Compensation Analyst

Company Overview for Formosa Plastics Corporation, U.S.A.

Founded in 1978, Formosa Plastics Corporation, U.S.A. (Formosa Plastics) is a growing, vertically-integrated supplier of plastic resins and petrochemicals. With annual revenues of more than $5 billion, we employ over 2,800 people who operate 20 production units in six business divisions - Olefins, Polyolefins, Vinyl, Specialty Polyvinyl Chloride, Chlor-Alkali, and Oil & Gas.

Formosa Plastics offers a full line of polyvinyl chloride, polyethylene and polypropylene resins, caustic soda and other petrochemicals that deliver the consistency, performance and quality that customers demand. We market our polypropylene and polyethylene resins under the Formolene® tradename; we market our suspension PVC and specialty (dispersion) PVC resins under the Formolon® tradename. We also produce and sell caustic soda, ethylene dichloride, commercial bleach and hydrochloric acid.

We are committed to supplying the highest quality products and services to our customers, providing a safe and healthy workplace for our employees and contributing to the quality of life in the communities where we operate. This commitment is made possible through our dedicated people, consistent products, continued protection of the environment and ongoing investments in new product development, quality control systems and safe, modern and energy-efficient production facilities.

Formosa Plastics is a privately held company headquartered in Livingston, New Jersey. Our core business, producing plastic resins and petrochemicals, takes place at three wholly-owned chemical manufacturing subsidiaries located in Delaware City, Delaware, Baton Rouge, Louisiana and Point Comfort, Texas.

Compensation Analyst

POSITION OBJECTIVE

Provide compensation analysis and consultation in support of the Company's enterprise-wide compensation and Total Rewards programs. Analyze compensation, market, job, and workforce information; interpret findings; identify material compensation and classification issues; evaluate alternatives; and develop recommendations for management consideration.

Conducting market pricing and compensation benchmarking, evaluating salary structures and market competitiveness, analyzing internal and pay equity, supporting salary planning and special compensation decisions, and reviewing positions for potential FLSA classification concerns.

Serve as a compensation resource to HR and management by providing analytical guidance, interpreting compensation information and established programs, recommending appropriate courses of action within established policies and objectives, and escalating significant policy, compliance, or business matters requiring higher-level review. Support compensation governance, Total Cash Compensation and incentive studies, workforce and labor-cost analysis, compensation policy development, and strategic Total Rewards initiatives.

MAJOR AREAS OF ACCOUNTABILITY

Compensation Analysis and Market Benchmarking

Conduct market pricing, compensation benchmarking, and competitive pay analyses to evaluate the Company's compensation practices relative to applicable labor markets.

Salary Structure and Compensation Administration

Support the administration and maintenance of salary structures, job-related compensation data, and compensation programs to promote consistent and market-competitive pay practices.

Salary Planning and Compensation Reviews

Support annual salary planning, promotion analyses, special compensation reviews, and related compensation recommendations through accurate and timely analysis.

Pay Equity and Internal Equity Analysis

Perform and support pay equity, internal equity, and other compensation analyses to identify compensation trends, inconsistencies, and areas requiring additional review.

FLSA Classification Review and Documentation

Support FLSA classification reviews by gathering and evaluating job duties, job descriptions, organizational information, and compensation data. Identify potential classification questions, maintain review documentation, and escalate concerns to HR management and other appropriate resources.

Compensation Surveys and Market Data

Coordinate participation in compensation and benefits surveys and support the collection, validation, submission, and analysis of survey and market data.

Workforce and Labor-Cost Analysis

Prepare compensation, workforce, and labor-cost analyses to provide reliable information supporting HR, management, and executive decision-making.

Compensation Governance and Total Rewards Support

Support compensation governance, incentive reviews, Total Cash Compensation studies, compensation policy development, Total Rewards initiatives, and other strategic HR projects.

EDUCATION


Bachelor's degree in Human Resources, Business Administration, Finance, Accounting, Economics, Data Analytics, or a related field preferred.

QUALIFICATIONS

Previous Experience Required -

• Minimum five (5) years of progressively responsible Human Resources experience, including significant experience in compensation, Total Rewards, or a closely related HR function.
• Experience should include compensation analysis, market pricing and benchmarking, salary administration, job analysis, and interpretation of compensation and workforce data.
• Experience evaluating complex compensation matters and developing recommendations for management is required.
• Experience with FLSA classification analysis, salary structures, pay equity/internal equity analysis, incentive compensation, and compensation surveys is strongly preferred.

Technical Skills Required -

• Advanced knowledge of compensation principles and practices , including market pricing, benchmarking, salary structures, salary administration, and Total Rewards.
• Demonstrated ability to independently analyze complex compensation and workforce data , interpret findings, evaluate alternatives, and develop recommendations for management.
• Knowledge of FLSA classification principles and experience evaluating job duties, job descriptions, organizational relationships, and other relevant information to identify potential exempt/nonexempt classification issues.
• Advanced Microsoft Excel and data analysis skills , including experience analyzing large data sets using formulas, lookup functions, pivot tables, and other analytical tools.
• Power BI, Dayforce and HRIS system experience.

Check Out Our Benefits


Health Coverage and Perks


Excellent medical, dental, and vision insurance plans


Flexible spending accounts for health, dependent care


Short-term Disability


Long-term Disability


Group Term Life, Dependent and
Supplemental Life Insurance


Tuition Reimbursement


Work/Life Balance


10 Paid Holidays


Paid Time Off for a balanced life
(Vacation, Sick and Personal Time)


FlexTime Available

Competitive Compensation


Competitive salary, incentive/bonus, 401(k) plan with company match,
Cash Balance, Pension Plan