Senior Compensation Analyst

Exactech, Inc.
Job Description

Job Details

Description

Purpose:

The Sr. Compensation Analyst analyzes, designs, and administers employer compensation programs, including base pay, long and short-term incentives, spot bonuses, and stock that align with company objectives for recruiting, retention, and employee engagement. Designs and communicates pay structures, grades, compensation budgets, and guidelines. Advises managers on making effective pay decisions that support employee engagement and comply with compensation policy and budgetary guidelines. Additionally, participates in compensation surveys, conducts research and analysis on market competitiveness, pay equity, and compensation trends. Position reports to the VP HR.

Duties and Responsibilities (Key Deliverables):

Compensation

1. Develop, implement, and administer compensation and incentive philosophy, policy, procedures, practices and programs to drive and execute corporate strategy, support business objectives and key company priorities. 

2. Analyzes the effectiveness of existing compensation policies, guidelines, and procedures recommending plan revision as well as new plans which are cost effective and consistent with compensation trends and corporate objectives. 

3. Analyzes company compensation policies in relation to government wage and hour regulations, prevailing rates for similar jobs in comparable industries or geographic areas, and recommends changes as appropriate to establish and maintain competitive rates.

4. Partner with  VP HR on executive compensation and Compensation Committee materials.  Responsibilities include executive benchmarking, managing stock option cap tables, and preparing board materials.

5. Analyzes organizational pay practices and makes recommendations for salary changes to ensure equity.

6. Works with rest of HR team to ensure accurate job descriptions for positions in organization. Conducts job analysis to determine appropriate salary level according to compensation guidelines and policy.

7. Helps implement special compensation programs or incentive systems for all employees or for specific groups to support the organization's objectives. 

8. Manages the Merit Planning Process utilizing the HRIS system in addition to managing process communications and establishing/tracking associated metrics.

9. Consult with leadership to determine requirements for program-specific incentive and retention plans, propose plan design and draft plan document. Implement enterprise-wide incentive plans to include coordinating participation, analyzing costs and briefing leaders on program process, timing and requirements. 

10. Perform ad hoc analysis of base and variable pay against salary surveys and/or established company ranges to ensure pay rates are both internally and externally equitable. Complete annual compensation survey submittals.

11. Create new job families/functions as needed. Market price new jobs to determine most appropriate grade assignment and develop job descriptions and other internal documentation.

12. Review new and existing jobs to determine appropriate FLSA classification in compliance with the DOL regulations.

13. Provide advice and counsel to team leaders on promotion planning, job classifications and leveling and employee compensation decisions.

14. Evaluate external labor market conditions, internal growth projections, and analyze data to drive sound talent compensation decisions.

15. Provide Sales and Management Incentive Program communication plans and achievements to all appropriate parties to ensure a high level of understanding.

Reporting & Analysis

16. Develop ad hoc reports within HRIS to provide to management on demand, or to lead to internal reporting efficiencies.

17. Prepares ad-hoc and regular management reports and metrics.

18. Optimize HRIS systems to meet organization requirements creating opportunities for automation and reduction of manual processes as it relates to compensation processes.  

19. Know and apply the Quality System and any appropriate Federal and International standards

Job Requirements:

Education:
Bachelor’s Degree in a related field from an accredited institution required; Master’s Degree preferred

Experience:

• 5+ years of experience in a human resources function with at least 3 years in a compensation and HRIS capacity.

• Knowledge of compensation principles and theory including benchmarking and classification of jobs, market data assessment, development of salary structures and variable pay programs.

• Extensive knowledge and experience with state and federal labor laws and regulations as it relates to compensation

• Must possess knowledge of HRIS.

Functional/Technical Knowledge, Skills and Abilities Required:

• Ability to create and conduct complex analytics using Excel and other tools as needed. Advanced Excel capabilities

• Strong project management skills and the ability to work independently, prioritizing and organizing workload to meet deadlines.

• Excellent verbal and written communication skills. Ability to present to multiple levels of the organization.

• Ability to research complex questions

• Strong ability to multi-task and respond effectively to changing priorities and demands.

• Desire to learn new technologies, processes, etc. and retain this knowledge

• Strong analytical skills exemplified in the ability to translate data into information and develop recommendations which include opportunities, risks, identification of stakeholders and potential impacts as well as possible solutions. 

• Demonstrated verbal and written communications capabilities as evidenced through briefings to leadership and employee communications.

• Certified Compensation Professional (CCP) preferred. Professional HR Certification (PHR, SHRM-CP) with Certified Compensation Professional (CCP) or Certified Benefits Professional (CBP) a plus

• Experience with UltiPro HRIS or similar platforms a plus

Qualifications

Education

Required

Bachelors or better.

 

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)

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