Sr. Compensation Analyst Job

What Timken makes possible begins with you.Those who came before us helped land a man on the moon, create the world's infrastructure, and introduce renewable energy alternatives. Now you can join the Timken team to write your own unique story and help drive what's next.A career at Timken means you can have an immediate impact doing Work That Matters to the world— improving the efficiency of today's industrial equipment and preparing for the future of motion on our planet and beyond. New employees can start contributing right away, and there are many opportunities to advance your career at your own pace. Join our global team of 20,000 people in 46 countries, and start helping our customers push the limits of what's possible in their world of motion.Purpose and ScopeThe Senior Compensation Analyst plays a critical role in ensuring fair and competitive compensation practices within the organization. This role involves conducting comprehensive analyses of compensation data, evaluating job positions, and making recommendations to support effective compensation strategies. The Senior Compensation Analyst collaborates closely with HR teams, management, finance and other stakeholders to maintain equity and alignment with the organization's goalsResponsibilities• Collect, analyze, and interpret compensation data to ensure internal equity and market competitiveness with compensation structures and salary ranges• Maintain accurate and up-to-date compensation data in Human Resource Information System (HRIS) by performing regular data audits• Evaluate job positions across the organization to determine appropriate salary grade and levels• Lead the compensation survey management process including our third-party survey management tool• Stay updated on industry trends by reviewing compensation survey results and assessing the competitiveness of the organization’s compensation programs• Manage the annual salary review (Merit) and variable pay process through the HRIS, including recommending guidelines on salary adjustments based on performance and market data• Lead the governance of variable pay programs globally (sales and non-sales), partner with finance to accrue for and report projected/final variable pay payouts for employees.• Assists in the benchmarking of U.S. hourly positions and the competitiveness of wages.• Collaborate with HR teams to effectively communicate compensation policies, practices, and changes to employees.• Identify opportunities for process improvements in the organizations compensation practices and HR data management• May assist with other duties as assignedSkills• Strong quantitative and decision support capability (identification of alternatives, evaluation and recommendations); Compensation background preferred• Experience with information systems; SAP SuccessFactors preferred• Ability to work independently in high paced environment and manage multiple projects at the same time• Knowledge of labor laws, regulations, and industry trends related to compensation• Strong communication skills and ability to collaborate effectively within a team environment while maintaining confidentiality.• Education/Experience• Minimum: Bachelor of Finance, Accounting, HR, Mathematics or Business with 4+ years Compensation experience.• Preferred: Master of Finance, Accounting, HR, Mathematics or Business with 1+ years relevant experience. Global company preferred.All qualified applicants shall be treated equally according to their individual qualifications, abilities, experiences and other employment standards. There will be no discrimination due to gender or gender identity, race, religion, color, national origin, ancestry, age, disability, sexual orientation, veteran/military status or any other basis protected by applicable law. #AP-01