Kenco - Chattanooga, TN
posted about 1 month ago
The Compensation Analyst plays a key role by providing guidance on various compensation topics across multiple lines of business within the United States and Canada. This position is integral to the design, implementation, and administration of total reward programs aimed at attracting, retaining, and motivating employees. A successful analyst will collaborate with stakeholders to integrate industry best practices into compensation programs and advise leaders on how to effectively leverage these programs to fully engage employees. In this role, the Compensation Analyst will partner with HR Business Partners, site-based Human Resources, and business leaders to understand their needs and provide counsel as a compensation subject matter expert. The analyst will offer expertise and guidance on all compensation matters, including salary management, compensation program administration, plan design, and addressing new hire and retention needs. The position also involves educating HR Business Partners and management on compensation philosophy and practices, ensuring that they are equipped to handle compensation-related issues effectively. The Compensation Analyst will communicate, train, and provide guidance to business leaders throughout the compensation planning process, which includes setting up and administering annual compensation programs such as merit increases and annual bonuses. Ensuring the accuracy and effectiveness of compensation information is crucial, and the analyst will act as a liaison to Human Resources Partners, HR management, and business leaders to facilitate this. Additionally, the analyst will implement procedures to streamline compensation processes to ensure compliance with regulatory requirements. This includes performing necessary audits to ensure compliance with local, state, and federal agencies, such as the Fair Labor Standards Act and the Equal Employment Opportunity Commission. The role also involves preparing complex reports, presentations, compensation analyses, and cost estimates as requested, including recurring reports. The analyst will participate in survey submission processes and maintain accurate data in the market pricing library, making recommendations regarding salary budgets. Furthermore, the analyst may lead team projects and allocate work to team members as needed, contributing to strategic objectives and reward initiatives.