Senior Compensation Consultant Job Description
Senior compensation consultant
provides guidance and assistance in regard to compensation trends and analytics, job evaluation, salary administration, compensation systems, programs, policies and procedures.
Senior Compensation Consultant Duties & Responsibilities
To write an effective senior compensation consultant job description, begin by listing detailed duties, responsibilities and expectations. We have included senior compensation consultant job description templates that you can modify and use.
Sample responsibilities for this position include:
Develops and works with Business Partners and the HR Advisory team to drive compensation solutions that support major business change initiatives (mergers, divestitures, re-alignment of roles)
Administer the annual bonus program, which includes maintaining the eligibility list, budgeting/accrual, calculating the payout and developing employee communications
Develops and works with Business Partners and the HR Advisor team to drive end-to-end compensation and integrated HR solutions that support major business change initiatives (mergers, divestitures, re-alignment of roles)
Manage business partner relationship, conduct root cause analysis, negotiate and find win / win solutions particularly when business executive / senior management preferred solution is a compensation “fix” to a non-compensation related HR issue
Assist in new business/firm development activities (e.g., speeches, white papers)
Participates in complex client scoping conversations with senior consultants
Works with colleagues to gather information and fact-finding for client projects
Participates and leads design and implantation of solutions for small to medium sized consulting assignments
Demonstrates strong client consulting skills
Manage the compensation relationship for a particular client group with crew presence in multiple regions
Senior Compensation Consultant Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Senior Compensation Consultant
List any licenses or certifications required by the position: CCP, SHRM, PHR, HRCI, CECP, WC, CPDM, CDMS, CRC, WAW
Education for Senior Compensation Consultant
Typically a job would require a certain level of education.
Employers hiring for the senior compensation consultant job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Master's Degree in Human Resources, Business, Finance, MBA, Education, Business/Administration, Economics, Accounting, Graduate, Mathematics
Skills for Senior Compensation Consultant
Desired skills for senior compensation consultant include:
Core compensation terminology and best practices
Compensation systems
Principals of wage/salary administration
Wage & hour laws
Exempt classifications
Job evaluation methodology
Especially hardware/software applications
Information systems
Principles
Their application to human resources systems
Desired experience for senior compensation consultant includes:
Work across teams to serve as the “technical expert” on total rewards strategy and optimization, skills in change management, stakeholder analysis and engagement, communication/branding, project management, culture transformation
Lead in the development of delivery tools and resources, thought leadership, and client offerings through your personal experience and perspective
Strong statistical, SPSS, sensitivity analysis skills preferred
Must have broad exposure across industries with progressive responsibilities on projects and client engagements
Must exhibit a "developing" proficiency level with regards to consulting on HR Effectiveness, Engagement, Talent Management, Benefits and Compensation
Experience with large-scale, global assignments is preferred
Senior Compensation Consultant Examples
1
Senior Compensation Consultant Job Description
Job Description Example
Our company is hiring for a senior compensation consultant. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for senior compensation consultant
- Work with Compensation Manager/Consultants on a variety of projects including program design, analysis and modeling, budgeting, implementation of new programs, and stock reload
- Own monthly processes related to stock reload, compensation adjustments, job evaluation, and recruiting team support
- Provide guidance to the business and develop creative solutions on a variety of total compensation issues including the setting of appropriate pay levels, base pay, and stock compensation
- Partner with the business to develop variable incentive compensation programs, as needed
- Conduct custom surveys with key industry contacts, as needed
- Work with HRIS to ensure that the PeopleSoft system meets compensation needs and is updated to reflect programmatic changes
- Develops compensation strategies and frameworks that support business goals and objectives, and advance compensation solutions (e.g., salary, incentive, direct drive, and commissioned programs)
- Works with the Senior Director, Business and HR Partners to drive compensation solutions
- Assists in the design and integration of compensation communication, ensuring all partners and employees receive timely and easy to understand information
- Manages and develops strong relationships with Business and HR Partners while developing compensation strategies and frameworks that support business goals and objectives
Qualifications for senior compensation consultant
- Knowledgeable about HR operations and how HR integrates with other areas of an organization
- Billable time of 60-70%
- Generates and delivers revenue of approximately $300K annually
- Attentive to details and deadlines
- Advanced level of skill with Microsoft Excel required
- Proficient with Microsoft Word and PowerPoint required
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Senior Compensation Consultant Job Description
Job Description Example
Our innovative and growing company is looking to fill the role of senior compensation consultant. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for senior compensation consultant
- Participate in broader ARA projects including performance management, employee benefits, retirement, healthcare, performance optimization, cash/non-cash reward and recognition
- Participate in marketing initiatives including support on developing compensation work and methodology approaches, writing and supporting proposals and conducting survey
- Contribute to intellectual eminence and the development of firm viewpoints on a variety of total rewards topics
- Acting as a Project Manager, ensuring deadlines are met on time and in scope
- Keep abreast of HR policies and regulations relating to compensation issues
- Partner with business unit leaders, HR Managers, HR Business Partners / Consultants and managers to address internal salary administration, market data, salary policy, job structure and compensation guidelines
- Evaluates new positions for placement in the EHRA structure based upon detailed analysis of organizational structure, duties and responsibilities, comparisons to existing positions, and other relative factors
- Conducts complex compensation research using a variety of methods and data sources including labor market studies or surveys, , turnover rate analysis, internal equity reports, evaluation of salary compression relationships and span of control studies
- Responsible for annual analysis and salary reporting of all employees’ salaries to the Chancellor under the Management of Flexibility Agreement with the Office of the President
- Conduct a range of analyses involving the impact/effectiveness of current cash and long-term incentive plans, the development and implementation of new programs
Qualifications for senior compensation consultant
- Expert knowledge and application of Excel substantive functional and technical expertise in ERP HR systems and/or applications (specifically PeopleAdmin, PeopleSoft, or closely comparable systems)
- Experience in compensation program design and governance
- Experience with variable pay plan design
- Strong analytic skills and technical savvy (MS Excel, Word, PowerPoint)
- Regularly contributes to the development of new compensation concepts, techniques, standards or department methods
- Considered compensation expert within KP
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Senior Compensation Consultant Job Description
Job Description Example
Our growing company is looking for a senior compensation consultant. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for senior compensation consultant
- Captures, vets, and implements system improvements in alignment with pay program, organizational objectives, and deadlines
- Provides guidance to junior analysts in executing work performed within tools
- Develops custom reports and training material within Tools to meet business needs
- Builds complex compensation data models and automated tools in support of organizational objectives
- Analyzes impact of proposed design changes to pay programs (e.g., bonus, executive compensation, and incentives)
- Applies judgment and sound analytics to communicate impact of proposed changes, draw conclusions, provide insight, and make recommendations
- Evaluates opportunities to mitigate risk and build systems controls to ensure compliance and improve processes
- Measures vendor performance and reports on metrics to leadership
- Manages vendor RFPs for Design organization as needed
- Assist in the delivery of compensation programs such as annual compensation cycles
Qualifications for senior compensation consultant
- Corporate impact or major business unit impact
- 5 plus years’ experience in Compensation
- 3 plus years’ experience in equity administration or executive compensation is strongly preferred
- Some HRIS experience desired (Workday experience is a plus)
- Prior experience working on a global team
- Ability to interpret and apply regulatory legislation to applicable
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Senior Compensation Consultant Job Description
Job Description Example
Our growing company is looking to fill the role of senior compensation consultant. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for senior compensation consultant
- Executive Compensation – compensation planning and movement support (e.g., promotions, new hires, retirements, ) for the enterprise executive population spanning all business units and corporate functions
- Consults with HR colleagues and business partners to evaluate jobs, departmental structure, and compensation levels
- Participates in the development, implementation, and administration of compensation programs, policies and processes
- Conducts/leads job evaluation, market analysis and classification projects
- Analyzes data, formulates assumptions and presents findings to management with pay recommendations
- Provides advice and assistance to HR and business partners regarding the FLSA
- Develops and participates in the preparation of compensation guidelines and training materials
- Supports and participates in the administration of incentive and deferred compensation plans
- Contributes to the further development and implementation of compensation tools and techniques
- Represents the company at compensation association events
Qualifications for senior compensation consultant
- Compensation policies and procedures
- Significant experience consulting at the management and ideally, board level
- In-depth knowledge of executive compensation
- Ability to influence senior management and boards and work across all levels of an organisation
- Collaborative business style to introduce new value added services internally and to clients
- Superior analytical skills and understanding of human resource and financial issues within major organisations and in entrepreneurial environments
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Senior Compensation Consultant Job Description
Job Description Example
Our growing company is looking to fill the role of senior compensation consultant. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for senior compensation consultant
- Develops the salary structure and other compensation programs including, but not limited to, recognition and rewards, incentive compensation (IC), long-term incentives (LTI) and executive pay
- Advises and consults with HRBPs and all levels of management in compensation matters such as application of compensation policy, compensation planning, market and equal pay adjustments, international compensation, and other salary issues, such as hires, promotions and merit increases
- May apply and integrate predictive analysis, people metrics, and reporting to develop strategic and operational insights for workforce decision making
- Audits jobs for content and prepares job descriptions reflecting responsibilities, duties, and requirements
- Performs job evaluation of positions and application of existing classifications to individuals with respect to tasks to be performed, FLSA compliance, qualifications of employee, and company policy and budgetary limitations
- Plan and implement compensation planning process and audits compensation plans for budget and policy compliance
- Establish guidelines for the evaluation of positions and applications of existing classifications to individuals
- Develops internal training and communications programs and materials assessing needs within the organization, determining appropriate vehicles for communications and conducting training sessions as required
- Oversees responses and responds to requests for information from internal and external auditors
- May train and provide guidance and direction to other Compensation staff
Qualifications for senior compensation consultant
- CEP - Certified Equity Professional
- Strong knowledge of compensation surveys, custom survey design and statistical analysis, incentive plan design and analysis, job evaluation methodologies and pay structure analysis and design
- Ideally we are looking for someone with 4 – 5 years of experience in a similar Consulting environment, or working for an insurer or self-insurer, however applicants from various backgrounds will be considered
- Experience with HCM system
- Advanced user of MS Excel with ability to apply complex formulas and functions
- Bachelor’s Degree in Business, HR or equivalent