Compensation Specialist - Chicago or Decatur, IL

Compensation Specialist - Chicago or Decatur, IL.

As a Compensation Specialist, you are responsible for supporting the analysis, benchmarking, and administration of compensation programs and salary structures. You will collaborate with various teams to ensure the accuracy of data, assist in compensation planning processes, and contribute to compliance efforts while maintaining data integrity and supporting compensation-related projects.

Responsibilities:

• Participates in salary surveys and analyzes market data for benchmarking.
• Supports job evaluations and assists in developing job descriptions, coordinating with relevant teams to ensure accuracy.
• Performs straightforward market analyses to maintain and update salary structures and evaluates the financial impact of these updates.
• Supports the coordination of annual compensation planning, including salary reviews, bonuses, and incentives, ensuring data accuracy and process consistency.
• Collaborates with HR Partners, Talent Acquisition, and business leaders to support the development and execution of competitive, equitable, and compliant compensation packages for new hires and internal transfers.
• Assists in maintaining HR systems and data integrity, supporting automation and enhancement initiatives across HRIS platforms.
• Contributes to compliance efforts, ensuring adherence to applicable employment laws and regulations across regions.
• Assists in researching industry trends, regulations, and best practices related to compensation and total rewards, contributing to continuous improvement efforts.
• Acts as a first point of contact for routine compensation inquiries from HR and business stakeholders, providing guidance within established policies and escalating complex issues as needed.
• Conducts job evaluations, recommends appropriate job grades, and supports job description development using established methodologies and frameworks.
• Supports the implementation and governance of compensation and reward processes and tools across business areas and, where relevant, geographies.
• Performs regular audits and data quality checks on compensation-related information to ensure accuracy, consistency, and compliance.

Qualifications:

• Bachelor’s degree in Human Resources, Business Administration, Finance, or a related field, or equivalent work experience.
• Professional-level experience working in compensation, rewards, or a closely related HR discipline.
• Proficiency in data analysis techniques to interpret and benchmark market data, salary surveys, and compensation structures.

• Demonstrated experience with job evaluation methodologies and market pricing to ensure competitive and equitable pay practices.
• Familiarity with HR systems and platforms, as well as data auditing to maintain accuracy and data integrity.
• Strong attention to detail and analytical skills for conducting regular audits, job grading, and salary review processes.
• Effective collaboration and communication skills to partner with HR, talent acquisition, and business leaders on compensation matters.
• Demonstrated capability to provide guidance to stakeholders on routine compensation inquiries and procedural topics.
• Advanced proficiency in MS Office programs: Particularly Excel, with the ability to manipulate and present data accurately and efficiently.