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Principal Compensation Analyst

  • Seaport Blvd., Boston, Massachusetts, United States
  • Full Time

About the Job

The Principal Compensation Analyst is a specialist position within Total Rewards key to supporting the company in decisions on employee pay considerate of internal and external factors. This team member is responsible for a wide scope of activities associated with the development, implementation, and communication of compensation policies and programs. As a member of the broader People Team, the Principal Compensation Analyst frequently partners with People Strategy and business leaders to provide strategic direction and support, Talent Acquisition in the candidate offer process, with Benefits on total pay considerate of company perks, and with HR Operations for data to complete proper evaluation

Key Responsibilities

• Act as a compensation business partner to assigned functions within the organization. Own compensation activities and projects (market pricing, compensation consulting, compensation planning, bonus development, offer development, etc.) in collaboration with the People Strategy and Talent Acquisition teams.

• Provide the first tier of internal and market compensation data analysis.

• Manage and maintain FMI’s compensation data management tool (PayFactors), including owning and maintaining job descriptions and market data.

• Identify, evaluate and apply pay equity information to employee compensation decisions, particularly those relating to adherence to FMI’s Affirmative Action plan.

• Conduct research on specific job titles, responsibilities, businesses, industries, and markets for detailed benchmarking and evaluation as requested by HR or business.

• Respond to inquiries pertaining to all parts of compensation, including annual review, documentation, pay equity and LTI programs.

• Provide first tier approval or rejection response to employee compensation changes, documenting all factors involved in the decision-making process, escalating as needed.

• Partner with HR and Talent Acquisition during the offer negotiation stage in developing a total compensation plan addressing pay equity, market competition and cost-effectiveness, documenting all factors on pay decisions.

• Assemble information for and coordinate the participation in various compensation surveys to ensure market competitiveness, which may include but are not limited to Radford.

• Generate proposals designed to maximize compensation survey results.

• Complete job leveling processes as necessary.

• Conduct the annual salary review and salary administration process, in close partnership with broader Total Rewards and Compensation Manager.

• Participate in reviews of current practices and recommend enhancements that recognize, reward and retain our current employees, attract new talent, and address internal business priorities or external regulatory and legal changes.

• Execute upon compliance initiatives relating to compensation necessary for the company’s government contractor status or other areas.

• Assist the Sales Operations and Sales Management Team with monthly commissions and coordinate payments with Payroll.

• Generate sensitive communication on pay programs and pay changes, answering questions and action steps to follow up on these changes.

• Write comprehensive, up-to-date job descriptions in close partnership with HR Business Partners, Talent Acquisition, position managers and others in a manner that complies with the Office of Federal Contract Compliance Programs (OFCCP).

• Evaluate the EEO-1/AA codes, census codes, overtime or exemption status, and level of jobs to ensure consistency and adherence to state and federal regulations and laws.

• Participate in new job approval process through contributions to sections defined in process documents; leveling and providing the compensation range of the position.

• Partner with the Legal Team on compensation areas implicated by compliance or law.

• Maintain compensation record keeping and documentation.

Qualifications

Basic Qualifications

• Bachelor’s Degree

• 5+ years of experience in a Compensation analysis function

Preferred Qualifications

• Advanced proficiency with Microsoft Suite with advanced Microsoft Excel skills

• Demonstrated meticulous attention to detail and strong organizational skills

• Strong and effective interpersonal skills demonstrated in past human resources interactions with staff and employees of all levels and departments

• Familiarity with state and federal laws and OFCCP requirements as they relate to compensation and human resources

• Excellent skills of analysis and evaluation

• Experience developing and interpreting sales compensation plans

• Excellence presenting content in a clear, concise manner

• Experience with HRIS reporting, Oracle HCM experience

• Certification in conflict management and resolution techniques and history of utilizing these skills and methods within a business setting

• Demonstrated history of successfully managing multiple concurrent initiatives and maintaining one’s own workflow

• Demonstrated ability to meet project deadlines

• Ability to work well under pressure while maintaining a professional demeanor

• Understanding of confidentiality and privacy pertaining to employee and company data

• Commitment to reflect FMI's values: patients, passion, innovation, and collaboration

 

Please be aware that Foundation Medicine mandates COVID-19 vaccination of all employees regardless of work location. Accommodations may be made in accordance with applicable law.

 

About Foundation Medicine

Foundation Medicine, Inc. (FMI) began with an idea—to simplify the complex nature of cancer genomics, bringing cutting-edge science and technology to everyday cancer care. Our approach generates insights that help doctors match patients to more treatment options and helps accelerate the development of new therapies. Foundation Medicine is the culmination of talented people coming together to realize an important vision, and the work we do every day impacts real lives.

Confidence, or the belief that we need to check every box before applying for a job, can sometimes hold us back from going after a role that inspires us. At Foundation Medicine there's no such thing as the 'perfect' applicant, and our company is a place where every employee can make an impact and continue to grow whatever background they may have or path they may have taken. So, as long as you meet the basic qualifications for a role, please apply if you see a position that would make you excited to come into Foundation Medicine every day and help us transform cancer care.

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Foundation Medicine is proud to be an Equal Opportunity and Affirmative Action employer and considers all qualified applicants for employment without regard to race, color, religion, sex, gender, sexual orientation, gender identity, ancestry, age, or national origin. Further, qualified applicants will not be discriminated against on the basis of disability or protected veteran status. We also consider qualified applicants regardless of criminal histories, consistent with legal requirements. See also FMI’s EEO Statement and EEO is the Law and Supplement. If you have a disability or special need that requires accommodation, please let us know by completing this form.  (EOE/AAP Employer)

To all recruitment agencies: Foundation Medicine does not accept agency resumes. Please do not forward resumes to our jobs alias, Foundation Medicine employees or any other organization location. Foundation Medicine is not responsible for any fees related to unsolicited resumes.