Compensation Analyst

Taylor Communications - Minneapolis, MN

Full-time - Mid Level

Minneapolis, MN

5,001-10,000 employees

Wholesale Trade Agents and Brokers

About the position

Taylor Corporation is seeking a Compensation Analyst who will play a pivotal role in leading the compensation aspect of our total rewards strategy. This position is designed for an individual who is ready to take on challenges and contribute to the organization's goals by analyzing compensation programs for market competitiveness and ensuring they meet employee needs. The Analyst will be responsible for overseeing the salary structure process, utilizing both external market data and internal data to make informed recommendations for changes to the structure and salary ranges. This role requires a proactive approach to providing consultation and guidance to HR team members regarding compensation adjustments, compression analysis, and compliance with FLSA requirements and federal contractor pay rates. In addition to overseeing the annual merit pay process, which includes assisting with budget recommendations and creating the merit matrix for budget alignment, the Compensation Analyst will also assist managers and HR with unique compensation situations. The role involves maintaining the incentive pay program to ensure consistent levels of incentive pay are upheld, and working closely with the finance team during the annual incentive pay calculation and payment process. The Analyst will also maintain a compensation timeline to ensure that all key processes are completed by their target dates. Active participation in meetings with brokers to discuss benefit strategies, compliance requirements, and other projects is also a key responsibility. Furthermore, the Analyst will provide data analytics to support internal decision-making and recommendations for change.

Responsibilities

• Oversee the salary structure process using external market data and internal data.
• Make recommendations for changes to structure and salary ranges.
• Provide consultation and guidance to HR team members in the areas of compensation adjustments, compression analysis, and compliance with FLSA requirements.
• Oversee the annual merit pay process including assisting with budget recommendations and the creation of the merit matrix.
• Assist managers and HR with recommendations and unique situations.
• Oversee the incentive pay program ensuring consistent incentive pay levels are maintained.
• Work closely with finance team during the annual incentive pay calculation and payment process.
• Maintain the compensation timeline to ensure all key processes are achieved by the target date.
• Actively participate in meetings with our broker to discuss benefit strategies and compliance requirements.
• Provide data analytics to support internal decision making or recommendations for change.

Requirements

• 3+ years of multi-state compensation experience
• Strong analytical skills and ability to generate complex forecasts of cost or impact of a change
• Ability to work well with all levels of employees and leadership
• Ability to effectively take action to solve problems while exhibiting sound judgment
• Demonstrated proficiency with the standard features of Microsoft Excel and PowerPoint
• Excellent organizational skills, including the ability to work effectively under pressure and deal with multiple priorities
• Demonstrated ability to handle confidential material and information in an ethical, professional manner
• Excellent communication and customer service skills; both written and verbal
• Excellent decision-making skills
• Benefit knowledge or experience

Nice-to-haves

• Bachelor's Degree in Human Resources, Business Management, or a related field (or equivalent experience)
• Workday experience

Benefits

• Comprehensive benefit package including several health plans to choose from
• Dental and vision insurance
• Wellness programs
• Life and disability coverage
• Flexible spending accounts
• Health savings accounts
• 401(k) plan with company match
• Paid time off (PTO)
• 64 hours of annual holiday pay