In this role, you will manage the administration of base salary compensation, quarterly and annual incentive plans, job evaluations, market pricing, salary structure, merit budgets, recognition programs and administration of year-end merit, bonus and stock awards. He/she will oversee, develop, recommend, and implement improved, or new compensations plans policies. He/she will also help to ensure internal equity, external competitiveness, and compliance with all applicable laws, regulations and organizational policies.
- Administer compensation plans in Workday HRIS, including ensuring employees are accurately assigned to eligible compensation plans, ensuring eligibility rules are kept current, and driving the execution of year-end compensation planning (i.e., merit, bonus and stock awards) which includes communication and training of employees, managers and HR partners on the year-end compensation planning process, and partnering withHRIS/Payroll to ensure accurate payment of compensation.
- Advise in the design, implementation and administration of all corporate compensation programs.
- Analyze, evaluate and advise on the design of variable pay programs including short-term incentive, long-term incentive programs and sales incentive programs with the specifications for new plans or modifications to existing plans to maintain the company's competitive position market.
- Identifies and participates in salary surveys to obtain current data for job evaluations to ensure the company is competitiveness in the marketplace. Evaluate and analyze salary data, conduct job evaluations and determine pay grades and salary recommendations. Conduct market studies to determine benchmarks, gathering going rates of pay, and determining competitive positioning.
- Analyzes, forecasts and reports labor market trends and developments in pay, unemployment, CPI and turnover. Assists in in the preparation of merit budget recommendations salary structure changes and other related actions.
- Maintain job families, title and grades.
- Responsible for managing the integrity of the overall job data in the HR system to ensure employees are classified correctly and report data is accurate.
- Contribute in the preparation of materials for the Board of Directors Compensation Committee.
- Provide guidance and support to HR leaders on compensation related matters.
- Recommend compensation programs that ensure consistent applications across the organization. Drive processes to recommend changes to ensure competitiveness of compensation programs and cost effectiveness for non-executive levels.
- Maintains current knowledge of environmental, legal and regulatory factors that impact compensation practices. Keeps current on trends in total rewards strategies.
Skills & Experience
- Bachelor's degree in Business Administration, Human Resources or related field, or equivalent work experience.
- Must have a minimum of 5 years' experience with design and administration of compensation programs.
- Minimum of 2 years of experience with Workday HCM and Advanced Compensation (i.e., year-end merit, bonus and stock awards consolidated Workday business process) strongly preferred.
Required Technical Skills
- Must be technologically adept and able to work with multiple Microsoft applications, HRIS, etc.
- Advance knowledge of Excel (pivot tables, VLookUp, Concatenation and other functions).
- Experience in incentive compensation plan design and administration, including but not limited to sales incentive compensation.
- Must have high work capacity, results-oriented drive and strong sense of urgency.