Global Compensation Analyst
Overall Purpose of the Role:
Support the Head of Compensation by delivering strong analytical support within the Reward team across global compensation activities, ensuring strong data integrity and robust processes.
Support the Head of Compensation in the set up and the execution of core compensation processes such as the annual compensation review, gender pay reporting, and the submission and analysis of market data globally.
Support the HR team with their compensation needs, working in close partnership with the HRIS team on the use of Workday to support all compensation processes and reporting.
(Duties include but are not limited to the following)
Under the supervision of the Head of Compensation, provide analytical support to the HR team on all compensation related issues including:
- Draft internal and external benchmarking to support compensation decisions for new joiners, internal moves and/or internal comparisons
- Carry out modelling and analysis of compensation solutions for non-standard arrangements or for senior employees
- Input into the development, delivery and maintenance of compensation tools for the HR teams and the business
- Support HR Managers on compensation queries related to packages and standard interpretation of policies and frameworks
- On projects, input into modelling design, build and operate modelling and deliver analysis required and defined for the project needs. As and when required by the Head of Compensation, the role would be expected to take on project coordination for a large project or project management for a smaller project.
At the time of Annual Compensation Review, support the Head of Compensation in the set up and the execution of the compensation review process which includes:
- Collaborate primarily and closely with HR Operations and HRIS teams globally to ensure issues around data and system are identified, resolved and recorded
- In close partnership with HRIS team, carry out testing of all aspects of processes (Merit and Bonus) in Workday test environments to ensure robust compensation processes
- Ensure the data used throughout the process is 100% accurate and timely to support the decision making, including both online and offline data
- Prepare key tools for HR community to support and inform decisions made on salary and bonuses, including improvement suggestions to evolve and adapt the tools to make them smarter/more effective
- During the go-live period, monitor spend tracking; contribute to identify trends/issues and to devise solutions with the Head of Compensation
- Contribute to developing communication tools and guidance for HR teams and the business
- Contribute to running of weekly meetings with HR Operations and HRIS by drafting agenda and ensuring follow-up
Global compensation market data, salary ranges and budget forecasts
- Prepare the submission of data to market survey providers (role mapping to surveys, accuracy of salary information, etc.) in collaboration with HR Ops and HRMs
- Carry out analysis of the survey results and draft recommendations on changes, if needed, to salary ranges ahead of next compensation review
- Carry out analysis of the market data (wage and price inflation) and contribute to draft recommendations for the following year’s budgets to be applied by the Finance team
- Provide analysis to support recommendations on the effectiveness and relevance of data sources
- Keep abreast of local compensation compliance requirements (e.g. Gender pay reporting, US overtime regulations, mandatory pay increases) and ensure that they are implemented effectively
Support across the HR team for their daily compensation needs:
- Maintain templates with up-to-date salary information and compensation frameworks on a regular basis used by the HR community through shared drives and HR portal
- Ensure templates with relevant market data are available on HR portal, understood and actively used to inform remuneration decisions
- Run regular reports to ensure compensation frameworks are correctly operationalised in Workday, and propose improvements ideas as needed
- Collaborate with Pensions / Benefits colleagues to ensure exchange of compensation information that impacts pensions and benefits is accurate and timely.
Support the Head of Compensation on annual Gender Pay Reporting
- Carry out the analysis and draft the submission of UK gender pay gap reportable figures for review to ensure reporting obligations are met on time
- Carry out the additional in-depth analysis of factors contributing to the reportable gap that will point to long term solutions to be devised, and to monitor year on year progress
- Keep abreast of the evolution of regulatory requirements on gender pay gap reporting, primarily in the UK and other jurisdictions
This role suits a person with graduate level of education (or equivalent) with 2 to 3 years direct experience in Compensation, who is keen to grow their expertise in a small team with global exposure.
The successful candidate needs to have:
- Knowledge of Workday in general, and Compensation module/ processes very advantageous. Keen to work in very close partnership with HRIS team on system-enabled compensation processes
- Advanced excel skills, including all basic commands to design, develop and maintain reliable Excel-based dynamic templates and cost models from multiple sources of data
- Advanced analytical skills with experience of managing numerical data and calculations
- Direct experience with strong track-record of supporting an end-to-end annual compensation review cycle
- Good understanding of job grading system and their underpinning of salary scales/ranges
- Experience in using third-party salary surveys, from submission to analysis and interpretation
- Diligent and thorough with very strong attention to detail, with an ability to work within tight timescales, and to self-review own work
- Self-starter and with strong intellectual rigour to propose initiatives to help progress work and/or resolve issues
- Strong process focus, organised and task-orientated on an operational level
- Noted ability to develop effective working relationships across multiple teams within stakeholders in and outside of HR
- IT literate, and strong PowerPoint and Word knowledge.
Preferable for the successful candidate to have:
- Exposure to short-term/long-term variable compensation programmes
- Experience of working in a complex / matrix structure
- Personal style that can engage positively with HR Team, but does not demand/expect to be client-focused
- Good written and verbal communication skills, with a proven ability to adapt communication style to suit a wide range of audiences.
- Experience of working with different cultures/ on an international basis