Compensation Analyst

Red Lobster Hospitality - Orlando, FL

Full-time

Orlando, FL

Food Services and Drinking Places

About the position

The Compensation Analyst plays a crucial role in providing research and analytical support to various key stakeholders, including Human Resources, Finance, and Legal departments. This position is responsible for partnering with both internal and external stakeholders to prepare accurate and detailed analyses, calculations, and reporting. A significant aspect of the role involves analyzing the effectiveness of assigned compensation programs and services. The Analyst will manage the annual merit review cycle, which includes overseeing merit increases, bonuses, and long-term incentives. Additionally, the Analyst ensures that the company remains compliant with applicable federal, state, and local wage laws, staying informed about current and anticipated policy changes and updating key stakeholders accordingly. In this role, the Compensation Analyst will ensure that personnel records are accurately reflected in the HR System, including assisting in the testing of PeopleSoft upgrades and other system updates. The Analyst will manage the annual merit and bonus processes, as well as the long-term incentive program, which includes the annual award, yearly vesting, and biweekly updates. The position also requires managing and executing reporting for statistical and comparative analysis for various compensation programs. The Analyst will serve as a resource for interpreting federal, state, and local laws related to compensation programs to ensure compliance, including updates on minimum wage laws. The Compensation Analyst will provide salary recommendations through thorough research and analysis, interpreting competitive market data to benchmark executive, salaried, and hourly positions. This role involves owning the administration, coordination, and organization of various compensation programs, including offers of employment, promotions, demotions, and termination packages. The Analyst will develop, modify, and run queries and reports to generate data for compensation planning, preparing statistical analysis, data modeling, and cost analysis in support of the company's financial objectives. Participation in market surveys, such as CRTRA, BlackBox, and BLS, is also a key responsibility. The Analyst will maintain compensation-related tables and data in HR systems and provide interpretation and guidance regarding compensation plans and programs for all employees. Furthermore, the Analyst will influence and assist with the implementation of new compensation programs, new systems, and special projects as requested, fulfilling ad hoc query, data modeling, and reporting requests from Operations and HR Leadership. Collaboration with external partners to evaluate compensation programs, processes, and systems is essential to remain competitive and leverage best practices.

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.
• Manage long-term incentive program to include the annual award, yearly vesting, and biweekly updates.
• Manage and execute reporting for statistical and comparative analysis for various Compensation programs.
• Serve as the resource for the interpretation of federal, state, and local laws related to compensation programs to ensure compliance including minimum wage updates.
• Remain abreast of current and anticipated policy changes, provide updates to key stakeholders including Finance and Legal.
• Provide salary recommendations through research and analysis. Interpret competitive market data to benchmark executive, salaried, and hourly positions.
• Own the administration, coordination, and organization of 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, 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 to inquiries regarding Compensation plans and programs for all employees.
• Influence and assist with implementation of new Compensation programs, new 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 and leverage best practices.

Requirements

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

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.