Compensation Analyst

About the role

As a Compensation Analyst at Biomerics, you will play a crucial role in supporting the development, implementation, and management of the company's compensation programs. Your responsibilities include analyzing compensation data, conducting market research, and ensuring that compensation practices are competitive and equitable.

Responsibilities

• Conduct analyses of compensation data to ensure internal equity and external competitiveness, evaluating salary structures, job roles, and packages with recommendations as needed.
• Perform market research and benchmarking, analyzing trends and providing recommendations based on industry data.
• Affiliate in developing, maintaining, and aligning job families, salary ranges, and pay structures with organizational goals and market practices.
• Prepare and maintain accurate reports and data on compensation metrics, trends, and comparisons, ensuring data integrity across systems.
• Ensure compliance with federal, state, and local regulations, monitoring changes and implementing necessary adjustments.
• Support the design, management, and evaluation of incentive and bonus programs, recommending improvements.
• Provide guidance and respond to employee and management inquiries on pay structures, adjustments, and incentive programs with clear communication.
• Identify and implement process improvements to enhance the efficiency and effectiveness of compensation operations.
• Utilize compensation management systems and tools, maintaining functionality, data quality, and collaborating with IT/vendors to resolve issues.
• Collaborate with HR, finance, and other departments to align compensation practices with organizational objectives and support related projects.
• Assist with total rewards initiatives, including benefits, wellness programs, and employee perks, ensuring integration with compensation strategies.
• Support the evaluation and implementation of Workday modules related to compensation and total rewards programs.

Requirements

• Bachelor’s degree in Human Resources, Finance, Business Administration, or a related field or an equivalent combination of education and experience.
• Minimum of 2 years of experience in compensation analysis or a related field.
• Strong understanding of compensation principles, practices, and regulations.
• Proficiency in compensation software and tools (e.g., PayScale, MarketPay, Compensate).
• Experience with Workday HCM, particularly in compensation and/or benefits modules; Workday implementation experience is a plus.
• Knowledge of total rewards programs, including benefits, wellness, and perks, with the ability to integrate these into broader compensation strategies.
• Excellent analytical skills with the ability to interpret complex data and provide actionable insights.
• Strong communication skills, with the ability to present data and recommendations clearly to management and stakeholders.
• High level of integrity and discretion when handling confidential information.
• Ability to work independently and as part of a team, managing multiple priorities in a dynamic environment.