Responsibilities:
The Sr. Compensation Advisor is a critical role that helps to mature InnovAge’s Compensation function and will be responsible for the strategic analysis, design, implementation, and administration of InnovAge’s compensation programs. They will aid in ensuring InnovAge’s competitive market compensation position across the rewards spectrum, including merit, bonus, equity, variable compensation, and promotions. Additionally, the compensation team is responsible for managing the annual bonus and merit planning process, preparing base salary recommendations and bonus budgets, pay and performance analytics. The successful candidate will operate with an egoless driven approach to building great relationships within the business to provide a world class Compensation program.
The Sr Compensation Advisor will be responsible for the design, implementation, administration, and compliance of various compensation programs across the organization. The role involves working with HR partners to provide support for compensation programs and collaborating with other teams to ensure that all compensation practices align with company goals and standards.
Core Compensation Programs Administration and Support
- Plan and execute compensation programs, including job architecture design, implementation, and annual year-end compensation planning.
- Administer common compensation review processes, prepare data, communicate and train HR partners, and consolidate data for approvals. Provide analytical support for annual salary increase and bonus allocation processes.
- Coordinate, administer, and assess broad-based compensation programs for internal clients and peer groups.
Market Data Intelligence & Governance
- Analyze organizational pay practices and make recommendations for salary changes to ensure internal equity.
- Respond to management requests for ad hoc job analyses and salary recommendations.
- Analyze market data with local HR Business Partners to build competitive compensation recommendations and evaluate job level and salary range recommendations.
- Complete annual salary survey submissions, participate in compensation surveys in all pertinent countries, and maintain market data database with up-to-date job matching, including loading new survey data, employee data, and job matches.
- Analyze results of salary surveys for client benchmark and non-benchmark jobs.
Compensation Consultative Support
- Proactively advise HR Business Partners to recommend and implement process improvement and changes.
- Apply knowledge of compensation policies and procedures to recommend and implement solutions.
- Support the development of communications announcing compensation programs, timelines, and changes.
- Participate in projects related to compensation program design, implementation, and administration.
Compensation Administration & Compliance
- Assist with compensation compliance requirements, including minimum wage analysis and works in support of broader pay equity activities, supervisor compression analysis, etc.
- Evaluate all new jobs/reclassifications or reorganizations to determine appropriate salary, grade, and job title governance.
- Determine FLSA job classification and formal grade range assignment for all jobs by performing job analysis and applying job evaluation methodology.
- Perform regular audits of the data to ensure changes are within guidelines and have all necessary approvals.
- Ensure pay parity and alignment to salary bands.
- Act as a trusted advisor to HR Business Partners and business leaders, lending creative solutions to address total compensation challenges.
- Standardize the pay-for-performance model and help lead the annual merit cycle in partnership with HR Business Partners.
Essential Job Functions/Duties
- Evaluate jobs, documenting responsibilities and requirements in job descriptions, including FLSA reviews.
- Prepare compensation recommendations for new hires, promotions, transfers, and other compensation actions.
- Conduct compensation modeling and analysis, including pay and performance analytics for broad-based and sales plans.
- Serve as an advocate of compensation philosophy and educate leaders on how to apply to their businesses.
- Participate in administration of annual performance management, incentive, or merit increase programs.
- Audit HR data regularly and partner with HRIS to ensure data integrity across all systems.
- Document and maintain plan documents, policies and procedures for compensation and benefits processes to create consistency and efficiencies across the organization.
- Identify and recommend opportunities for improvements to existing systems and processes, driving efficiencies.
- Engage in a variety of HR and Total Rewards related initiatives, including ad-hoc studies, projects, and analysis.
- Adhere to Local, State, and Federal regulations related to total rewards programs.
- Perform other duties as assigned.
Target Candidate Profile:
Minimum Qualifications:
- Bachelor's degree in Human Resources, Finance, Mathematics, Economics, Accounting, or Business degree preferred.
- Minimum of 7-10 years of relevant compensation experience in a large, complex organization.
- Thorough understanding of compensation practices, trends and compensation-related legislation.
- Strong quantitative and qualitative research skills.
- High level proficiency with Excel (e.g., v-lookups, pivot tables, if/then formulas) and proven ability to consolidate and manipulate large data sets with a commitment to accuracy.
- Ability to create detailed reports from various data sources.
- Strong analytical and problem-solving skills.
- Verbal, written, and interpersonal skills necessary to communicate effectively with all levels of the organization.
- Ability to act with integrity, professionalism, and confidentiality.
- Proficient with Microsoft Office Suite or related software.
- Ability to prioritize and complete multiple projects and tasks and effectively meet deadlines.
Preferred Qualifications:
- Prior experience in developing, implementing, and managing compensation programs.
- Analytical, innovative thinker with strategic acumen; understands larger organizational context to develop People & Culture initiatives that serve the needs of employees and business objectives.
- Proven ability to meet deadlines, grow performance capabilities, and handle shifting priorities - able to thrive in an ambiguous environment.
- Strong quantitative and analytical skills, and thorough knowledge of compensation plan designs and administration.
- Demonstrated strength in building relationships both internally and externally, with a diverse group of employees at all levels.
- Open to change, able to quickly pivot and recommend actions for continuous improvement with the ability to flex and be resilient when obstacles present themselves and priorities shift.
Additional Information
The expected base pay for this role will be between $115,000 to $130,000 per year at the commencement of employment. However, base pay will be determined on an individualized basis and will be impacted by location and years of experience. Further, base pay is only part of the total compensation package, which, depending on the position, may also include discretionary bonuses, other short and long-term incentive packages, and other InnovAge sponsored benefits.
InnovAge embraces the opportunity to build a workforce that reflects the diversity of our society and the world around us. Being an equal opportunity employer means that we take seriously our responsibility to consider qualified candidates on the basis of merit, without regard to race, color, religion, national origin, gender, sexual orientation, gender identity or expression, age, mental or physical disability, and genetic information, marital status, citizenship status, military status, protected veteran status or any other category protected by law.
Benefits:
InnovAge’s Program of All-inclusive Care for the Elderly (PACE) is an alternative to nursing facilities. Seniors receive customized healthcare and social support at a nearby PACE center supported by a team of medical experts dedicated to providing personalized healthcare and support to help them age at home. Our greatest assets are our team members who make a difference in the lives of those we serve every day. Elevate your future with co-workers passionate about a patient-centered care model supported by comprehensive services to improve the quality of care while reducing over-utilization of high-cost care settings.
As an equal opportunity/affirmative action employer InnovAge is committed to and values an inclusive and diverse workplace. All qualified applicants will receive consideration for employment without regards to race, color, religion, sex, sexual orientation, gender, gender identity/expression, national origin, disability or protected veteran status, pregnancy or any other status prohibited by applicable law.
Salary ranges are dependent on a variety of factors, including qualifications, experience, and geographic location. Range is not inclusive of potential bonus or benefits. Comprehensive benefits include m/d/v, short and long-term disability, life insurance and add, supplemental life insurance, flexible spending accounts, 401(k) savings, paid time off, and company paid holidays.
Posted Salary Range: USD $115,000.00 - USD $130,000.00 /Yr.