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Lead Compensation Strategist

2 months ago

Chicago, Illinois, United States Vaco Full time

Vaco is seeking a Lead Compensation Strategist to join our team. This position plays a crucial role in the design, execution, and communication of the organization’s compensation strategies, tools, and frameworks. The individual will assess job functions, pay scales, and incentive structures to ensure equitable internal practices, competitive external positioning, and adherence to legal standards in compensation management.


Key Responsibilities

  • Act as a Subject Matter Expert (SME) on significant compensation projects. Identify and recommend enhancements to compensation frameworks, policies, and procedures, and implement approved modifications.
  • Conduct comprehensive job evaluations using established methodologies. Perform internal and external equity assessments and present detailed recommendations based on findings and financial considerations.
  • Collaborate with HR Business Partners (HRBP) to provide guidance on departmental compensation inquiries, offering solutions that foster alignment across the organization.
  • Execute extensive market analysis, developing cost-effective compensation solutions and presenting findings to management.
  • Manage the completion and submission of salary surveys, maintaining a record of participation and assisting in budget planning for survey-related expenses.
  • Work closely with HRBP and leadership to refine job descriptions based on input from various stakeholders and insights into organizational culture.
  • Coordinate with HRIS to ensure accurate updates of compensation-related data in the HR system. Serve as a compensation expert during system implementations affecting compensation processes.
  • Support the annual performance review and merit increase cycle, facilitating data flow between departments and HR.
  • Oversee the annual revision of salary structures based on benchmark survey data analysis.
  • Assist in training and compliance audits to meet current HR standards.
  • Serve as a knowledgeable resource for colleagues, providing advice on compensation decisions and policy interpretation. Conduct training sessions for management personnel.
  • Review and propose updates to compensation policies and procedures, focusing on process automation for administrative tasks.

Vaco is committed to fostering a diverse workplace and encourages applications from individuals of all backgrounds, including women, people of color, LGBTQ+ individuals, people with disabilities, and veterans.

EEO Notice

Vaco is an Equal Opportunity Employer and prohibits discrimination against any employee or applicant based on various protected characteristics as mandated by law.

Vaco LLC is dedicated to the full inclusion of all qualified individuals and will provide reasonable accommodations for applicants with disabilities during the hiring process.

By applying for this position, you agree to provide accurate information about your qualifications and maintain confidentiality regarding the position's details.

Privacy Notice

Vaco respects your privacy and is committed to transparency regarding our policies.

Pay Transparency Notice

Compensation for this role is determined by various factors, including skills, experience, and geographic considerations. The salary range reflects the estimated base compensation for this position in compliance with local regulations.