Compensation Analyst

Merastar Insurance Company - Chicago, IL

Full-time - Mid Level

Chicago, IL

5,001-10,000 employees

Insurance Carriers and Related Activities

About the position

Kemper is one of the nation's leading specialized insurers, and our success is a direct reflection of the talented and diverse people who make a positive difference in the lives of our customers every day. We believe a high-performing culture, valuable opportunities for personal development and professional challenge, and a healthy work-life balance can be highly motivating and productive. By joining our team, you are helping to provide an experience to our stakeholders that delivers on our promises. In this position, you will partner with the Compensation Consulting group and other Rewards team members to manage key broad-based and other Total Rewards initiatives. You will work with the team to develop and support an ongoing competitive companywide compensation program. Your responsibilities will include participating in compensation planning, pay structure, and policies including base pay, incentives, and recognition programs. You will conduct analysis of jobs to evaluate and recommend adjustments required to maintain internal equity, external competitiveness, and legal compliance of the organization's pay practices while maintaining optimal data integrity. You will also participate in annual and quarterly compensation planning, which may include audits, testing, and training various partners on the tool. Various administrative tasks during the review timeline will be part of your role. You will partner with vendors to ensure the renewal of all relevant salary survey sources and provide recommendations on enhancements to the salary survey library, reporting, and improved efficiencies. Additionally, you will research, analyze, and prepare assigned salary planning recommendations, ensuring accurate matching of positions in collaboration with Compensation Consultants. Maintaining the organization-wide HRIS tables relevant to compensation and managing the organization's database of position descriptions will also be key responsibilities. You will assist in other ad hoc analysis in partnership with Compensation Consultants, HR Business Partners, and Talent Acquisition as required or requested.

Responsibilities

• Conducts analysis of jobs to evaluate and recommend adjustments for internal equity, external competitiveness, and legal compliance.
• Participates in annual and quarterly compensation planning, including audits, testing, and training partners on the tool.
• Partners with vendors to ensure renewal of all relevant salary survey sources.
• Provides recommendations on enhancements to salary survey library, reporting, and improved efficiencies.
• Researches, analyzes, and prepares assigned salary planning recommendations.
• Prepares data submission packages to participate in salary surveys.
• Ensures accurate matching of positions in collaboration with Compensation Consultants.
• Maintains organization-wide HRIS tables relevant to compensation, ensuring coding is complete and accurate.
• Maintains the organization's database of position descriptions and manages version control.
• Develops and revises job descriptions in partnership with HR Business Partners and Compensation Consultants, ensuring compliance with regulations.
• Reviews ongoing changes to regulatory and compliance changes and makes recommendations.
• Maintains final compensation-related documents in respective organizational sites.
• Administers enterprise-wide Employee Stock Purchase Plan, including communications, enrollments, and updates.

Requirements

• At least 3-5 years of relevant experience in broad base, executive, and HR specific related Compensation experience.
• Bachelor's degree in business administration, Finance, Human Resources, or related degree is required.
• Working knowledge of Workday or other large ERP system.
• Working knowledge of salary structure development principles and compensation market pricing analysis.
• Effective communication skills, including verbal and written communications, and ability to interact with all levels of the organization.
• Proficient analytical, problem-solving, and detail-oriented skills.
• Strong Excel background (e.g., VLOOKUP's, pivot tables, etc.).
• Ability to handle confidential company and sensitive employee information with integrity.

Benefits

• Qualify for your choice of health and dental plans within your first month.
• Robust 401(k) match, Health Spending Accounts, and various retirement plans.
• Tuition Assistance Program, paid certifications, and continuing education programs.
• Opportunities to contribute to the community through United Way and volunteer programs.
• Generous paid time off and business casual dress.
• Employee discounts for shopping, dining, and travel through Kemper Perks.