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Senior Compensation Specialist

2 months ago

Skokie, United States Advanced Resources Full time

Advanced Resources is seeking top talent to support a compensation project in the Chicago market. The right candidate will have market review and benchmarking experience, strong excel skills and thrive in an ever-changing environment.


Job Summary:

The Senior Compensation Analyst is responsible for managing and analyzing employee compensation programs. This role involves evaluating compensation structures, conducting market analyses, and ensuring the organization's compensation offerings are competitive and equitable. The Senior Compensation Analyst works closely with HR partners and business leaders to design and implement compensation strategies that support the company's goals and objectives.


What You Will Do:

Compensation Analysis and Design:

  • Conduct comprehensive market pricing and analysis to ensure competitive pay structures.
  • Develop and maintain salary structures, pay grades, and job evaluations.
  • Design and implement incentive and bonus programs aligned with business objectives.

System-Wide Project Management:

  • Manage larger-scale system-wide projects related to Compensation strategic initiatives (e.g., Position Management).

Reward Programs Administration:

  • Support the administration of reward programs such as annual Merit Increases, Short-Term Incentive (STI) plan payouts, Spot Awards, Long-Term Incentive (LTI) plan payouts, etc., as required.

Consultation and Collaboration:

  • Consult with HR Business Partners on the appropriate classification of positions, job analysis, salary structures, and the determination of compensation levels and salary ranges.
  • Analyze new and/or ongoing compensation-related initiatives.

Day-to-Day Administration:

  • Support the day-to-day administration and management of compensation data, processes, and analysis.

Compensation Analyses:

  • Conduct compensation analyses, converting data into useful insights and reports.
  • Formulate and implement recommendations to address root cause issues.

Job Analysis and Evaluation:

  • Manage and maintain the job analysis and evaluation processes.

Survey Portfolio Management:

  • Assist with survey portfolio management, including survey submissions, benchmark job matching, and vendor management as applicable.

Continuous Improvement:

  • Assist in continuous improvement activities of compensation services and processes.
  • Research, review, and analyze the effectiveness and efficiency of existing processes and develop strategies for enhancing or further leveraging these processes.


Qualifications:

  • Bachelor’s degree in Human Resources, Business Administration, Finance, or a related field.
  • Minimum of 5-7 years of experience in compensation analysis or a related HR field.
  • Strong analytical and quantitative skills with the ability to interpret complex data sets.
  • Proficiency in Microsoft Excel and HRIS systems (e.g., Workday, SAP, Oracle).
  • Knowledge of compensation laws and regulations.
  • Excellent communication and presentation skills.
  • Ability to manage multiple projects and prioritize tasks effectively.
  • Certified Compensation Professional (CCP) designation is preferred.