Industry: Accounting, Finance & Insurance•
8 - 10 years
Posted 207 days ago
This role serves as an HR strategic business partner to all levels of leadership and associates, and collaborates with the HR team on compensation, benefits, and total rewards program. This position is responsible for the administration and execution of Health New England’s compensation program to include variable compensation and sales commission plan design. The incumbent will be a key contributor to the employees’ benefits program. The Compensation & Benefits Specialist will develop and maintain plan documentation for annual compensation plans, support annual merit and incentive program cycles as well as support the Vice President of HR with executive compensation including executive contracts.
The incumbent will provide timely, accurate regulatory reporting and remain current with all state and federal regulatory changes. The Compensation & Benefits Specialist must maintain the highest possible standard of integrity, equity, and confidentiality of financial information, insurance and litigation documents, employee information and other sensitive and confidential information. Recommendations and decisions made by the incumbent affect employees and/or departments and have legal implications to HNE.
Compensation & Total Rewards Administration 50%
• Manage and administer all areas of compensation including variable compensation and sales commission structure design
• Assist leadership with salary administration for hire, promotions and transfers
• Perform salary analysis to maintain pay equity
• Manage and administer the job evaluation process to include job descriptions and classification as determined by the Fair Labor Standards Act (FLSA)
• Work with leaders to update job descriptions, roles and responsibilities.
• Assist with standardizing and manage job titling scheme
• Ensure compliance with federal and state regulations and reporting requirements
• Administer the annual merit process to include working with external consultants
• Work in conjunction with Director of HR and OD to provide organizational design support
o Apply expertise in organizational structures, assessing overall workforce needs, job design and career pathing
• Maintain Total Rewards Program, ensuring accuracy and timeliness
• Project management of Total Rewards initiatives programs to attract and retain employees
• Conduct benchmark analysis on reward and recognition programs to make the recommendations for changes that support retention strategies
• Conduct and leverage market survey data to influence decision making process to align with current and future business needs
• Manage relationships with external consultants to ensure continued access to relevant market data and trends
• Insure all pertinent compensation data is stored and maintained in an HRIS database according to established company standards;
• Maintain compensation and market survey database.
• Collaborate with Sr. Human Resources Generalist and Human Resources Manager to monitor the benefit landscape and provide recommendations for plan changes, eliminations, and additions
• Perform trend analysis on benefit utilization, forecast future changes and provide recommendations based on analysis
• Support Sr. Human Resources Generalist and Human Resources Manager on all employee benefit plan modeling including, but not limited to: medical, dental, vision, life, AD&D, LTD, STD, FSA’s, HSA’s, FMLA, etc.
• Consult with key stakeholders to examine plan design or benefit cost changes
• Participate in benefit plan contract negotiation meetings with vendors including the benefits administration outsourced solution partner
• Develop benefit communications to educate associates on plans and cost management. Solicit feedback on satisfaction with benefit options
• Maintain compliance with state and federal benefit laws and regulations. Assist and support timely filings of all benefit plans and testing.
• Inform employees and senior leadership on regulatory and company changes relative to benefits.
• Stay current on all state and federal regulations that effect HR policies and apply required changes to the handbook, policies, and Compliance 360
• Prepare and distribute communications to the workforce and ensure all bulletin boards are current
• Support the full scope of annual open enrollment process from mapping plan design in HRIS system to communicating changes to Workforce through benefit fairs and educational sessions
• Support the development of materials as necessary
• Support and promote Health New England’s HR voluntary programs (e.g., ComPsych, Flu Clinic, etc.) Research, analyze and recommend modifications to existing benefits plans to improve services to employees in a cost effective manner
Research, Analysis and Recommendations: 15%
• Provide support to the HR department by preparing and analyzing data
• Develop reports to track compensation information such as merit and bonus plans
• Conduct research, learn best practices and provide recommendations on compensation plans and incentive programs
• Conduct research and market analysis in an effort to ensure both external competitiveness and internal equity
• Manage periodic market review of associate salary data with external consultants. Identify any position(s) requiring market job match review
HR Projects and Team Support: 10%
• Provide support on HR projects and serve as backup as assigned
Minimum Requirements Bachelor’s Degree in Human Resources, Business, Finance or a related field and a minimum of 8 years of progressively responsible human resources experience with a concentration in compensation and job evaluation or an equivalent combination of education and experience. CCP or related designation preferred.
• Experience with point factor methodology
• Experience with Korn Ferry-Hay Group Guide Charts preferred
• Expert in writing job descriptions
• Strong knowledge of federal and state (preferably Massachusetts) employment law to include FLSA, OFCCP, and related
• Excellent organizational, project and time management skills
• Intermediate to advance skill level with Excel and intermediate skill level with Word and Power Point
• Highly detailed oriented with proven accuracy
• Highly skilled in managing multiple projects
• Solid analytical skills with proven independent judgment
• Strong critical thinking and problem solving skills
• Strong presentation skills
• Strong oral and written communications skills
• Serve as a change agent; change agile
• Excellent interpersonal skills and the willingness to work as part of a team
• Ability to effectively work with all levels of the organization and effectively influence across organizational levels
• Ability to present an unpopular decision
• Ability to work independently with minimal supervision
• Able to make decisions with limited information
• Ability to work under tight deadlines, shift priorities frequently and easily to meet business needs while maintaining composure
• Able to work with sensitive information and maintain the strictest confidence.