SUMMARY
The Senior (Sr.) Compensation Analyst researches, analyzes, audits, evaluates, implements, and communicates base pay and multiple incentive programs. This position ensures compensation programs are competitive by participating in compensation surveys, analyzing market data, and recommending pay grade changes. Consults and partners regularly with HR and business leaders on issues concerning job evaluation, pay, internal equity, and organizational changes. Analyzes complex issues, transactions, and projects independently as well as collaboratively with cross-functional team members. The Sr. Compensation Analyst acts as a subject matter expert (SME) for all compensation-related matters across JOANN and regularly consults with Finance/Accounting departments. Works effectively in a team environment interacting with all levels of the organization and coaching members of the compensation team. This position will stay up to date on compensation industry trends and ensures compliance with country and local regulations. Administers and maintains all compensation and incentive programs for the Field Stores, Distribution Centers (DCs), and Store Support Center (SSC).
JOB DUTIES
- Conduct job evaluations and salary surveys. Develop, review, and approve job descriptions. Determine appropriate pay grades using recognizable survey data and provide sound recommendations and conclusions to the department manager. Evaluate current programs against market/industry best practices and lawful compliance. Provide support and counsel to Business Partners (DC, Field, and SSC) in the preparation of job descriptions and in communicating the compensation philosophy, practices, and policies.
- Partner with the Store Finance and Store Operations departments in the financial and statistical analysis, forecasting, and development of field incentive plans. Assist the Manager of Benefits & Compensation in the same processes for SSC/DC incentive plans. Calculate and process incentive payments per program design.
- Routinely lead special, often large project work to support department objectives, which requires reliance on previous experience and a wide degree of latitude to accomplish goals. Act as a mentor and leader to others within the department. Provide training, support, and guidance during large compensation initiatives.
- Develop, generate, and validate necessary compensation and HR-related reports and analysis and distribute them to the appropriate personnel including senior management. Maintain Compensation plans, processes (including merit and bonus reviews), incentives, dashboards, reports, and documentation with the HR System. Drive analysis of the current organizational-wide wages and make recommendations for adjustments as appropriate. Responsible for updating and maintaining the integrity of all compensation grades, including staying up to date on State and Federal minimum wages.
- Lead, develop, and implement executive, manager, and Team Member compensation communications including those around the annual bonus plan and long-term incentive plans. Create and model yearly incentive plan cost analysis and provide detailed reports to Finance for budgeting purposes.
SUPERVISORY RESPONSIBILITIES
May act as a mentor to other analysts at the direction of the manager.
EDUCATION & EXPERIENCE
Education Minimum: Bachelor’s Degree in Human Resources, Finance, Business or related field
Education Preferred: Certified Compensation Professional (CCP) designation.
Experience Minimum: 5+ years of experience in compensation administration
Experience Preferred: Experience using compensation platforms including Workday and Payfactors
KNOWLEDGE, SKILLS & ABILITIES
- A high degree of accuracy, confidentiality, and timeliness is required for the completion of assigned projects
- Must have aptitude and ability to learn and use multiple systems including Workday, Payfactors, and SAP
- Strong knowledge of FLSA related policies/laws
- Strong written and verbal communication skills
- Ability to work independently and within a team while assuming responsibility
- Demonstrated analytical and problem-solving skills
- Ability to lead the work of less experienced team members
- Excellent Excel skills are necessary
This position will be located at: 5555 Darrow Road Hudson, OH 44236
Eligibility for benefits and incentives is dependent upon employment status. JOANN offers the following benefits and incentives to eligible Team Members:
- Medical, Dental, and Vision benefit plans
- Company-paid basic, Optional, and Dependent life insurance
- Long-term disability and Company-paid Short-term disability
- Paid Time Off and Sick Time
- Tuition Reimbursement
- Team Member Discount
For more details on benefits and eligibility requirements, Click Here or visit https://joann.myben.site/
JOANN is an Equal Employment Opportunity Employer. This job summary is intended to be brief and does not list all duties for this position. Nothing in this job description should be construed as an express or implied contract of employment. JOANN is an at-will employer, which means that your employment may be terminated by JOANN or yourself with or without notice or cause unless the at-will arrangement is modified by a written agreement signed by both you and an authorized representative of JOANN.
