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Compensation Specialist

2 months ago

Chicago Illinois, United States SCA Health Full time
About the Role

As a Compensation Analyst at SCA Health, you will play a critical role in supporting the organization's compensation strategy and ensuring that our compensation programs are aligned with our business objectives.

Key Responsibilities
  • Provide broad-based, variable, and executive compensation support activities, including job evaluation, market pricing and benchmarking, salary surveys, incentive plan design, process mapping, policy interpretation, compensation database and system maintenance and administration, analytical and reporting support, and job description development.
  • Conduct compensation analysis, perform financial modeling, and create recommendations based on organizational needs, strategy, goal setting objectives, and desired outcomes.
  • Partner with various business stakeholders cross-functionally to support compensation activities on a broad departmental, group, or company-wide basis and/or complex project basis.
  • Work with highly sensitive and confidential information and maintain the confidentiality of the information used during the normal course of business.
  • Participate in approved salary surveys through the collection and reporting of data to third-party survey providers.
  • Review salary survey results and provide recommendations on additions/deletions of benchmark jobs in use.
  • Provide analytical support in complex aspects in the development of merit budgets, salary structure modifications, and incentive plan data gathering and reporting.
  • Provide expertise in accessing, changing, maintaining, and assuring the quality of compensation and HR databases.
  • Prepare complex economic and cost impact models of compensation initiatives for individually assigned activities or as part of larger Compensation department initiatives.
  • Provide counseling to management in the review of complex pay changes on an individual level (e.g., promotions, transfers, etc.) or enterprise-wide basis (e.g., merit planning cycles, etc.).
  • Keep current in all aspects of compensation through formal and informal training, participation in local and national professional organizations, continuous learning and reading, and general professional curiosity.
  • Manage complex ad-hoc Compensation projects, analyses, and requests, including but not limited to acquisitions, integrations, and divestitures.
  • Support Annual Compensation Planning activities (merit pay and bonus administration).
  • Participate in the development of incentive compensation plan designs (e.g., annual incentive plans, quarterly incentive plans, sales incentive compensation, etc.) and assure model validation and alignment with goals, forecasts costs, and develops the communication plans, tools to measure attainment against plan, and calculation of potential award amounts.
  • Counsel business leaders, HR leaders, HR Business Partners, Talent Acquisition teammates, and others across the organization on many aspects of SCA's compensation philosophy, teammate value proposition, market pricing, internal equity, job evaluation, broadband structures, and other aspects of compensation to ensure SCA effectively recruits and retains top-tier talent.
  • Develop, analyze, and make recommendations for compensation programs in support of specific business units within the Company to ensure they are competitive within the market, position, and industry.
  • May meet with senior-level executives to present programs, answer questions, and gain approval of compensation programs.
  • Assist with the enhancement of the compensation aspect in HR information systems (UKG, iCIMS, Service Now) to ensure service delivery on strategies and initiatives.
  • Ensure adherence to organization's compensation-related policies, procedures, and regulations.
  • Comply with local, state, and federal wage regulations.