Our vision for the future is based on the idea that transforming financial lives starts by giving our people the freedom to transform their own. We have a flexible work environment, and fluid career paths. We not only encourage but celebrate internal mobility. We also recognize the importance of purpose, well-being, and work-life balance. Within Empower and our communities, we work hard to create a welcoming and inclusive environment, and our associates dedicate thousands of hours to volunteering for causes that matter most to them.
Chart your own path and grow your career while helping more customers achieve financial freedom. Empower Yourself.
The Sr Compensation Partner applies deep functional expertise in the design, implementation and administration of compensation rewards that are competitive, business aligned, agile, easily understood, legally compliant and delivered within the framework of a global Total Rewards and Human Resources strategy. Plays a key role with the design, implementation and administration of competitive compensation programs that attract, retain and motivate a diverse and high performing workforce and has strong understanding of legal compliance related to compensation programs, working to ensure there is minimal risk to the enterprise. Operating with a high degree of professionalism and diplomacy, collaborates with Talent Acquisition and HR Business Partner team members to conduct job evaluations, determine competitive pricing that is in line with market trends and provide sound compensation analysis. The Sr Compensation Partner is able to clearly articulate complex situations that may involve legal risk to HR partners to enable them to have consultative conversations with their client groups, or directly with management. Prepares compensation recommendations requiring a high level of understanding of compensation techniques, methods, and best practices. Utilizes analytical methods, leverages deep expertise of best practices and various tools to ensure enterprise level compensation programs are administered consistently and reflect Empower's compensation philosophy.
Essential Functions
- Responsible for the execution of compensation goals and the administration of the company-wide compensation function, which includes creating, implementing, and administering competitive fixed and variable pay programs that comply with applicable laws and regulations, as well as understanding and supporting business objectives.
- Serves as a trusted adviser providing experienced guidance and consultation to HR Business Partners, Talent Acquisition and management groups, to develop best practice compensation solutions and comprehensive pay decisions, along with understanding the audience and educating appropriately on factors that should be considered in such decisions.
- Operates with a high degree of professionalism and ability to have good consultative conversation, advising all levels of management on policies and practices, clearly articulating complex situations related to compensation.
- Able to understand audience and discern appropriate approach, creating and performing complex modeling and analysis, presenting and explaining results effectively.
- Analyzes the effectiveness of pay programs and makes recommendations to optimize, eliminate or develop new programs.
- Partners with other HR groups, leaders or managers to provide guidance, support and help drive execution on major project initiatives including, but not limited to: automation projects; HR systems related projects; the annual merit, bonus and equity cycle; annual salary survey participation; job architecture projects; data integrity projects; due diligence in support of the company's annual salary policy recommendations; and mid-year promotions and salary adjustment projects. Develops project plans, monitoring progress toward on-time completion, and preparing standard and ad hoc reports.
- Utilizes strong understanding of market surveys, market data and trends in data. Researches and analyzes market data, salary surveys and compensation trends to effectively partner with the HR Business Partners and business clients to make recommendations and influence business decisions.
- Conducts market analysis and makes recommendations to all levels of management. This includes job evaluations on new and existing positions, including content review, bench marking, market pricing, and alignment within internal salary structures, bonus and equity programs for the company. Ensures alignment with similar roles in other geographic locations.
- Strong understanding of Compensation related systems, functionality, data and related impacts to be able to provide input for possible solutions when there are impacts to areas of compensation in the system. Serves in system administrator capacity for applications/systems related to the administration of merit, bonus and stock (Workday); market pricing (Bettercomp) and any other compensation related systems.
- Develops project plans and executes on major project initiatives, including automation projects, the annual Merit & Bonus cycle, annual salary survey participation, due diligence in support of the company's annual salary policy recommendations, and promotion/salary adjustments. Monitors progress toward on-time completion.
- Utilizes strong presentation skills to design and deliver compensation related training/education for various levels of the organization to support business and departmental objectives, initiatives and projects.
- Serves as an internal subject matter expert on compensation matters for other HR roles.
- Performs analysis on ad hoc requests and projects.
- Performs other duties as assigned.
Other Preferred Qualifications
- Bachelor's Degree in related field or equivalent experience.
- 8+ years relevant experience in compensation, designing and administering compensation programs with a company headquartered in the United States. Global compensation experience is a plus.
- Strong experience with variable pay plans, budget and structure activities, and job evaluation (market pricing methodology) required.
- High level of professionalism and communication skills to present to executive levels of management as needed, coupled with the ability to easily and clearly convey data analysis into an understandable format.
- Ability to discern approach and critical situations based on audience and have consultative conversations.
- High level of judgment and integrity with the ability address sensitive topics and confidential information, clearly articulating information and making sound decisions under pressure.
- Strong team collaboration skills are a must.
- Other functional HR experience is a plus.
- Proficiency in MS Office, with advanced proficiency in Excel.
- Excellent customer service, interpersonal, and communication skills. Informal project management experience preferred.
- Systems knowledge: Strong proficiency in Microsoft Office products (Word, Excel, Outlook, PowerPoint, etc) with intermediate to advanced Excel skills required. Workday knowledge highly preferred and Workday Advanced Compensation desired.
- Ability to maintain discretion and work with sensitive/confidential subject matter required.
We are an equal opportunity employer with a commitment to diversity. All individuals, regardless of personal characteristics, are encouraged to apply. All qualified applicants will receive consideration for employment without regard to age, race, color, national origin, ancestry, sex, sexual orientation, gender, gender identity, gender expression, marital status, pregnancy, religion, physical or mental disability, military or veteran status, genetic information, or any other status protected by applicable state or local law.
