The Compensation Analyst / Sr. Compensation Analyst will provide analytical support to the compensation group in the areas of salary administration, pay equity review and analysis, and wage and market data. This position will administer one or more compensation initiatives/projects to include: Compensation systems, Bonus Administration, pay audits/analysis, survey administration, and general payroll reporting activities. Additionally this position will provide guidance to managers on compensation policies and practices to ensure compliance and provide system support to end users when necessary.
Compensation Analysis / Salary Administration
• Review and approve salary change assignments. Review should include transaction was entered correctly and any salary change maintains pay equity compliance. Approvals may require escalation to Sr. Comp Analyst and/or Director.
• Other projects as assigned
• Provide support to Sr. Compensation Analysts to research and review and correct system errors. Partner with HRIS to troubleshoot and fix known issues. This includes testing of systems to ensure corrections are in place.
• Create and deliver training material for HR and Managers to educate them on compensation systems.
• Research and complete market data inquiries from HR Business Partners. Ensure that vendor data base (ERI) is updated and the geographic differential information that is provided is correct and current.
• Complete job matching in survey database (MarketPay) to make certain that internal positions are matched to the appropriate external benchmark position.
• Support Sr. Comp Analysts, if applicable, during job evaluation process by providing applicable market pricing information.
Pay Audits and Compliance
• Complete annual and ad-hoc pay audits to ensure pay equity and internal equity of associates.
• Escalate any identified issues and partner with appropriate analyst to review and resolve. This includes but not limited to: Maintenance Supervisor pay compression, under min/over max audit, and missed merit audits.
• Lead the administration of the annual formal and discretionary bonus processes. This includes the computation of bonus awards based on financial results and personal objectives.
• Maintain plan appendices that accurately reflect bonus plan designs for bonus eligible positions.
• Ensure that overall incentive plans are reviewed annually to ensure any changes are captured and communicated.
• Update and maintain department dashboards to track activity levels of PDQ reviews, change assignments, market data requests, draws, and pay exceptions. Dashboards are to be completed on a quarterly and annual basis.
• Partner with HRIS to leverage Qlik technology when possible.
• High School Diploma or equivalent required
• Bachelor's Degree preferred, concentration in Business, Finance, Human Resources preferred
• CCP certification preferred
• PHR or SHRM-CP preferred
• This role will officially be classified as a Compensation Analyst or a Senior Compensation Analyst based on the following:
- The Compensation Analyst requires at least 4 years of experience in compensation or data analytics
- The Senior Compensation Analyst requires at least 6 years of experience in compensation or data analytics, and possesses several of the preferred qualifications outlined below.
• Experience with variable pay plans, budget and structure activities, and job evaluation (point-factor methodology) preferred
• 2 years of experience with HR/Finance Analytics preferred
• Should have a general understanding of compensation practices and pay laws and regulations
• Knowledge of compensation system preferably Oracle, MarketPay, and ERI preferred
• Advanced Excel skills required, Access and PowerPoint preferred
• Must be able to make decisions using sound judgement
• Ability to identify and escalate issues when needed is required
• Ability to diagnosis a system issue and/or be resourceful to solve the issue is required
• Must have a high level of written and verbal communication as well as strong presentation skills
• Must have a customer centric mindset - providing a high level of service to HR business partners and operators
• Ability to work on projects, both team and individual required
• Must have a high level of personal integrity including keeping high sensitive information confidential
• Regular, predictable, full attendance is an essential function of the job.
• Willingness to work the required schedule, work at the specific location required, complete Penske employment application, submit to a background investigation (to include past employment, education, and criminal history) and drug screening are required.
- The physical and mental demands described here are representative of those that must be met by an associate to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- The associate will be required to: read; communicate verbally and/or in written form; remember and analyze certain information; and remember and understand certain instructions or guidelines.
- While performing the duties of this job, the associate may be required to stand, walk, and sit. The associate is frequently required to use hands to touch, handle, and feel, and to reach with hands and arms. The associate must be able to occasionally lift and/or move up to 25lbs/12kg.
- Specific vision abilities required by this job include close vision, distance vision, peripheral vision, depth perception and the ability to adjust focus.
Penske is an Equal Opportunity Employer.
About Penske Transportation Solutions
Penske Transportation Solutions is the umbrella brand for Penske Truck Leasing, Penske Logistics, Epes Transport Systems, Penske Vehicle Services, and related businesses. Our businesses provide innovative transportation, supply chain and technology solutions to keep the world moving forward. Visit GoPenske.com to learn more.