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Compensation Analyst

2 days ago

Waterloo, Canada Equitable CA Full time

At Equitable, we realize that your work life is not just about performing a job; it's about being part of a workplace that helps you grow and reach your full potential. Within our friendly and collaborative work environment, we recognize that the key to our growth and success is a dedicated, motivated and client-responsive staff. Join Equitable today.
**Position Title**: Compensation Analyst
**Reports To**: Manager, HR Data & Systems
**Department**: Human Resources
**Term**: Permanent Full-Time
**Work Arrangements**: This is a hybrid role. You will work in our office in Waterloo, ON a minimum of two (2) assigned, consecutive days every other week, plus a fifth (5th) assigned day per month. You are welcome to work from the office more than the minimum requirement and there may be some roles that are required to work in our office more than the minimum requirement.
**The Opportunity**: Equitable is growing We are looking for a Compensation Analyst to join our Human Resources team
Our Compensation Analyst will acquire and analyze data and maintain compliant administration of compensation programs to ensure we have an equitable and competitive compensation framework, while following legislation and best practice.
Now is an exciting time to join one of the Waterloo Area’s and Southwestern Ontario’s Top Employers for 2024
**What you will be doing**:

- Develop strategy for market compensation and labour market survey participation, prepare survey data, and analyse results to make recommendations on annual salary and policy increases.
- Research, analyze, and develop modifications to compensation programs to meet identified organization objectives and needs.
- Monitor competitive trends in compensation, review changes in compensation law, and identifies the organization's position.
- Salary administration, and bonus program calculations, including equity adjustments.
- Calculate bonus, salary and benefits expense estimates for Finance department budgeting cycles.
- Research future remittance projections to inform future budget estimates.
- Update compensation plan documents annually (Incentive Bonus programs, Sales Compensation programs), and assist in creation of new plan documents when needed.
- Create documentation that bridges plan design with actual plan administration.
- Manage communication of compensation plan changes, and coordinate employee acknowledgment program.
- Complete annual legislated Pay Equity maintenance calculations, and associated memos.
- Ensure that compensation practices comply with current legislation (pay equity, ESA, human rights, etc.)
- Contribute to Total Rewards projects with research and analysis as required.
- Develop and deliver training for Equitable’s managers on compensation best practices.
- Contribute to the HR Job Evaluation Committee by:

- Managing company job descriptions and conduct job evaluations (Hay Methodology) for all level of roles.
- Developing a Job Architecture model, with more focus on shared job families as company grows.

**What you will bring**:

- Education in Human Resources, Business Administration or Finance preferred, CHRP considered an asset.
- A minimum of 5 years’ experience in compensation is required.
- Proficiency in Points Factor Methodology Job Evaluation (Hay or similar).
- Advanced Excel skills (e.g. vlookup, macros, IF statements, pivot tables) with a strong analytical and problem solving ability.
- Prior experience participating in salary and labour market surveys.
- Familiarity with various types of compensation and incentive plans (S/LTI, Sales Compensation, Hourly compensation, etc.).
- Thorough understanding of local, provincial and federal laws governing employment and compensation (i.e. Pay Equity Legislation, Employment Standards Act).
- HR expertise, and knowledge of HR systems.
- Excellent verbal and written communication skills, with strong relationship management ability.
- Strong analytical and problem-solving skills.
- Proficiency with Microsoft Office 365.
- Proficiency with or the ability to quickly learn Dayforce HRIS.
- High level of discretion to manage confidential data and programs, including direct work with the AVP and EVP to produce and analyze information that is not available to other members of Human Resources.

**What’s in it for you**:

- A healthy work-life balance with employee wellness top of mind
- Annual bonus program, annual vacation allowance, and company-paid benefits program
- An additional paid volunteer day each year so you can spend time giving back to the community
- Immediate enrollment in the company’s pension program with employer matching
- Employee resource groups that support an inclusive work environment
- Tuition support and specialized program assistance
- An onsite full-service cafeteria with a variety of daily options
- Discounts on company products and services, and access to exclusive employee perks
- Regular EQ Together events focused on company togetherness and collabo