JOB SUMMARY: Leads in the planning, development, implementation and administration of various compensation programs for the organization. Will provide strategic compensation consultation to HR and business partners with the expectation of subject matter expertise delivery, occasionally with the assistance of the AVP, Compensation. Role is typically focused on a particular population (i. e. executive, associate). May assist in the development of less experienced Compensation Consulting team members and may provide the AVP, Compensation with feedback on overall team performance.
Reports to: AVP, Compensation
Key Responsibilities: This job classification represents multiple compensation disciplines for executive, associate & sales compensation. The disciplines include expertise and delivery of consultation in the areas of job classification, salary management, performance management, regulatory compliance, compensation training, organization design and variable compensation. The duties and responsibilities include:
1. Consulting: Daily subject matter expert consultation for HR partners, business partners, and associates on all compensation issues. This includes maintaining a positive center of excellence relationship with all clients.
2. Salary Management Reporting and Consultation: Provide salary management audit, reporting and consultation to our HR and business partners throughout the year including but not limited to: pre CED, actual CED, post CED and pay analysis report/consultation processes. The combination of these reports allows improved Nationwide compensation performance in areas such as the salary expense budget, starting pay, competitive pay for performance competitive pay to the market, bonus and incentive compensation, geographic differentials, premium pay, and overall salary management in compliance with Nationwide policy, practices and guidelines.
3. Job Classification: Work closely with our HR and business partners to ensure the right job, the right job content and the right market prices is applied for every Nationwide role. Conduct single and group job evaluations as requested by the HR and business partner, making an assessment of the business case and implementing action necessary to successfully complete the job classification.
4. Survey Management ¿ Provide direction on the number/types of surveys used, replies to unique requests, participates in the annual survey process to determine the impact of survey results on the placement of jobs within the Nationwide structure, and attends/participates in survey vendor meetings/conferences.
5. Training : Provide training on compensation, salary management, variable compensation and pay for performance for all Nationwide contacts.
6. Annual Project Management: Each member will provide Consulting team coordination for at least one major Compensation initiative.
7. Process Improvement: Review, suggest and implement best practices, process improvement, quality assurance and compliance on all compensation operations, processes and systems,. Maintain high knowledge and skill level of Compensation best practices, compliance, trends, and resources.
8. Variable pay : Leads the implementation, administration and documentation of short-term incentive compensation plans within the guidelines of established policies and plan documents. May be involved in the implementation, administration and documentation of long-term incentive plans. Should be knowledgeable in the plan document and metrics for consulting purpose. Serves as a consultant in the design of incentive plans and resolution of incentive related issues.
9. Ad-Hoc Project Management: As requested, take the lead or contribute to ad-hoc Compensation projects.
10. Performs other duties as assigned.
Qualifications & Requirements Education: Undergraduate studies in areas such as business administration, human resource management, psychology, or related areas. CCP certification preferred. Other Compensation designations a plus.
Knowledge: Demonstrated knowledge in general compensation theory and practices, including job analysis, design, evaluation, and salary administration. Knowledge in executive compensation including long-term and short-term incentive plans, bonuses and non-cash executive compensation programs. A thorough understanding of market measures including impact, assessment, measurement and application. Proven knowledge in human resources disciplines, e.g., recruitment and selection, training and development, performance management, change management, organization design and legal compliance. An understanding in statistical concepts and analysis used in making compensation decisions and competitor analysis. Know in insurance operations, including revenue, expense, reserving and organizational characteristics a plus.
Experience: Typically six or more years of related experience in a compensation-related field, including six years of experience in a general business environment. Two years of project management experience preferred.
Skills: Able to conceptualize a business problem, define relevant issues, determine a methodology for exploring the problem, define alternatives and develop recommendations. Demonstrates project management and process improvement skills. Well-developed verbal and written communication skills for use with all levels of personnel including top management, external management and associations. Strong decision-making skills as well as possess analytical skills. The ability to operate personal computer and effectively use business software to analyze compensation data and market trends.
Values: Regularly and consistently demonstrates the Nationwide Values and Guiding Behaviors
Staffing exceptions to the above minimum job requirements must be approved by the: SVP Associate Services and the HR AVP.
Overtime Eligibility FLSA): Not Eligible (Exempt).
Working Conditions: Normal office environment. Occasional travel. Non-standard or extended work may be required based on project needs.
ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some associates assigned to the job to perform a somewhat different combination of duties.