Compensation Analyst

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Job description

Overview:
The Compensation Analyst provides research and analytical support to key stakeholders, including Human Resources, Finance, and Legal. The Analyst partners with internal and external stakeholders to prepare accurate, detailed analysis, calculations, and reporting, including analyzing for effectiveness of assigned programs and services. In this role, the Analyst manages the annual merit review cycle, including merit, bonus, and long-term incentives. Finally, the Analyst ensures the Company is compliant with applicable federal, state, and local wage laws, keeps abreast of current and anticipated policy changes, and updates key stakeholders.
ROLES AND RESPONSIBILITIES

Ensures personnel records are accurately reflected in the HR System, including assisting in testing of Peoplesoft Upgrades and other system updates in PeopleSoft

Manage the annual merit and bonus processes

Manage long-term incentive (Red Lobster Performance Units) program to include the annual award, yearly vesting and biweekly updates

Manage and execute reporting for statistical and comparative analysis for various Compensation programs

Serve as the resource for the interpretation of federal, state and local laws related to compensation programs to ensure compliance including minimum wage updates

Remain abreast of current and anticipated policy changes, provide updates to key stakeholders including Finance and Legal

Provide salary recommendations through research and analysis. Interpret competitive market data to benchmark executive, salaried, and hourly positions

Own the administration, coordination, and organization of various compensation programs, including offers of employment, promotions/demotions, and termination packages

Develop, modify, and run queries and reports to generate data for Compensation planning

Preparing statistical analysis, data modeling, cost analysis in support of Company financial objectives

Conduct and participate in market surveys, e.g. CRTRA, BlackBox, BLS

Maintain compensation related tables and data in HR Systems

Provides interpretation and guidance to inquiries regarding Compensation plans and programs for all employees

Influence and assist with implementation of new Compensation programs, new systems, and special projects as requested

Fulfill ad hoc query, data modeling and reporting requests from Operations and HR Leadership

Work with external partners to evaluate Compensation programs, processes, and systems to remain competitive and leverage best practices

REQUIRED SKILLS

Very strong knowledge of Excel, Word, and Outlook

Strong knowledge of HR Systems (PeopleSoft, Cornerstone, Kenexa)

Very strong analytical and problem-solving skills

Solid project management skills, ability to lead projects with assistance and produce accurate and timely work

Excellent communication skills, both written and oral

Strong analytical curiosity, organizational skills, and excellent follow through

Proven facilitation skills

REQUIRED EDUCATION AND EXPERIENCE

Bachelor's degree in Business, Human Resources, Finance, or related field

Minimum two (2) years experience in Finance and/or Human Resources

OTHER QUALIFICATIONS

Ability to handle sensitive information with confidentially

Ability to work accurately with detailed information

Ability to analyze and interpret statistical data

Self-starter with demonstrated ability to manage multiple initiatives simultaneously

Solid teamwork and interpersonal skills

Demonstrated ability to act professionally with internal and external business contacts

Demonstrated ability to communicate and function effectively within a complex corporate environment

Ability to adapt to changing business environments, solve problems, and take advantage of improvement opportunities

Sound judgment and decision-making abilities

Professional curiosity and initiative to identify and present process improvement and growth opportunities

Proven experience with analyzing, prioritizing, and solving problems effectively

Ability to multi-task and prioritize tasks

Ability to complete work under deadlines and in a fast-paced environment

PREFERRED SKILLS

Solid understanding of compensation structures and methodology

Familiarity with compensation surveys and pricing tools

Familiarity with applicable federal, state, and local laws, e.g. FLSA

Familiarity with EEOC classifications and standards

PREFERRED EDUCATION AND EXPERIENCE

Advanced degree

SHRM Certification

Certified Compensation Professional (CCP) designation or working toward CCP designation

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