Compensation Consultant

Description

JOB SUMMARY

This job designs, develops, provides analysis, process recommendations and solutions, consultation and education on various compensation programs and initiatives for the Company and assigned business units and / or job families, working at the business unit, job family, job and employee-level; evaluates, analyzes, and benchmarks current compensation programs and job families to determine competitive position; uses in-depth knowledge, strategic judgment and technical expertise to consult on job offers, changes, and pay or recognition needs, and to successfully develop, execute, and communicate innovative compensation programs and processes.

Highmark is committed to supporting your professional development. This role offers opportunities to expand your skills in compensation strategy and program design as part of a highly collaborative team. As a Compensation Consultant at Highmark, you'll play a vital role in shaping our compensation programs, directly impacting our ability to attract and retain top talent and supporting the overall success of the organization.

ESSENTIAL RESPONSIBILITIES

Effectively analyze, improve, consult and educate on, and execute various base pay, variable and supplemental compensation programs for the Company and / or assigned business units and / or job families

Work effectively with business leaders and HR business partners, as well as internal departments including HR Shared Services, HR Technology, Talent, Employee and Labor Relations, and on occasion Legal, IT, Finance and Payroll.

Plan, implement, and deliver educational tools and meetings with leaders.

Evaluate and benchmark assigned current base and variable compensation and recognition programs to ensure they’re competitive, and support development of new programs

Develop and present recommendations and solutions which are cost-effective and aligned with market trends and Company objectives.

Assist with program transitions on acquisitions and divestitures.

Assess governance and compliance risk in regions and local subsidiaries, and develop proactive compliance strategies. Partner effectively with Legal and Corporate Affairs, Finance, and HR Technology.

Collaborate with Talent Engagement Leads, Directors, and Partners (HR Business Partners) and Recruiters to provide consulting and strategic direction on new and changing jobs, compensation and recognition issues, offers, and changes.

Provide communications, training, and guidance on plans and compliance requirements for administration to Shared Services and the HR Business Partner groups.

With Talent Engagement Leads, interface with leaders with the organization by providing consultative advice and direction on design and communication issues.

Manage multiple projects of varying size and complexity.

Stay current on legislative updates affecting the areas of compensation and benefits, including ERISA, DOL, IRS and HHS agencies.

Ensure compliance with federal and state guidelines impacting executive compensation programs, and oversee preparation of reports and filings as required by government agencies.

Remain current on legislative and IRS changes relative to plan regulations, procedure changes and mandated disclosures.

Confer with vendors and consultants to analyze equity and viability of current compensation programs compared to trends and regulatory requirements. Continually assess the competitiveness of all programs and practices against industry standards and comparable companies.

Other duties as assigned or requested.

EXPERIENCE

Required

EXPERIENCE

5 years of experience in developing, implementing and administering Compensation programs

Preferred

None

EDUCATION

Required

None

Preferred

Bachelor’s or Master’s Degree in Business Administration, Human Resources, Finance or related field

LICENSES AND CERTIFICATIONS

Required

None

Preferred

CCP (Certified Compensation Professional)

PHR (Professional in Human Resources) or SPHR (Senior Professional in Human Resources)

KNOWLEDGE, SKILLS & ABILITIES

Superior ability to compile, synthesize, reconcile and analyze data from various sources, draw conclusions and make recommendations

Intermediate statistical knowledge

Ability to make decisions, influence others and to gain their support

Strong business and financial acumen

Strong written communication skills

Excellent interpersonal skills and ability to build rapport with HR business partners and company management at all levels, including senior-level executives

Solid organizational Skills

A team player; ability to adapt to different styles and develop cooperative relationships with employees at all levels in the organization

Ability to deal effectively with internal and external stakeholders

Language (Other than English) :

None

Travel Requirement : 0% - 25%

PHYSICAL, MENTAL DEMANDS and WORKING CONDITIONS

Position Type

Office-based

Teaches / trains others regularly

Occasionally

Travel regularly from the office to various work sites or from site-to-site

Rarely

Works primarily out-of-the office selling products / services (sales employees)

Never

Physical work site required

Yes

Lifting : up to 10 pounds

Constantly

Lifting : 10 to 25 pounds

Occasionally

Lifting : 25 to 50 pounds

Rarely

Highmark Health and its affiliates prohibit discrimination against qualified individuals based on their status as protected veterans or individuals with disabilities and prohibit discrimination against all individuals based on any category protected by applicable federal, state, or local law.

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