Job Overview
We are seeking a highly skilled and experienced Senior Compensation Specialist with expertise in Workday to join our Human Resources team. The ideal candidate will be responsible for managing, analyzing, and executing the company’s compensation programs, ensuring alignment with organizational goals and compliance with internal policies and external regulations. The Senior Compensation Specialist will use Workday to streamline compensation processes, manage compensation data, and provide strategic support for compensation planning and decision-making.
Key Responsibilities
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Compensation Strategy and Analysis:
- Lead the design, development, and implementation of compensation programs, including salary structures, bonus plans, and incentive programs.
- Perform market benchmarking and compensation analysis to ensure competitiveness and equity.
- Monitor compensation trends and recommend changes to compensation practices based on internal needs and external market trends.
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Workday System Management:
- Administer and optimize Workday Compensation module, ensuring accurate data management for salary, bonuses, job evaluations, and other compensation components.
- Work closely with HRIS and IT teams to troubleshoot and resolve any Workday system issues related to compensation data.
- Maintain and update Workday compensation templates, compensation structures, and business processes to align with evolving company needs.
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Compensation Compliance:
- Ensure compensation practices comply with relevant labor laws, regulations, and company policies.
- Provide support for compensation audits and ensure data accuracy and integrity.
- Prepare and deliver reports related to compensation structures, pay equity, and internal pay practices.
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Collaboration and Support:
- Partner with HR business partners, finance, and leadership to provide compensation recommendations that support organizational goals.
- Support talent acquisition and HR in developing competitive offers and managing compensation issues.
- Provide guidance and training on compensation programs, policies, and tools to HR teams and managers.
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Reporting and Metrics:
- Generate compensation reports and dashboards using Workday to track compensation spend, pay equity, and other relevant metrics.
- Analyze compensation data to identify trends, gaps, and opportunities for improvement in compensation practices.
- Prepare executive-level presentations on compensation trends, plans, and recommendations.
Qualifications
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Education:
- Bachelor’s degree in Human Resources, Business Administration, Finance, or a related field. A Master’s degree or relevant certification (e.g., Certified Compensation Professional, CCP) is a plus.
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Experience:
- Minimum of 7 years of experience in compensation management, with at least 2 years of experience using Workday Compensation module.
- Strong understanding of compensation principles, salary structures, incentive plans, and regulatory compliance.
- Experience with compensation benchmarking tools and salary surveys.
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Technical Skills:
- Expertise in Workday, particularly in compensation management, reporting, and business processes.
- Advanced proficiency in Microsoft Excel for data analysis, reporting, and modeling.
- Experience with data visualization tools (e.g., Power BI, Tableau) is a plus.
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Key Competencies:
- Strong analytical and problem-solving skills.
- Excellent attention to detail and data accuracy.
- Ability to communicate complex compensation data and concepts to non-technical stakeholders.
- Strong project management and organizational skills.
- Ability to work independently as well as collaboratively in a team environment.
Preferred Skills/Experience:
- Experience with job evaluations and internal pay equity assessments.
- Knowledge of global compensation practices and multi-country compensation considerations.
- Familiarity with HRIS and compensation data integration.
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