24 Hour Fitness, INC. Sr. Compensation Analyst in San Ramon, California
LOCATION 12647 Alcosta Blvd San Ramon CA 94583
Reporting to the Senior Manager of Compensation, this position will develop, implement, and administer compensation policies, procedures, practices, and programs. The Sr. Compensation Analyst will conduct surveys and study labor markets to determine compensation trends. This position will analyze jobs, and review job descriptions and specifications and will apply job evaluation techniques to establish equitable compensation rates within the organization as compared with rates in industry. The Sr. Compensation analyst will review classification and compensation changes and makes recommendations with respect to tasks to be performed, qualifications of employee, and company policy and budgetary limitations. This position will provide guidance to drive business strategies and make recommendations to line managers and generalists on all compensation issues. Will be expected to interpret local, state, and federal laws regulating compensation practices. The Compensation Analyst work with cross-functional teams and will collaborate with the compensation team on compensation strategy and design, LTI, Corporate Bonus Plan(s) and Incentive Plan(s).
ESSENTIAL DUTIES & RESPONSIBILTIES Estimated % of Time Spent
- Compensation Analysis and Reporting and Projects
Prepare detailed complex models and monthly/quarterly reports.
Calculate monthly and quarterly bonus accruals and partner with other departments as needed.
Prepare analysis to support special projects, as needed.
Develops and/or participates in compensation surveys to collect and analyze competitive salary information to determine company's competitive position. Track and monitor survey participation, including costs and submission dates. Recommend survey process improvements and continually looks for new market data sources.
Research and recommend improvements to compensation processes or workflows and support the development, implementation and maintenance of compensation tools and systems.
Formulates recommendations regarding development of company salary structure, FLSA exemptions, job revisions and organizational structures. Reviews existing and proposed statutory requirements governing compensation administration and recommends appropriate courses of action.
May prepare special studies and recommendations on subjects such as incentive compensation, bonus plans, sales compensation, long term incentive or stock options.
- Client Group Support/Job Evaluations
Serve as an advisor and consultant to the business to help solve compensation related issues that align with the company's compensation philosophy and business objectives.
Prepare internal equity and market analyses for assigned positions based on benchmark and related market information and recommend competitive grade, FLSA exemption and compensation (base and bonus).
Partner with Human Resources Business Partners and Talent Acquisition to provide recommendations on external and internal offers.
Audits jobs for content and prepares job descriptions reflecting job responsibilities, activities, duties and requirements.
Reviews proposed salary adjustments for conformance to established guidelines, policies and practices.
- Cyclical Processes & Field Compensation Plan Documents
Lead cyclical/focal review programs such as merit, minimum wage and bonus from inception to execution and provide support to HR Business Partners.
Manage third party vendor relationship providing guidance on program milestones, tool enhancements/requirements and testing.
Prepare executive summaries and analysis to obtain final approval of merit/bonus spends.
Create accurate and timely Human Resources Information Systems/Payroll upload/data files.
Lead post implementation/lessons learned, obtaining feedback from key stakeholders and recommending process/program efficiencies and changes.
Participate in the design and/or analysis of bonus plans.
Update Field Compensation Plan documents.
Ensure plans are posted on all internal sites and made available to our HR Business Partners. 20%
This position reports to the Senior Manager of Compensation and does not have any direct reports. The Senior Compensation Analyst will serve as a consultant to management. The Analyst must also form good internal business relationships with other Human Resources functional areas such as Legal, Human Resources Information Systems, Payroll Commissions and Finance.
Knowledge, Skills & Abilities
Contributes to the development of new concepts, techniques, and standards.
Develops solutions to complex problems; takes a new perspective using existing solutions or creates new solutions.
Considered a subject matter expert within the organization.
Strong statistical analysis skills.
Familiarity with submitting survey data input, interpreting survey results, and creating detailed reports.
Ability to conduct job evaluations and create salary structures.
Strong verbal and written communications skills.
Ability to work independently, on multiple tasks with excellent time management and organization skills.
Ability to interact with all levels of employees with a positive attitude of customer service.
Ability to be flexible in changing work priorities.
Minimum Educational Level/Certifications
Minimum Work Experience and Qualifications
- 8+ years related experience in Compensation, business analysis, financial analysis.
FUNCTIONAL GROUP Human Resources