Compensation Consultant

$80,000 - $100,000/Yr

Alera Group - Deerfield, IL

Full-time - Mid Level

Deerfield, IL

Insurance Carriers and Related Activities

About the position

Compensation Works, a division of Alera Group, Inc. is growing! We currently have an opening for a Compensation Consultant. At Compensation Works, an Alera Group Company, we are at the forefront of redefining the compensation consulting landscape. Our mission is to empower organizations by ensuring their compensation structures are not only competitive but also equitable, fostering a culture of appreciation and mutual respect. With a team passionately dedicated to innovation and excellence, we pride ourselves on delivering bespoke compensation consulting services that align with our clients' unique needs and values. Our journey is characterized by a relentless pursuit of excellence, a deep understanding of the intricacies of compensation, and a commitment to providing solutions that drive organizational success.

Responsibilities

• Conducting comprehensive analysis of compensation programs, to evaluate market competitiveness, pay equity and compliance with regulatory requirements.
• Participation in the design and implementation of compensation programs, including base pay management, broad-based incentive plans, sales compensation plans, and executive compensation plans.
• Development of pay administration guidelines and modeling tools for a client's annual compensation planning activities.
• The design and administration of short-term incentive plans including sales incentives.
• Modeling the financial impact of compensation system recommendations.
• The development of job architectures, reviewing and building out job families, writing job descriptions, and creating competency models.
• Evaluating client programs and documentation for compliance with federal, state, and local regulatory environments.
• Participation in client meetings (virtual/online) to review findings and recommendations, answer questions, and ensure client satisfaction.
• Staying current with the latest trends and best practices in compensation, providing insights that can positively impact our clients and our team.
• Collaboration with other team members to ensure project timelines are met and deliverables are of the highest quality.
• The development of client-facing communication materials such as presentations, plan documents, and training content, tailored to a specified audience.

Requirements

• Bachelor's degree in business, economics, or human resources management.
• At least 4 years of progressively more complex experience as a compensation professional performing analysis and advising key stakeholders.

Nice-to-haves

• Professional certifications, such as CCP, GRP, PHR, or SHRM-CP.
• Experience with compensation and salary survey administration software such as PayFactors, Salary.com, or Market Pay.
• Multinational and/or Start-up company compensation exposure.
• Sales compensation administration.
• Executive compensation at public companies.

Benefits

• Medical insurance
• Dental insurance
• Life insurance
• Disability insurance
• 401k
• Generous paid time off