Title of Post: / Compensation & Benefits Analyst
Pay Range: / B
Department/Directorate: / Human Resources
Accountable to: (if applicable)
Responsible for: (if applicable) / Head of Compensation & Benefits
Main Job Purpose
To provide analytical support to the Head of Compensation & Benefits and the Human Resources department.
Help to deliver agreed C&B projects and annual pay cycle activities e.g. Annual performance related pay review, quarterly and annual bonus calculations and communications, benefit renewals including re-brokering, provision of key HR reports / statistics e.g. monthly KPI and dash boards, Gender Pay Gap, statutory returns etc.
Organisational Structure
Key Duties and Responsibilities
Data analysis
- Prepare data for compensation and benefits analyses
- Clean reported data and check the quality of data
- Analyse compensation data against compensation policies and Pay positioning or grade ranges. Reports non-compliant cases and behaviour to the Head of Compensation & Benefits
- Produces key HR monthly, quarterly and annual summaries, reports and bespoke Excel packs
- Provides support to HR Business Partners with Compensation and HR data
- Seeks new sources and methods of obtaining data and providing MI which are more accurate and less labour intensive
- Benchmark roles, recommend pay bands, ranges and benefits. Produce pay recommendation overview and ensure recommendations align to Compensation & Benefits (C&B) strategy and market pricing policy. (Middle management and below)
- Devise and update the pay benchmarking spreadsheet
- Obtain data and complete salary survey data submissions for survey providers
- Co-operate with the salary benchmarking external consulting company
- Answer questions from survey providers
- Conduct market research where there are gaps in survey market intelligence
- Assist with drafting communications and plan rules
- Calculate quarterly and annual bonus and incentive payments and produce communication documents (Employee communications & bonus statements)
- Ensure all bonus communications are clear, easy to understand and sent to managers and employees within agreed deadlines
- Ensure any special action is taking when calculating bonuses in accordance with the bonus rules e.g. sickness, maternity, career breaks etc.
- Run audit reports and inform the C&B Manager about the results of audit tests
- Continuously improves bonus calculation spread sheets and the process to improve accuracy and streamline the process
- Collates requests, produces the master spreadsheet, benchmarks roles and makes recommendations (Reviewed by the Head of Compensation & Benefits)
- Keeps relevant managers informed of progress
- Ensure the future pay changes and oddity spreadsheets are updated.
- Keep the retention risk spread is sheet updated following each month’s payroll
- Assist with drafting Manager and Employee communications including Q&As and pay increase statements
- Note any oddities and override pay increases and reasons, where necessary
- Produce the skeleton APR spreadsheet including formulas and Vlookups for review by Head of Compensation & Benefits
- Call off related pay grades etc. data from the HR system and populate the skeleton
- Continuously improves bonus calculation spread sheets and the process to improve accuracy and streamline the process. Seeks new sources and methods of obtaining data which are more accurate and less labour intensive
Car Policy
- Ensure the car fleet and car allowances are in run in accordance with the Car Policy and liaise with Payroll to ensure appropriate records up to date and correct
- Summarise costs and highlight any exceptions or variances
- Ensure driver records are kept up to date and tax year records easily available detail cars driven by driver through the year with the relevant P11d data.
- Control the spare fleet car bookings and ensure the booking form is completed, driving licence copies taken and the fleet spare usage spread sheet is promptly updated.
- Produce membership and cost summaries for the previous policy year. Obtain data and complete any benefit provider spread sheets within agreed deadlines. Assist with drafting any Manager and Employee communications, as required
- Responsible for the successful delivery of agreed projects, within agreed standards, by an agreed deadline
- Assist the Head of Compensation of Benefits to successfully deliver larger / key Compensation & Benefit projects. Obtain data and keep any related project spread sheets up to date promptly each month following payroll
- Determine and recommend changes to streamline policies and processes and make them more efficient
- Coaches and advises Managers, Employees and other members of the HR team on basic C&B topics
Acceptance
Accepted
Manager...... Print Name……………………...... Date......Jobholder...... Print Name……………………...... Date......
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