- Our mission is clear: We seek to provide quality affordable healthcare products.
- With over $4 billion in sales and more than 12,000 people working around the world, our Company is a leading global healthcare supplier.
- We develop, manufacture, package and distribute over-the-counter and prescription pharmaceuticals, nutritional products, active pharmaceutical ingredients and consumer products.
- We are the world’s largest manufacturer of store brand OTC pharmaceutical products and infant formulas.
- We are a company that is growing organically and inorganically and we have a new position for a Senior Total Rewards Specialist due to expansion of the Global Compensation team.
- The Senior Total Rewards Specialist will support the development, implementation, communication and administration of compensation programs including base, variable and long-term incentive programs, as well as policies and procedures for assigned groups.
- This role will lead compensation projects as assigned.
- In addition it will act as an internal consultant to leadership and HR Business Partners on compensation related matters.
Responsibilities include but are not limited to:
- Support the overall planning and execution of the annual merit, bonus and long-term incentives global compensation cycle
- Participates in approved salary surveys through the collection and reporting of data to third-party survey providers. Review salary survey results and provides recommendations on additions/deletions of benchmark jobs in use.
- Provides analytical support in complex aspects in the development of merit budgets, salary structure modifications, and incentive plan data gathering and reporting.
- Provides expertise in accessing, changing, maintaining, and assuring the quality of compensation and HR databases.
- Prepares complex economic and cost impact models of compensation initiatives for individually assigned activities or as part of larger Compensation department initiatives.
- Provides counselling to management in the review of complex pay changes on an individual level (e.g., promotions, transfers, etc.), or on a division- or system-wide basis, (e.g., merit review cycles, etc.).
- Keeps current in all aspects of compensation through formal and informal training, participation in local and national professional organizations, continuous learning and reading, and general professional curiosity.
- Coaches, mentors, guides, and provides oversight to less senior Compensation Analysts.
- Manages complex ad-hoc Compensation projects and analyses. Participates in the development of incentive compensation plan designs (e.g., short- and long-term plans, sales incentive compensation, etc.), and assures model validation and alignment with goals, forecasts costs and develops the communication plans, tools to measure attainment against plan, and calculation of potential award amounts.
- Counsels HRBPs, TA team members, and others within the HR division on many aspects of the company`s compensation philosophy, market pricing, internal equity, job evaluation, broadband structures, and other aspects of compensation to ensure that our company is able to effectively recruit and retain top-tier talent.
- Develops, analyzes, and makes recommendations for compensation programs in support of specific business units within the Company to ensure they are competitive within the market, position, and industry. May meet with senior level executives to present programs, answer questions, and gain approval of compensation programs.
- Bachelors Degree in Business, Human Resources, or other related field required.
- Must have at least five years of experience as a compensation professional.
- Must possess sound knowledge of compensation theory and practice.
- Excellent communication skills are essential, including verbal, written and presentation skills.
- Excellent computer skills are required, including Microsoft Office (Excel, Word, and PowerPoint) and familiarity with HRIS data systems.
- Experience with Hay job evaluation methodology preferred.
- PeopleSoft and SAP HCM experience preferred