Total Rewards Analyst

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Job description

Overview:
The People Total Rewards Analyst will play a pivotal role in analyzing and providing technical support in the design and development of comprehensive total rewards programs, plans, and structures that align with the organization's strategic objectives. This position involves conducting in-depth data analyses, identifying trends, and making strategic recommendations to enhance total rewards offerings. The analyst will collaborate closely with the Total Rewards team, key stakeholders, Enterprise Director, Total Rewards, and the Enterprise CHRO to ensure that all total rewards programs effectively support the needs of associates while aligning with the broader business strategy.

Responsibilities:
Essential Functions

Total Rewards Program Design & Development:

Provide advanced research, technical expertise, and analysis to support the creation and enhancement of total rewards programs, including compensation, benefits, retirement plans, well-being, and recognition.

Collaborate with stakeholders to ensure that total rewards programs are competitive, cost-effective, and aligned with the organization's value proposition for attracting, retaining, and engaging talent

Support the development, implementation, integration, and communication of updates to existing or new programs and policies, ensuring they meet market standards and comply with federal, state, and local regulations

Data-Driven Analysis & Strategic Recommendations:

Conduct comprehensive data-driven analyses to monitor the effectiveness of total rewards programs, identifying trends and anomalies to inform strategic enhancements

Provide recommendations for program improvements based on trend analysis and market benchmarking, ensuring alignment with organizational goals

Utilize advanced statistical techniques and business intelligence tools to analyze complex datasets and generate actionable insights

Collaboration & Stakeholder Engagement:

Partner with the Total Rewards team, Enterprise Director, Total Rewards, and the Enterprise CHRO to design and administer total rewards programs, ensuring alignment with business strategy and team member needs

Collaborate with vendors, brokers, and external partners to benchmark against industry trends and competitive practices, ensuring the organization offers cutting-edge total rewards programs

Provide counsel and guidance on program enhancements and strategic initiatives, ensuring clarity regarding deliverables, deadlines, resources, and communication plans

Process Improvement & Data Integrity:

Collaborate with the People Operations team to ensure accurate data management and integration of key total rewards data, leveraging a holistic approach

Identify and implement process improvements to optimize workflow efficiency and the effective utilization of system capabilities

Ensure data integrity and accuracy across all total rewards programs, supporting data-driven decision-making and strategic planning

Compliance & Best Practices:

Stay informed about best practices in total rewards, as well as federal, state, and local laws and regulations, to ensure compliance and the continuous improvement of total rewards programs

Provide ongoing support and guidance in setting total rewards strategy and direction, ensuring alignment with the organization's mission and objectives

Additional Responsibilities:

Promotes creative and critical thinking in order to develop compelling and innovative strategies while constantly measuring and challenging the status quo

Escalate employee related, legal, and/or compliance risks, analysis, and proposed solutions to the Enterprise

Director, Total Rewards

Collaborate effectively with cross-functional teams to ensure an integrated approach to the service delivery of the department's functions

Functions as a trusted advisor to team members, leaders, and the Enterprise Director, Total Rewards

Participates in and leads assigned projects, initiatives, meetings, and retreats while also engaging in other continuing education opportunities to support their own professional growth and development

Maintains confidentiality of all department and company information and data, as well as ensures adherence and compliance with all laws, rules, regulations, and internal controls specific to the role

Models, promotes, and performs all duties in an ethical manner consistent with the overall mission and values of the system and the organizations served

Demonstrates a willingness to be an active participant in initiatives that have a fundamental impact on the system

Performs any other duties as needed to drive the vision, fulfill the mission, and abide by the values of the system

Qualifications:
MINIMUM EDUCATION: Bachelor's degree in Business Administration, Human Resources, Finance, or a related field

MINIMUM EXPERIENCE:
• 5 years in total rewards, with a strong focus on leveraging data-driven insights to inform strategic decisions and design,
develop, and implement total rewards programs.

PREFERRED EXPERIENCE:
• Experience managing total rewards project implementations, with knowledge of healthcare plans, benefits cost forecasting and budgeting, and compensation administration across various employee levels

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