Renishaw
Senior Reward Analyst
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Job Description
About the Role
The Senior Reward Analyst supports the end-to-end delivery of reward and compensation processes and provides evidence-based compensation advice across Renishaw globally. Combining data analysis, market research and process management, the role helps translate complex and sensitive reward information into simple and practical guidance for stakeholders. The role works with colleagues within HR as well as across different functions globally, including management. The role offers an opportunity to work across varied reward activities that combine analysis, process delivery and stakeholder communication, during a particularly exciting time for Renishaw.
Key Responsibilities
- Own and manage our compensation data cycles, focusing on compensation survey participation, analysing outputs, tracking market trends and translating insights into reliable benchmark pay ranges.
- Lead the delivery of pay reviews from cost estimates and pay position modelling, overall process planning and management through manager education and delivery in Workday.
- Lead the delivery of bonus reviews when applicable, including cost estimate modelling, process planning, stakeholder coordination, manager education and delivery in Workday.
- Lead the delivery of a bi-annual promotions and progression review, including cost estimate modelling, budgeting, project planning, manager education and delivery in Workday.
- Maintain the job architecture and support governance of role data and pay structures. Additionally, audit and maintain pay ranges in Workday.
- Complete job evaluation, role matching, grading and benchmarking activities.
- Perform pay positioning and internal equity analysis, providing input to fair and consistent reward decisions.
- Perform budget control and analysis, monitoring actual spend against approved budget and highlighting risks, gaps and required actions.
- Produce ad hoc reward reporting and analytics, present clear insights and inputs for evidence-based business decisions.
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Required Qualifications, Skills, and Experience
- Previous experience in reward, compensation analysis, budget tracking or HR analytics is essential. Experience of at least two reward process cycles in a support or lead role is desirable.
- Good knowledge and practical experience of reward and compensation practices, including pay transparency, pay equity as well as pay reviews, compensation benchmarking, job matching, evaluations (WTW methodology), bonus calculations.
- Advanced Excel skills and confidence analysing compensation data accurately is essential, capability in PowerBI is desirable.
- Advanced MS Office (especially PowerPoint) skills and the ability to present complex information effectively and clearly to different audiences.
- Ability to project manage, plan and execute processes with limited guidance, using own judgement and previous experience to inform the process design.
- Experience of using HRIS is essential, functional knowledge of the Workday compensation modules is desirable.
- Confidence handling sensitive employee reward and compensation topics with sound judgement and discretion is essential.
Benefits
When you join Renishaw, we're committing to your future career. That's because we believe in developing our people's skills and promoting them internally. We also offer a benefits package that's highly desirable; including a 9% non-contributory pension, discretionary annual bonus, *subsidised onsite restaurants and *coffee shops, free parking, *car sharing scheme and *24 hour fitness centres. ( not available at all sites).
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We also want to promote a healthy work-life balance as much as possible, so we have introduced a hybrid working policy which allows for a combination of home and office based working depending on the nature of your role. We also offer a variable working programme, 25 days holiday plus bank holidays, Life Assurance policy of 12 times annual salary, Cycle to Work scheme, enhanced maternity pay subject to qualifying criteria, Health Cash Plan, the option to join Renishaw Health Trust (Aviva) and an Employee Assistance Programme for employees and family.
Please click here for further information about our benefits.
At Renishaw we believe that our success is powered by welcoming a workforce of diverse and talented people. Through encouraging an inclusive culture, where all our employees are free to be themselves, we can achieve our core values: Innovation, Inspiration, Integrity, and Involvement.
If you are excited about the role but feel as though you don’t meet all the requirements, we would encourage you still to apply. You might just be the right person for this role or another opportunity at Renishaw.
We are committed to providing reasonable adjustments to make interviews and jobs more accessible. Should you have any difficulty during the recruitment process, or require any reasonable adjustments please contact the recruitment team on 01453 490384 or recruitment@renishaw.com.
Please click here for further information about diversity and inclusion at Renishaw.
Employment Details
- Type: Permanent
- Time Type: Full time
- Requisition Number: R9973 Senior Reward Analyst (Open)
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