Senior Compensation Analyst

$100,000 - $164,000/Yr

Forrester And Company - Chicago, IL

Full-time - Mid Level

Chicago, IL

Merchant Wholesalers, Nondurable Goods

About the position

The Senior Compensation Analyst at Forrester will play a pivotal role in executing the company's global compensation strategy and ensuring that compensation processes are tailored to meet specific business needs. This position requires a deep understanding of the end-to-end compensation process, along with the ability to build relationships and simplify complex issues. The successful candidate will be responsible for developing and maintaining a comprehensive job architecture framework that aligns with business objectives and industry best practices. This includes leading the design and creation of new job levels, roles, and job descriptions based on organizational needs and market trends. Collaboration with cross-functional teams is essential to develop communication materials and implement job architecture initiatives that align with overall HR and business strategies. In addition to job architecture, the Senior Compensation Analyst will lead the company's annual compensation planning cycle, which encompasses base salary, bonuses, and equity. This involves working closely with key stakeholders to ensure successful implementation and alignment with company goals. The role also includes serving as a key contributor in the sales compensation review process, evaluating job levels, pay mix, and payout curves, while partnering with sales leadership and finance operations to create a performance-driven sales incentive plan. The analyst will ensure the accurate and timely delivery of compensation programs and initiatives, enhancing employee satisfaction and retention. A thorough understanding of data sources, collection methods, and pay philosophy is crucial for responding to compensation inquiries and advising on strategic solutions. Conducting benchmarking analysis to develop job families and pay targets will support the strategic growth of the business and ensure internal equity and market competitiveness. Moreover, the Senior Compensation Analyst will review and audit compensation practices to ensure consistency, compliance, and competitiveness. They will perform data insights and analysis to support compensation-related activities, including budgeting and cost modeling, and continuously seek process improvements to facilitate efficient and scalable practices. The role also involves monitoring changes in legislation, particularly regarding pay transparency, and serving as the primary compensation contact for equity-related matters. The analyst will develop and deliver educational materials related to compensation to support global employee understanding and engagement, while partnering with various departments to ensure regulatory compliance of employee compensation practices.

Responsibilities

• Develop and maintain a comprehensive job architecture framework aligned with business objectives and industry best practices.
• Lead the design and creation of new job levels, roles, and job descriptions based on organizational needs and market trends.
• Collaborate with cross-functional teams to develop communication materials and implement job architecture initiatives.
• Lead and execute the company's annual compensation planning cycle (base, bonus, and equity).
• Serve as a key contributor in the sales compensation review process, evaluating job levels, pay mix, payout curves, etc.
• Partner with sales leadership, sales operations, and finance operations to create, model, and communicate a performance-driven sales incentive plan.
• Ensure accurate and timely delivery of compensation programs and initiatives, enhancing employee satisfaction and retention.
• Conduct benchmarking analysis to develop job families and pay targets to align with job architecture.
• Review and audit compensation practices to ensure consistency, compliance, and competitiveness.
• Perform data insights and analysis to support compensation-related activities, including budgeting and cost modeling.
• Continuously seek process improvements and think creatively, using technology to minimize data issues and manual work.
• Review, monitor, and respond to changes in legislation and regulations that impact compensation practices and policies.
• Serve as primary compensation contact for equity-related matters.
• Review and provide guidance on Workday business processes such as job changes and compensation changes.
• Develop and deliver educational and communication materials related to compensation.
• Partner with finance, accounting, legal, and tax departments to ensure regulatory and legal compliance of employee compensation practices.

Requirements

• Eight-plus years of experience in compensation, with a proven track record of success.
• Proficiency in Workday or similar HRIS systems for compensation data management and analysis.
• Advanced Excel skills, with the ability to analyze complex datasets and generate actionable insights.
• Strong attention to detail and analytical skills, ensuring accuracy in all aspects of the role.
• Excellent problem-solving and research skills, with the ability to provide innovative compensation solutions.
• Exceptional communication, interpersonal, and partnership abilities, capable of working effectively with diverse teams.
• Strong organizational skills, with the ability to manage multiple projects simultaneously.
• Knowledge of global compensation trends, best practices, regulations, and compliance.
• Self-motivated and has the ability to take initiative with minimal supervision.
• The ability to handle sensitive and confidential information with integrity and professionalism.

Benefits

• Health insurance
• Dental insurance
• Vision insurance
• 401(k) plan
• 401(k) matching
• Paid holidays
• Paid time off (PTO)
• Flexible scheduling
• Professional development opportunities
• Tuition reimbursement
• Employee discount programs