Compensation Analyst

Red Lobster - Orlando, FL

Full-time - Mid Level

Orlando, FL

Food Services and Drinking Places

About the position

The Compensation Analyst at Red Lobster plays a crucial role in providing research and analytical support to various stakeholders, including Human Resources, Finance, and Legal departments. This position is responsible for preparing accurate and detailed analyses, calculations, and reports that assess the effectiveness of assigned compensation programs and services. The Analyst will manage the annual merit review cycle, which encompasses merit increases, bonuses, and long-term incentives, ensuring that the company remains compliant with all applicable federal, state, and local wage laws. Additionally, the Analyst will stay informed about current and anticipated policy changes, providing timely updates to key stakeholders. In this role, the Compensation Analyst will ensure that personnel records are accurately maintained within the HR system, including assisting with testing for PeopleSoft upgrades and other system updates. The Analyst will manage the annual merit and bonus processes, oversee the long-term incentive program, and execute reporting for statistical and comparative analysis related to various compensation programs. They will serve as a resource for interpreting federal, state, and local laws related to compensation, ensuring compliance and providing salary recommendations based on thorough research and analysis of competitive market data. The Analyst will also be responsible for the administration and coordination of various compensation programs, including offers of employment, promotions, demotions, and termination packages. They will develop, modify, and run queries and reports to generate data for compensation planning, conduct market surveys, and maintain compensation-related tables and data in HR systems. Furthermore, the Analyst will provide guidance on compensation plans and programs, influence the implementation of new compensation initiatives, and fulfill ad hoc reporting requests from Operations and HR Leadership. This position requires a strong analytical mindset, excellent communication skills, and the ability to manage multiple initiatives simultaneously.

Responsibilities

• Ensure personnel records are accurately reflected in the HR System, including assisting in testing of PeopleSoft upgrades and other system updates.
• Manage the annual merit and bonus processes.
• Oversee the long-term incentive program, including annual awards, yearly vesting, and biweekly updates.
• Execute reporting for statistical and comparative analysis for various compensation programs.
• Interpret federal, state, and local laws related to compensation programs to ensure compliance, including minimum wage updates.
• Provide salary recommendations through research and analysis, interpreting competitive market data to benchmark positions.
• Administer, coordinate, and organize 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.
• Prepare statistical analysis, data modeling, and 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.
• Provide interpretation and guidance regarding compensation plans and programs for all employees.
• Influence and assist with the implementation of new compensation programs, 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.

Requirements

• Bachelor's degree in Business, Human Resources, Finance, or related field.
• Minimum two (2) years experience in Finance and/or Human Resources.
• 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.

Nice-to-haves

• 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.
• Advanced degree.
• SHRM Certification.
• Certified Compensation Professional (CCP) designation or working toward CCP designation.