What are the responsibilities and job description for the Compensation & Financial Rewards Analyst position at Worthington Steel?
Join our Human Resources team as a Compensation & Rewards Analyst! The Compensation & Rewards Analyst role will focus on compensation and a variety of projects that support the Total Rewards strategy. This role requires strong analytical skills and will be responsible for ensuring market-competitive compensation structures for hourly and salaried positions. Tasks will include: annual market reviews, merit processes, ad hoc market reviews related to new or changing roles and development and evaluation of internal position descriptions. This role administers various compensation programs, provides annual employee communications, and submits and tracks invoices to quantify total rewards spend. It also supports the development, analysis and implementation of various rewards programs and incentive-based compensation programs; conducts and participates in compensation surveys facilitated by third party vendors; and may assist with preparation of data for Compensation Committee of the Board of Directors. The ideal candidate is a highly analytical communicator with excellent organizational and prioritizing skills.
Responsibilities
- Conducts annual market reviews, completes merit process setups, analyzes and maintains pay structures and practices. Provides initial recommendations for structural changes and merit budgets. Creates and maintains HR compensation tools.
- Administers executive compensation programs, tracks incentive plan targets, compiles and distributes award letters. May assist with preparation of executive compensation materials for the Compensation Committee of the Board of Directors and data for the Annual Proxy Statement.
- Submits benefits invoice payment requests. Supports ad hoc total rewards data requests. May provide support for other tasks and assigned programs including backup for funding of benefits programs (401k, HSA, etc.).
- Coordinates quarterly stock award process. Creates, sends and maintains files for 3rd party stock plan administer. Provides general support for stock plan administration in coordination with legal and financial reporting departments.
- Maintains external market survey database matches and market pricing system. Participates in external market survey questionnaires. Evaluates roles and responsibilities and recommends placement of new and modified positions in the compensation structure based on market value, internal equity and proper FLSA classification.
- Provides guidance to managers and HR consistent with the Company’s compensation philosophy regarding compensation issues. Provides ad hoc compensation analysis and offer letters, and other documentation, for salaried new hires, promotions, position changes, etc.
- Participates in special projects related to various incentive compensation programs or other strategic rewards projects and HR initiatives. This may include support for administering programs or implementing process improvements.
- Other duties as assigned.
Desired Experience
- Advanced skill in Excel and other MS Office applications
- Strong communication skills
- Strong organizational and analytical skills
- Strong math and statistics skills
- Excellent prioritizing skills
- 3 years of human resources, financial or business analysis, payroll or compensation related experience
- Bachelors degree or equivalent experience
