Compensation Analyst

Compensation Analyst

  • Location HOBOKEN, NJ
  • Career Area -
  • Job Function -
  • Employment Type -
  • Position Type -
  • Requisition GH1442324

What you'll do at

 

 

Essential Functions

An individual must be able to successfully perform the essential functions of this position with or without a reasonable accommodation.

Assists in the development of associate compensation packages by developing initial recommendations including base salary and short- and long- term incentive levels; ensuring market competitiveness and overall internal equity of offerings; and partnering with senior management to refine recommendations for presentation to divisional leadership.

Supports the design, automation, and implementation of total remuneration systems and processes (for example, incentive tracking, annual performance increases) by partnering with stakeholders to identify gaps and streamline current systems and processes; identifying process mapping; and enhancing current compensation systems and processes.

Manages the day-to-day execution of compensation market analysis to assess current total remuneration levels by serving as primary contact for market analysis vendors and Compensation Managers; conducting analyses to support the selection of benchmark companies; ensuring accuracy of data submission kits; conducting preliminary reviews of market data information to ensure accuracy and representation of market industry mix; and presenting findings to senior management for final review and approval.

Provides compensation information and assistance to customers, suppliers, and stakeholders by assisting in the development of compensation plan correspondence; reviewing, validating, and presenting correspondence to Human Resources (HR) leadership; resolving and following up on customer concerns and challenges; providing technical support on compensation systems and websites; developing and presenting division-wide training delivery plans; educating customers (for example, HR Generalists, division managers) on compensation processes, programs, and policies; researching and addressing complex compensation questions and issues; and escalating system problems and resolution proposals to senior leadership.

Demonstrates up-to-date expertise and applies this to the development, execution, and improvement of action plans by providing expert advice and guidance to others in the application of information and best practices; supporting and aligning efforts to meet customer and business needs; and building commitment for perspectives and rationales.

Provides and supports the implementation of business solutions by building relationships and partnerships with key stakeholders; identifying business needs; determining and carrying out necessary processes and practices; monitoring progress and results; recognizing and capitalizing on improvement opportunities; and adapting to competing demands, organizational changes, and new responsibilities.

Models compliance with company policies and procedures and supports company mission, values, and standards of ethics and integrity by incorporating these into the development and implementation of business plans; using the Open Door Policy; and demonstrating and assisting others with how to apply these in executing business processes and practices.

Competencies

An individual must be proficient in each of the competencies listed below to successfully perform the responsibilities of this position.

Customer/Member Centered: Meet Internal and External Customer/Member Needs - Identifies the requirements, expectations, and needs of customers/members. Supports and aligns with initiatives, goals, and actions focused on improving customer/member service. Addresses the concerns and issues of internal and external customers/members. Uses customer/member data, analyses, and insights to improve customer/member-related decisions.

Judgment: Demonstrate Professional Judgment - Researches and integrates relevant information and data, and uses expertise to make recommendations or decisions. Identifies and applies sound, fact-based criteria in setting priorities and making decisions. Uses business measures and analyses to identify improvement opportunities. Probes and looks beyond symptoms to determine the root causes of problems and identify possible solutions.

Execution and Results: Focus on Execution and Results - Aligns and pursues work activities to achieve the mission and business priorities of the organization. Shares information, practices, and resources across functions, organizations, and locations to improve performance. Effectively uses existing processes and tools to achieve performance objectives. Uses and explains major process steps to manage time, resources, and challenges to meet goals.

Planning and Improvement: Plan for and Improve Performance - Develops and implements plans, practices, and processes to better achieve organizational goals. Develops contingency plans to manage or eliminate potential problems. Identifies and recommends ways to continually improve and streamline processes and practices.

Influence and Communicate: Build Influence - Develops and presents logical, convincing reasons in support of one's perspectives and initiatives. Proactively shares relevant information and timely updates with appropriate people. Listens attentively and asks questions to ensure understanding. Researches information for and prepares documents and presentations that effectively convey relevant information in a timely manner.

Ethics and Compliance: Model Ethics and Compliance - Complies with policies and procedures. Demonstrates ethical performance. Supports efforts to enforce compliance with policies and procedures.

Adaptability: Adapt Professionally - Demonstrates creativity and strength in the face of change, obstacles, and adversity. Adapts to competing demands and shifting priorities. Updates and shares knowledge and skills to keep current in one's area of expertise. Embraces change and supports its implementation.

Build Relationships: Form Relationships - Builds trusting, collaborative relationships and alliances across functional and organizational boundaries. Relates to others in an accepting and respectful manner, regardless of their organizational level, personality, or background. Collaborates with people from diverse backgrounds, experiences, and functional areas to discover new perspectives.

Physical Activities

The following physical activities are necessary to perform one or more essential functions of this position.

Enters and locates information on computer.Presents information to small or large groups and individuals.Communicates effectively in person or by using telecommunications equipment.Creates documents, reports, etc., using a writing instrument (such as a pencil or pen) or computer. Visually verifies information, often in small print.Reads information, often in small print.

Travel

Traveling is necessary to perform one or more essential functions of this position.

Travels domestically to and from multiple facilities or work-sites during the workday.

Entry Requirements

Minimum Qualifications

  • Bachelor’s degree in Business, Finance, Human Resources, or related field OR 2 years’ experience in compensation, finance, human resources, or related field.

Preferred Qualifications

  • 2 years’ experience in project management, data analysis, and market research. • Human Resources certification.• Certified Compensation Professional.• Project Management certification.

All the benefits you need for you and your family

  • Multiple health plan options
  • Vision & dental plans for you & dependents
  • Associate discounts in-store and online
  • Financial benefits including 401(k), stock purchase plans and more
  • Education assistance for Associate and dependents

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