Compensation Analyst

LG Electronics USA
United States, New Jersey, Englewood Cliffs
111 Sylvan Avenue (Show on map)
Nov 05, 2024
Step into the innovative world of LG Electronics. As a global leader in technology, LG Electronics is dedicated to creating innovative solutions for a better life. Our brand promise, 'Life's Good', embodies our commitment to ensuring a happier life for all. We have a rich history spanning over six decades and a global presence in over 290 locations. Our diverse portfolio includes Home Appliance & Air Solution, Home Entertainment, Vehicle Components Solutions, and Business Solutions. Our management philosophy, "Jeong-do Management," embodies our commitment to high ethical standards and transparent operations. Grounded in the principles of 'Customer-Value Creation' and 'People-Oriented Management', these values shape our corporate culture, fostering creativity, diversity, and integrity. At LG, we believe in the power of collective wisdom through an inclusive work environment. Join us and become a part of a company that is shaping the future of technology. At LG, we strive to make Life Good for Everyone. Job Summary As a Compensation Analyst, you will play a pivotal role administering compensation policies and programs for all business units across the U.S. You will be responsible for the development and ongoing maintenance of all tools to ensure fair and competitive compensation practices that correspond to established guidelines, policies, and practices. You will use multiple types of analysis to contribute to the development of salary ranges for our workforce. This includes collecting compensation market data to collect and analyze data to determine LG's competitive position. Additionally, you will determine grade level assignments using established criteria and prepare analysis needed for special studies including legal and leadership requests. As a key member of a high performing team, you will work with internal stakeholders to formulate recommendations for ad hoc salary and incentive reviews and administer incentive plans. The ideal candidate will need strong analytical skills to review existing and proposed statutory requirements that govern compensation administration. As a solutions-oriented analyst, you will recommend actions to resolve compensation related problems and recommend appropriate courses of action. Responsibilities: Prepare the competitive market analysis to determine changes to salary structures and make recommendations for compensation/incentive or commissions plans and general compensation strategies. Determine the best market sources to utilize and lead the programming of the compensation tool while developing test scripts. Administer compensation programs for all subsidiaries within the U.S. May identify problems and suggest process improvement solutions Work closely with the HR team and to perform employee pay analysis and internal equity reviews to aid in the determination of pay changes. Perform analysis that drives the creation of salary structures Explain compensation practices to key internal stakeholders, as needed. Job Requirements: Bachelor's degree required. Minimum of 3 years of experience with success in performing complex compensation analysis and recommendations. Requires broad knowledge of all HR practices. Ability to apply technical principles to perform job duties. Must understand performance management processes and talent acquisition processes in order to understand the downstream impact of compensation decisions. Strong communication and presentation skills to be utilized educate internal key stakeholders of decisions related to compensation practices and policies. Certified Compensation Professional (CCP) preferred. Privacy Notice to California Applicants At LG, we aspire to empower people and celebrate differences because we believe diversity will create the unexpected. We provide equal employment opportunity to all individuals regardless of their race, color, creed, religion, gender, age, sexual orientation, national origin, disability, veteran status, or any other characteristic protected by state, federal, or local law. Consistent with our commitment to providing equal opportunity and embracing diversity, LG has implemented affirmative action to ensure applicants are employed and employees are treated without regard to these characteristics. In addition to the above, LG believes that pay transparency is a key part of diversity, equity, and inclusion. Our salary ranges take into account many factors in making compensation decisions including but not limited to skillset, experience, licensure, certifications, internal equity, and other business needs. While we consider geographic pay differentials in final offers, because we operate in many geographies where applicable, the salary range listed may not reflect all geographic differentials applied.