Location: New York, New York, United States
Company: Marsh & McLennan CompaniesJob ID R_039986-en Apply
Our Global Total Rewards Team is seeking a Compensation Specialist to join our team in New York reporting to the Global Total Rewards Director. This role will be responsible for helping establish the compensation strategy across the firm. The Compensation Specialist will need to conduct analysis in different areas involving compensation, such as compensation statistics and market analysis. They will assist and collaborate, as appropriate, in the planning, coordination, facilitation, administration, and reporting of the annual year end process.
The role will support and implement compensation strategies and programs for the region by providing consultation and analytical support to team members and HR colleagues across the globe.
We'll need this role to:
- Provides consulting services to HR, lines of business, and/or executive compensation team by researching and analyzing complex compensation, executive compensation, and equity situations.
- Provides advanced analysis and generate complex reports from large databases; create and manipulate complex databases to manage employee data and competitive compensation data.
- Prepares compensation proposals and/or modeling by consolidating and packaging data for leadership and develop business focused recommendations based on the analysis in order to make compensation recommendations to management and leadership.
- Conduct market pricing activities by comparing internal pay to the market using published compensation surveys; analyzes total cash compensation practices internally as well as externally; conducts job evaluation activities including job description/coding and maintenance; prepare advanced analytics and modeling in response to requests from leadership for pertinent data.
- Partners with HR business partners regarding the job evaluation process and related matters providing subject matter expertise on determining job grades to ensure internal equity and appropriate external competitive positioning.
- Act as point of contact and handles requests for information on compensation matters for HR partners and other Rewards members
- Act as an expert system resource during year-end process
- Manage projects, such as annual market pricing, annual survey participation, and salary structure implementation/maintenance.
- Generates and interpret intermediate to complex reports from large databases as well as manipulate these databases to manage employee data and competitive compensation data.
- Analyzes compensation practices internally as well as externally, including Sales Incentive Plans.
- Develops hiring offers (including executives) and job pricing as required.
- Understand market practices and trends for the relevant countries.
- Acts as an expert resource during year-end review process by ensuring guidelines are followed, auditing data and answering questions and/or escalating issue to manager.
- Contributes to build Total Rewards capabilities in the Region through communication and education initiatives.
- Manages directly or contributes to a various range of Total Rewards projects such as implementation of new programs and systems, compensation program review, sales incentive plan design and evaluation.
- Bachelor of Arts
- 5+ years of professional experience working in relevant function
- Knowledge of compensation and benefits principles and concepts including market pricing and compensation plan/structure design
- Must have advanced proficiency with Excel, as well as other Office applications such as Word and PowerPoint
- Able to perform analysis on large amounts of data, draw conclusions and provide recommendations
- Experience with Sales incentive plans, management and evaluation (is desired)
- Experience with Workday (is desired)
- Experience with survey participation, market pricing, job evaluation (is desired) and FLSA
- Excellent communication skills - both written and verbal
- Must be a collaborative self-starter
- Strong analytical skills and attention to details
- Consulting approach and ability to work on multiple priorities