maintaining Excel workbook.
- Oversaw Field Safety Bonus, determining employee eligibility by region and calculating bi-quarterly payouts.
- Participated in various Compensation & Benefits surveys to gather data for company on positional wages and benefits trends.
- Conducted audits of company's 401K plan, identifying and correcting issues with loans, deductions, and contributions.
- Used Cognos and Ultipro to run HR and Financial reports for operations and administrative personnel across company.
0-5 years of experience
- Trained personnel in seven national offices on proprietary automated commission and payroll systems as well as provided systems support to all 22 national offices.
- Managed annual review and merit increase programs for over 8,000 field employees.
- Developed and maintained relationships with human resource management of 21 host stores to ensure consistent salary practices.
- Provided final salary approval for exempt and non-exempt field positions.
- Maintained Lawson HRIS system integrity.
- Researched turnover statistics, new hire rates analysis and commission buyouts on a quarterly basis for senior management.
Compensation Analyst Duties and Responsibilities
While specific duties for compensation analysts vary depending on their place of employment, there are several core tasks commonly associated with the position, including:
Administer Compensation Programs The chief responsibility of a compensation analyst is to administer pay programs on behalf of their company. These programs are far-reaching and can include wages and compensation, benefits packages, incentives, and bonuses. Administering these programs requires input from multiple sources, including market research, internal and external surveys, and performance evaluations, to name a few.
Evaluate Company Compliance There are multiple state and federal pay regulations a company must follow to avoid penalties or lawsuits. A compensation analyst is responsible for knowing what those regulations are and ensuring their company is and remains compliant.
Conduct Job Performance Reviews To properly administer pay programs, a compensation analyst must have all relevant information related to employee performance. To acquire this information, a compensation analyst will either conduct a performance review personally or consult with someone who has direct information about an employee's performance - e.g., a department manager or HR professional.
Research and Gather Data Compensation analysts rely on various data sets to inform their actions. Compiling this data means they must consult and research multiple sources, including current wage trends, compensation surveys, job market data, and more. All this information must be meticulously organized and collated for reference.
Create Operational Reports A company relies on its compensation analyst to produce detailed reports on everything from job performance to current market pricing. The creation of these reports requires collecting and collating data, analyzing that data for pertinent information, and creating an actionable report based on that information.
Compensation Analyst Skills and Qualifications
A successful compensation analyst is a strategic thinker who can effectively plan and problem-solve and who is comfortable working with others. Compensation analysts commonly hold a bachelor's or master's degree, and many possess additional job-related certifications. Employers also prioritize candidates who display the following abilities:- Research skills - compensation analysts need large quantities of data to effectively perform their duties. To ensure they have the most accurate and up-to-date information, compensation analysts must be capable researchers who know how to get the information they need
- Analytical thinking - collecting data is only part of a compensation analyst's workflow. They also must interpret that information and extract the data they need for tasks and programs
- Microsoft Excel expertise - without workbooks and spreadsheets, the amount of data that compensation analysts must deal with would be wholly unmanageable. Of the various spreadsheet software applications, Microsoft Excel is the most frequently used and should be mastered
- Organization skills - compensation analysts must keep detailed records on personnel and policy. To retrieve these files quickly, they need to be highly organized and detail oriented
- Interpersonal skills - compensation analysts spend large parts of their days talking and working with others, so the ability to communicate effectively with different personality types is essential
Compensation Analyst Education and Training
For compensation analysts, a bachelor's degree from an accredited in university is often required for employment, with additional preference given to those who possess a master's. Although not always a requirement, preference is often given to candidates who have completed courses to attain job-related certifications, such as the Certified Compensation Professional (CCP) or Certified Employee Benefit Specialist (CEBS) designations.
Compensation Analyst Salary and Outlook
The Bureau of Labor Statistics (BLS) lists compensation analysts under the broader category of compensation, benefits, and job analysis specialists, and reports a median annual salary of $62,680, which is equal to an hourly rate of $30.14. These numbers are consistent with salaries offered for compensation analysts on multiple online job sites. Compensation analysts in the 10th percentile earn $38,860 per year, while the highest paid make around $101,800 annually. According to the BLS, employment in this sector is expected to grow by 9 percent through 2026, which is on par for the projected national average for all occupations. This level of growth will translate to more than 7,000 new employment opportunities for compensation analysts through 2026.
Helpful Resources
Ready to become a compensation analyst? Check out the resources below to get started:
Essential HR Handbook: A Quick and Handy Resource for Any Manager or HR Professional - billed as "the one HR guide every manager needs," this handbook is an excellent resource for compensation analysts. Authors Sharon Armstrong and Barbara Mitchell deliver over 250 pages of useful information, including guides for appraising job performance, rubrics for providing equitable pay, rewards strategies, and much more
Excel 2016 Bible - from spreadsheet guru John Walkenbach, this comprehensive guide teaches you everything you need to know about Microsoft Excel. Inside, you'll find over 1,100 pages of useful instructions on everything from creating your first workbook to leveraging advanced formulas to create detailed, actionable reports
Perfect Phrases for Performance Reviews - a handy resource for anyone who conducts job performance reviews, this book provides hundreds of carefully constructed phrases to effectively communicate your assessment of an employee's performance
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