Position Summary
This position is responsible for providing a comprehensive range of analytical support and partnership within the organization. The role involves assisting in the development, implementation, administration, and evaluation of compensation strategies, plans, programs, and procedures designed to ensure fair and competitive employee compensation in alignment with the company’s overall compensation strategies. The Senior Compensation Analyst will be tasked with conducting salary benchmark analyses, evaluating job positions, performing compliance and financial analyses, and contributing to the creation of compensation training materials. Additionally, this role includes participating in salary surveys to maintain alignment with industry standards and support the continuous improvement of the company's compensation programs.
Position Duties/Responsibilities
- Partner with Human Resources Business Leaders (HRBLs) in conducting job evaluations including analyzing job descriptions for the appropriate salary grade, incentive plan, and FLSA exemption status, along with preparing and maintaining job descriptions.
- Provide guidance on the interpretation and application of compensation programs, policies, and applicable laws and regulations.
- Review and approve offer letters, company-wide, while ensuring compliance with company salary grades and company policies. Partners with HRBLs and hiring managers to ensure compensation alignment and internal equity.
- Partner with HRBLs and hiring managers to recommend new hire salary offers and pay rate changes for promotions/transfers/salary adjustments through our position evaluation process, based on internal peer positioning and market analysis, for staff and when needed
- Calculate incentive payments on a variety of frequencies (monthly, quarterly, annual and ad-hoc).
- Supports the administration of the annual merit increase and bonus cycles by analyzing and auditing pay increases.
- Assist with the development and maintenance of salary ranges, job grades, and incentive plans.
- Provides advanced analyses supporting compensation program design and implementation, including market analysis, cost modeling, structure development, and pay mix scenarios.
- Tracks, reports, and analyzes employee compensation data and changes.
- Perform rudimentary data entry into systems, employees’ incentive opportunities, incentive plans, etc.
- Conduct periodic audits to ensure maximum accuracy and integrity of compensation data.
- Monitor and review changes in compensation laws and regulations and recommends changes where needed.
- Support compensation and benefits projects and cross-functional HR initiatives as needed.
Supervisory Responsibilities:
- No formal responsibility for supervising others
Position Requirements
Required:
- Bachelor’s Degree in related field (Business Administration, Human Resource Management, Finance, Accounting, and etc.) or equivalent experience
- 7+ years of experience in HR with 3+ years focused on compensation systems and financial analysis
- 2 years or more of direct experience with compensation development and administration.
Preferred:
- Bachelor’s Degree in Human Resource Management
- 8 years of HR experience with 5 years or more direct compensation experience.
- Advanced proficiency with Microsoft Excel (advanced – marcos, pivot tables, etc.)
- Experience with ADP Workforce Now
- Experience in other HR functions (Benefits, Payroll, Employee Relations, etc.)
- Certified Compensation Professional (CCP).
Knowledge, Skills, And Abilities
The requirements listed below are representative of the knowledge, skills, and/or abilities required to perform each essential duty satisfactorily. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions
- Analytical Thinking: Ability to analyze data, interpret compensation trends, and make informed decisions based on complex information.
- Attention to Detail: Precision in reviewing compensation data, ensuring accuracy in pay structures, and compliance with regulations.
- Communication Skills: Strong written and verbal communication skills for presenting compensation plans, negotiating with stakeholders, and clearly explaining complex concepts.
- Confidentiality and Integrity: Maintaining the highest standards of confidentiality and ethical behavior, especially when handling sensitive compensation information.
- Conflict Resolution: Skill in navigating disagreements and finding a middle ground or solution that satisfies all parties involved.
- Diplomacy: Managing difficult conversations tactfully, ensuring that the message is delivered without damaging relationships.
- Problem-Solving: Skill in identifying compensation-related challenges and developing solutions that are fair and compliant with company policies.
- Interpersonal Skills: Building positive relationships with HR teams, management, and employees, ensuring collaboration and understanding of compensation policies.
- Adaptability: Flexibility in responding to changes in the market, company policies, or regulations affecting compensation strategies.
- Time Management: Efficiently managing multiple projects, deadlines, and priorities, especially during compensation review cycles.
- Empathy: Understanding the needs and concerns of employees when discussing compensation, ensuring a fair and supportive approach.
Other Requirements of Position
- Works under limited supervision. Independently determines the approach to take and the methods to use. Interprets policy in terms of objectives. Informs manager of unusual situations with far reaching implications.
- Major responsibilities typically require creativity and latitude. Employee typically operates with specific objectives but often few written or unwritten procedures as guidelines. Some policies or precedents for action exist.
- If an error is made while in this position, it will require some effort to identify and can impact the company financially
- Frequently communicates with management, coworkers, and vendors.
- Maintains equipment and supplies to avoid waste, damage to areas and equipment, and to prevent accidents
The duties and responsibilities described here are not a comprehensive list, and the scope of the job may change as necessitated by business demands.
All MacAllister Machinery companies are an Equal Employment Opportunity Employer, including Disabled and Veteran applicants.
