Hire Velocity - Woodbridge Township, NJ
posted about 1 month ago
The Compensation Analyst will play a crucial role in analyzing, developing, and maintaining compensation programs that align with the company's objectives. This position involves participating in or leading special projects such as pay structure development, job descriptions, and Affirmative Action Plans (AAPs). The analyst will benchmark jobs against survey data and other market intelligence to determine competitive compensation ranges for each position, conducting annual reviews and recommending percentage adjustments as necessary. In this role, the analyst will gather data from market-based compensation surveys and utilize spreadsheets and data analysis techniques to assess results and market trends. They will be responsible for preparing and maintaining job descriptions for each position within the organization, ensuring that these descriptions accurately reflect the work being performed by incumbents through interviews with managers, the Talent Acquisition team, and HR Business Partners. Additionally, the analyst will evaluate job positions to determine their Fair Labor Standards Act (FLSA) classification as either exempt or non-exempt and assign appropriate wage ranges. The Compensation Analyst will assist the Talent Acquisition team and HR Business Partners with new hire offers, transfers, and promotions as requested. They will lead the administration of the annual merit compensation process by compiling employee eligibility, position, salary, and other relevant information, providing managers with individual spreadsheets, consolidating returned sheets, preparing the Executive Compensation mass upload template, and coordinating with Payroll for accuracy and processing. Furthermore, the analyst will provide cost analysis leading up to and during the annual merit increase process as requested, complete annual Equal Employment Opportunity (EEO) reports, and lead the annual Office of Federal Contract Compliance Programs (OFCCP) Affirmative Action Plan data collection and preparation in partnership with outside counsel and the HR Director. The role also includes administering annual, quarterly, and monthly bonus programs for both managers and operations staff, ensuring compliance with equal pay laws, and administering a monthly service anniversary award program. The analyst will assist with compensation and equity-related communications, participate in compensation surveys, and perform associated analyses. They will study market trends to assist in developing effective compensation programs and conduct internal research and analysis to assess compensation programs and procedures across multi-state locations within the freight forwarding industry. The analyst will assist with annual compensation analysis, using both internal and external tools to ensure pay equity and market competitiveness, and ensure that compensation programs and policies comply with legal and regulatory requirements. Finally, the analyst will conduct annual reviews to ensure that current salaries do not fall below minimum wage and that exempt status positions continue to comply with legal and regulatory requirements, along with performing any other duties as assigned.