Red Lobster Hospitality - Orlando, FL
posted about 1 month ago
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.