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1 compensation consultant Job in worcester, ma

The Hanover Insurance Group
Worcester, MA | Full Time
$66k-81k (estimate)
2 Months Ago
Compensation Consultant
$66k-81k (estimate)
Full Time | Insurance 2 Months Ago
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The Hanover Insurance Group is Hiring a Compensation Consultant Near Worcester, MA

Our Human Resources department is currently seeking a Compensation Consultant. This role will work a hybrid schedule out of our Worcester, MA office. Remote candidates will be considered. Position Overview/Summary:The Compensation Consultant collaborates with the HR team and business partners to design and implement competitive compensation plans. Regularly consult with business areas to support job architecture reviews and provide support on compensation related initiatives. Lead and/or support annual compensation programs. Play a critical role in ensuring fair pay practices, analyzing data, and adhering to labor legislation. Responsibilities/Essential Functions: Conduct job evaluations utilizing external market data and internal factors to make appropriate salary grade assignment and competitive pay decisionsComplete market analysis to ensure competitive pay positioningParticipate in salary surveys and synthesize results identifying key observations and market insights to be presented to managementSupport administration and communication of compensation programs including the annual and off-cycle compensation processes and open enrollmentAnalyze and interpret data showcasing areas of opportunityWork with business partners in HR to support day-to-day compensation questionsConduct and compile information on competitive compensation programs and practicesMaintain updates in Hanover’s compensation management systems and train internal users on the toolGather information required for pay equity analysis effortsMaintain documentation on job evaluations and market analysis workSeek input from key stakeholders on compensation programs and practicesLead small-to-medium sized compensation projects, including research and analysisPartner with the HR Technology team to design and deliver compensation tools and technologiesProvide innovative solutions aimed at creating greater efficiencies and improved outcomesDevelop and analyze key measures of compensation program effectivenessAnalyze impact of regulatory or compliance changes to existing programsPosition Requirements:Bachelor’s Degree preferred5 years of compensation related experienceBackground in total reward and/or human resources business partner role a plusStrong knowledge of HR practices and labor legislationStrong analytical skills, attention to detail, and demonstrated ability to maintain a high degree of accuracyAbility to capture, assess and articulate data findingsAbility to recommend, document and implement process improvementsAbility to collaborate with others, manage moderately complex projects and deliver high quality analysisAbility to manage multiple projects at onceExperience with compensation survey management tools a plusProficient with Microsoft Office Suite with advanced knowledge of Excel

Job Summary

JOB TYPE

Full Time

INDUSTRY

Insurance

SALARY

$66k-81k (estimate)

POST DATE

07/11/2024

EXPIRATION DATE

10/15/2024

WEBSITE

hanover.com

HEADQUARTERS

WORCESTER, MA

SIZE

3,000 - 7,500

FOUNDED

1852

CEO

FREDERICK EPPINGER

REVENUE

$3B - $5B

INDUSTRY

Insurance

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The job skills required for Compensation Consultant include Analysis, Job Evaluation, Initiative, Microsoft Office, Attention to Detail, Market Analysis, etc. Having related job skills and expertise will give you an advantage when applying to be a Compensation Consultant. That makes you unique and can impact how much salary you can get paid. Below are job openings related to skills required by Compensation Consultant. Select any job title you are interested in and start to search job requirements.

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The following is the career advancement route for Compensation Consultant positions, which can be used as a reference in future career path planning. As a Compensation Consultant, it can be promoted into senior positions as a Stock Plan Administrator III that are expected to handle more key tasks, people in this role will get a higher salary paid than an ordinary Compensation Consultant. You can explore the career advancement for a Compensation Consultant below and select your interested title to get hiring information.

If you are interested in becoming a Compensation Consultant, you need to understand the job requirements and the detailed related responsibilities. Of course, a good educational background and an applicable major will also help in job hunting. Below are some tips on how to become a Compensation Consultant for your reference.

Step 1: Understand the job description and responsibilities of an Accountant.

Quotes from people on Compensation Consultant job description and responsibilities

Ensure compensation practices are in line with labor legislation.

03/08/2022: Longview, TX

Work closely with HR to plan and implement compensation packages.

04/06/2022: Brockton, MA

Their duties include creating salary structures and incentive plans, implementing performance management programs, and consulting with HR managers on compensation-related issues.

03/22/2022: Paramus, NJ

Compensation consultants implement and design compensation plans for companies with the goal of creating proper incentives for employees.

04/25/2022: Rochester, NY

Ultimately, a top-notch compensation consultant should have excellent knowledge of payroll procedures, labor legislation, and pay rate research.

03/30/2022: Nashua, NH

Step 2: Knowing the best tips for becoming an Accountant can help you explore the needs of the position and prepare for the job-related knowledge well ahead of time.

Career tips from people on Compensation Consultant jobs

Good communication skills.

03/27/2022: Atlanta, GA

Familiarity with payroll software.

04/29/2022: Las Cruces, NM

Review and assess pay scales, base pay and incentives.

03/01/2022: Lexington, KY

knowledge of payroll procedures.

03/05/2022: Concord, NH

recommending bonus programs based on job analyses.

04/01/2022: Cheyenne, WY

Step 3: View the best colleges and universities for Compensation Consultant.

Butler University
Carroll College
Cooper Union
High Point University
Princeton University
Providence College