Job Overview

The Senior Compensation Analyst is responsible in recommending and implementing compensation programs, policies and procedures that align with the Company’s Total Rewards strategy. This position is also responsible for ensuring that the Company compensation programs are consistently administered in compliance with internal policies and governmental regulations. You will provide consultation and support in scaling compensation programs and the development of initiatives that support our Compensation roadmap.

This role can reside in the Thief River Falls or Bloomington areas (MN) and is a hybrid position with occasional travel.

Responsibilities:

Provide analysis, development, design, auditing, communication, and implementation of compensation programs including but not limited to, job evaluations, market matching, annual salary review process, salary structure, etc.
Lead projects such as job leveling, survey participation and analysis, collect and analyze market data, maintain salary survey data library, system benchmarking, and additional projects that support the Company’s Total Rewards strategy.
Determine and evaluate competitive compensation and FLSA status for individual jobs and job families by analyzing external survey data.
Responsible for incentive plan management, including incentive plan design and documentation, as well as incentive calculations with accurate and timely payments.
Create compensation data reports and tracking for assigned business units and present insight to business leaders.
Work with the HRIS team to ensure that Workday is configured to meet compensation needs and is updated to reflect changes to compensation business processes, bonus programs, etc.
Acts as an informal resource for colleagues with less experience.
Provide support and training to Human Resource Business Partners and business leaders concerning the interpretation of compensation practices, policies, and guidelines.
Perform other duties and projects as assigned to contribute to the success of the company employees, the HR team, and the organization.

Required Knowledge, Skills, and Experience:

Bachelor’s degree in human resources, finance or a related field.
Five to eight years of experience in compensation.
Strong analytical skills and supportive systems leverage (particularly Microsoft Excel/PowerPoint).
Advanced level Excel skills
Detailed oriented with a commitment to data accuracy.
Proven experience acting as a subject matter expert to the business.
Ability to prioritize and handle multiple projects at once.
Preferred: CCP certification
Preferred: Incentive compensation
Preferred experience: Workday
Preferred: Familiarity with Pay Factors (PayScale)

Tools / Systems / Software:

Full Microsoft Suite, including Teams
Outlook
Pay Factors
Workday

Physical Requirements:

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The following are some environmental conditions that one may be exposed to on a daily basis and for various lengths of time.

Work is primarily performed at a desk and/or in an office environment for 3/4 of the day and up.
The office noise level in the work environment is typically, moderate.

Job Type: Full-time

Benefits:

401(k)
401(k) matching
Dental insurance
Employee assistance program
Employee discount
Health insurance
Health savings account
Life insurance
Paid time off
Professional development assistance
Referral program
Relocation assistance
Retirement plan
Tuition reimbursement
Vision insurance

Schedule:

8 hour shift
Day shift
Monday to Friday
Overnight shift

Education:

Bachelor's (Required)

Experience:

Workers' compensation: 5 years (Required)

Ability to Relocate:

Bloomington, MN: Relocate before starting work (Required)

Work Location: Hybrid remote in Bloomington, MN

DigiKey jobs

Senior Compensation Analyst