Sr. Compensation Analyst

Job Title: Sr. Compensation Analyst
Location: Plainsboro, NJ 08536
Duration: 6 months (Possibility to convert)
 
Job Description: The Senior Analyst, Compensation is responsible for supporting the establishment and maintenance of the compensation function for employees in North America. This individual will help support the organization’s compensation infrastructure by providing the necessary analytics and compensation metrics needed to support organizational objectives. As a senior level professional this role will assist in driving the compensation strategy of the organization, under the guidance of the Director of Total Rewards, North America. Including, but not limited to working on strategy projects like job architecture, documenting procedures, creating guidelines, market analysis, compensation metrics, annual merit process, creation and maintenance of salary structure and incentive programs.
 
Essential duties and responsibilities:

• Support the enhancement of pay programs based on competitive benchmarking and industry standards, ensuring pay programs are market competitive.
• Administer the annual compensation and incentive processes to include planning, updating guidelines and tools, system testing, preparing communication materials and consulting with HR business partners and management on the process and recommendations.
• Assures through audits, reports and personal contact that company compensation programs are consistently administered in compliance with company policies and government regulations.
• Research projected salary increases each year and provide insight into the salary budget proposal.
• Participate in salary surveys as well as collect and analyze salary information to help determine our competitive positioning in the market.
• Benchmark jobs aProductst survey data and other market intelligence to determine competitive compensation ranges.
• Partner with HR Business Partners, Talent Acquisition and Hiring Managers to evaluate job duties and responsibilities for new positions and provide benchmarking information and recommendations.
• Conduct equity reviews and drive the overall compensation strategy of competitive pay, equity, and pay for performance.
• Ensure compliance with compensation laws and regulations while staying up to date with current and upcoming competitive market trends in our industry.
• Assist with ad-hoc and annual analytical projects involving large amounts of data, identifying key themes, and highlighting areas of opportunity. Including assess Compensation Metrics to assess larger strategy objectives.
• Leverage system functionality and optimize capabilities within the compensation modules of the company’s human capital management system (PeopleNow)
• Analyze data and processes to provides suggestions for enhancement to current plans and programs.
• Conduct FLSA (Fair Labor Standards Act) analyses and makes recommendations for the FLSA status for new and existing position.
• Liaise with Finance and Payroll on compensation administration when appropriate.
• Stay knowledgeable about compensation trends, strategies, and work to innovate and improve the compensation programs at including finding ways to automate and be more efficient.
• All other duties as assigned.
• Protects the company’s assets and financial information by ensuring the accuracy and effectiveness of internal control procedures and informing management and/or appropriate officials of potential fraud risk.

 
Qualifications:

• Bachelor’s degree or equivalent experience.
• Minimum 3 years compensation experience required. Ideally 5-7 years.
• Compensation experience working for a foreign multi-national a plus
• Experience with PeopleNow, or comparable Enterprise Resource Planning (ERP) system, preferred.
• Thorough knowledge of human resource laws, regulations, and best practices pertaining to compensation and total rewards.
• Excellent analytical, organizational and time management skills. Attention to detail and dedication to accuracy.
• MS Office Suite, with Intermediate - Advanced knowledge of Excel.
• Experience working with broad-based compensation programs (base/bonus/equity), pay for performance, benchmarking/market data, job evaluation, etc. required.
• Professional Human Resources or Compensation certification a plus (SHRM-SCP, SHRM-CP, SPHR, PHR, CCP, CBP, etc.)
• Strong analytical skills and ability to interpret and communicate data; demonstrated experience performing complex reporting and analysis