This position reports to the Director, Global Total Rewards. Conducts job evaluations; performs market pricing and analysis; conducts statistical analysis of compensation data. Performs professional level administrative, technical and analytical work related to Woodward’s compensation programs. Works with minimal supervision.
Support leader during the annual merit increase process and with day-to-day issues for internal clients. This may include position matching, data analysis, incumbent analysis, modeling for affordability, and merit matrix modeling.
Create jobs and salary structures in HCMS and related job codes and job families; analyze and audit positions to determine FLSA exempt or non-exempt status.
Evaluate proposed and existing jobs and classify them in accordance with Woodward's compensation structure.
Perform analysis on collected wage data, and prepare wage and salary data to facilitate Woodward's compensation and management functions.
Conduct compensation related analysis including adverse impact analysis, equity analysis, and cost modeling as needed.
Participate in external salary surveys; interpret salary data and perform analysis as needed.
Serve as the process owner for Role Management. Assist team of HR professionals and leaders in the standardization of jobs to ensure consistent application of the process.
Develop and/or finalize appropriate role descriptions and maintain database for access to compensation information and job content.
Serve as the process owner for the Pay Guide. Solicit periodic reviews to ensure the content is accurate and up-to-date. Serve as the point person for pay practice policy development and/or changes.
Conduct audits of wage and salary adjustments for conformance to policy.
Proactively research compensation trends and methods to support the compensation strategy and identify best practices for consideration.
Become power user of Market Pay and other systems.
Create and maintain standard work process documentation.
Prepare supporting data for the annual profit planning cadence in compensation and/or benefits group.
Perform market pay compensation process training to the HR team and leaders as needed.
May observe jobs and interview members and leaders to determine job requirements.
Calculate annual retirement plan contributions (stock, transition, true-up).
Provide support in the preparation of the annual proxy report (CD&A and other tables).
Stock option administration support.
Support leader with annual cadence of all executive compensation and benefit plans/programs.
Responsible for data supporting CEO Pay Ratio disclosures.
Participate in Job Code Standardization projects.
May lead or support compensation related projects initiated by leader.
Provide quarterly accruals of WVIP to Finance; calculate WVIP payouts annually.
Ability to take data outcomes and provide concise reports regarding findings.
Demonstrate understanding and application of both compensation theory and practice .
Negotiation and problem solving skills.
Strong ability to plan, organize and manage time well given shifting priorities and multiple work streams.
Strong knowledge of market-based compensation systems, particularly base pay.
Strong analytical skills and the ability to perform detailed analysis of data.
Strong knowledge of federal and state regulations and laws.
Strong client focus.
Ability to handle information of a sensitive nature maintaining the highest level of confidentiality, ethics, and integrity
Effectively communicate verbally and in writing to various stakeholder groups.
Advanced level Excel skills.
Education or Formal Training
Bachelor’s Degree in Accounting, Human Resources or equivalent directly-related field required.
Professional compensation management/total rewards certification highly desirable.
Three to five (3-5) years of professional work experience in compensation department.
Experience with presenting data and explaining technical compensation data.
Employer will assist with relocation costs.
Internal Number: 1701650
About Woodward, Inc.
Woodward is an independent designer, manufacturer, and service provider of control solutions for the aerospace and industrial markets. Our aerospace systems and components optimize the performance of fixed wing and rotorcraft platforms in commercial, business and military aircraft, ground vehicles and other equipment.
Our industrial related systems and components enhance the performance of industrial gas and steam turbines, reciprocating engines, compressors, wind turbines, electrical grids and other energy related industrial equipment. The company’s innovative fluid energy, combustion control, electrical energy, and motion control systems help customers offer cleaner, more reliable and more efficient equipment. Our customers include leading original equipment manufacturers and end users of their products.