Compensation Consultant

Hanover Insurance Group - Worcester, MA

Full-time - Mid Level

Worcester, MA

Insurance Carriers and Related Activities

About the position

The Compensation Consultant at The Hanover plays a vital role in collaborating with the HR team and business partners to design and implement competitive compensation plans. This position involves conducting job evaluations, market analysis, and supporting compensation-related initiatives to ensure fair pay practices and compliance with labor legislation.

Responsibilities

• Conduct job evaluations utilizing external market data and internal factors to make appropriate salary grade assignments and competitive pay decisions.
• Complete market analysis to ensure competitive pay positioning.
• Participate in salary surveys and synthesize results identifying key observations and market insights to be presented to management.
• Support administration and communication of compensation programs including the annual and off-cycle compensation processes and open enrollment.
• Analyze and interpret data showcasing areas of opportunity.
• Work with business partners in HR to support day-to-day compensation questions.
• Conduct and compile information on competitive compensation programs and practices.
• Maintain updates in Hanover's compensation management systems and train internal users on the tool.
• Gather information required for pay equity analysis efforts.
• Maintain documentation on job evaluations and market analysis work.
• Seek input from key stakeholders on compensation programs and practices.
• Lead small-to-medium sized compensation projects, including research and analysis.
• Partner with the HR Technology team to design and deliver compensation tools and technologies.
• Provide innovative solutions aimed at creating greater efficiencies and improved outcomes.
• Develop and analyze key measures of compensation program effectiveness.
• Analyze impact of regulatory or compliance changes to existing programs.

Requirements

• Bachelor's Degree preferred.
• 5+ years of compensation related experience.
• Background in total reward and/or human resources business partner role a plus.
• Strong knowledge of HR practices and labor legislation.
• Strong analytical skills, attention to detail, and demonstrated ability to maintain a high degree of accuracy.
• Ability to capture, assess and articulate data findings.
• Ability to recommend, document and implement process improvements.
• Ability to collaborate with others, manage moderately complex projects and deliver high quality analysis.
• Ability to manage multiple projects at once.
• Experience with compensation survey management tools a plus.
• Proficient with Microsoft Office Suite with advanced knowledge of Excel.

Nice-to-haves

• Experience with compensation survey management tools.

Benefits

• Medical, dental, vision, life, and disability insurance
• 401K with a company match
• Tuition reimbursement
• PTO
• Company paid holidays
• Flexible work arrangements
• Cultural Awareness Day in support of IDE
• On-site medical/wellness center (Worcester only)