Sr Compensation Analyst

Overview

The Sr Compensation Analyst is an integral part of the Total Rewards team, responsible for the development, implementation, management, and continuous improvement of compensation programs and policies at ERMCO. This role collaborates with the Sr Manager, Total Rewards, and cross-functional teams, including finance, legal, and operations, to establish a robust compensation framework that attracts, retains, and motivates top talent while ensuring internal equity and fairness.

Responsibilities

• Design and implement comprehensive compensation strategies that align with organizational goals, attract, and retain talent, and ensure market competitiveness.
• Conduct regular market analysis and compensation benchmarking studies to ensure the organization's pay practices remain competitive and equitable.
• Develop and maintain salary structures, including pay grades and ranges, to support consistent and fair pay practices across the organization.
• Design and manage performance-based pay programs, including short-term and long-term incentive plans, that motivate employees and align with business objectives.
• Ensure all compensation programs comply with local, state, and federal laws and regulations, including equal pay laws and minimum wage requirements, while staying current with changes in compensation-related regulations and practices.
• Oversee the compensation budget, collaborating with the finance department for forecasting future compensation needs and managing salary adjustments and increments within budgetary constraints.
• Analyze compensation data to identify trends, disparities, and opportunities for improvement. Prepare detailed reports and presentations for senior management and stakeholders.
• Develop and execute communication strategies tailored for various organizational levels to effectively convey compensation policies, changes, and rationale to employees, enhancing transparency and understanding.
• Collaborate with benefits, HRIS, and talent management teams to ensure an integrated approach to total rewards, aligning compensation with other elements of the employee value proposition.
• Develop and update compensation policies and procedures to ensure best practices, consistency, and operational efficiency across the organization.
• Engage with senior leadership, managers, and HR partners to gather input on compensation needs and ensure alignment with business and talent strategies.
• Lead job evaluation processes to establish the relative value of positions within the organization and ensure internal equity.
• Provide training and resources to managers on compensation topics, including the design of training materials, delivery of workshops, and guidance on pay decisions, salary discussions, and understanding of compensation structures.
• Manage relationships with compensation survey vendors and consultants, ensuring access to relevant and accurate compensation data and insights, while maintaining data quality and relevance.
• Continually assess and refine compensation practices and systems for greater effectiveness, staying abreast of compensation trends and innovations in the field

Qualifications

• A Bachelor’s degree in HR, business, finance, or a related field is required.
• A minimum of 5 years of experience in compensation. 
• In-depth knowledge of compensation practices, trends, and regulatory requirements.
• Expertise working with major survey vendors, conducting salary surveys, performing ad hoc analysis, and creating salary structures.
• Proficiency in compensation cycle management, including the design and management of pay programs and structures.
• Strong expertise in working with HRIS and compensation management software.
• Expert-level Excel user with strong analytical, mathematical, and data visualization skills (e.g., Power BI, Tableau).
• Preferred Qualifications: 
• A Master’s degree or relevant certifications (e.g., Certified Compensation Professional (CCP) is preferred.
• Experience in specific industries or types of organizations (e.g., multinational, tech, manufacturing) is a plus.