What are the responsibilities and job description for the Sr. Compensation Specialist position at MKO KONE Inc.?
KONE, founded in 1910, is one of the largest, award-winning elevator companies in the world and our offering for employees is as competitive as our offering for customers. Not only do we provide highly competitive salaries, company vehicles for specific roles, and world-class benefits for our salaried employees - we also pride ourselves on our culture and principles. Innovation, sustainability, collaboration, and ethical business practices are just some of the pillars that we use to define our own success. Come join our family in KONE Americas to be a part of something big!
JOB OVERVIEW
The Sr. Compensation Specialist is responsible for leading the local development, implementation, communication, change management, and administration of variable compensation, fixed compensation activities, processes, guidelines, policies, and programs. This role reports directly to the Manager of Performance & Reward Americas and is a key member of the Americas Performance and Reward Center of Expertise (COE). The specialist will participate in and / or lead key projects to ensure the execution of the Annual Operating Plan and annual global / local processes.
This role ensures that current compensation practices align with global strategy and local compliance for the United States and supports other countries when global processes take place. Additionally, the specialist will lead the annual process for Kone Bonus Plan, working with the global team to implement and execute these locally and supports / collaborates with Unit P&C and P&C services on the business-as-usual processes in regards of performance and compensation matters as consultant.
JOB DUTIES :
Compensation Management
Leads and / or participates in day-to-day management of compensation related activities, global and local initiatives and improvements to deliver against company goals and objectives.
Implements, educates, consults and administers global compensation strategies, policies, and programs in collaboration with the Global Performance & Reward COE.
Conducts job evaluations for assigned area(s) to determine appropriate grade and salary assignments using the Mercer IPE methodology.
Owns the US Job classification code table to determine FSLA status to be shared with Recruiters and Unit P&Cs. Ensuring up to date data is in place in KONE systems.
Conducts research and analyzes relevant external market data and conditions as well as internal data; identifies trends; prepares reports and recommendations for management based on the research conducted. Ensures current practices and policies align to market best practices. Serves as an internal resource to P&C for compensation research and analysis.
Advises Unit P&C , Talent Acquisition and People Leaders on compensation matters including external and internal offers, promotions, equity, incentive and other related recommendations and changes.
Partner with Finance to ensure accurate accrual and payment of compensation programs. Supports mobility to ensure international assignees and other cross-border employees’ salaries are aligned appropriately.
Fixed & Variable Compensation
Leads the fixed and variable compensation processes including the KONE Global Bonus Plan across Americas using both manual and automated tools.
Defines processes customized per country, coordinating scorecard assignments, ensuring eligibility rule updates and data quality before calculations, leading audits, performing calculations and building the end-to-end strategy to deploy customized materials, communication and change management plans and end to end strategy.
Partner with the Global Performance & Reward COE on potential changes / projects related to the annual bonus process.
Partners with Leadership and Finance on the design, data collection and development of local incentive plans including sales and operative plans.
Ensures that local incentive plans, other allowances, fixed compensation, other incentives and recognition approaches are aligned with KONE’s global reward philosophy, are adjusted to ensure relevance in the local market and are compliant with relevant regulations, laws and employment standards.
Communicates and trains management and human resources on the processes needed coordinating efforts with P&C process specialist, develop guidelines and tools, provides guidance and consulting to P&C colleagues and management, reviews and monitors budgets and prepares final analysis and presentation for approval to senior management.
Project Management
Leads projects in assigned area using approved project methodology ensuring delivery of results according to plan, scope timelines and expectations.
Prepare a plan, development of materials needed and communication and change management plans ensuring a proper execution coordinating efforts with the P&C process specialist. (Example : DE&I, Salary GAPs, pay equity analysis, other needed in the operating plan under his scope)
Local Process Support
Acts as local support for other related Performance & Reward related annual processes for assigned areas in conjunction with peers, Unit P&C and P&C Shared Services.
Communicates and trains management, employees and other P&C departments on the process, guidelines and tools, provides guidance; consults with Unit P&C and Management; reviews and monitors budgets and prepares final analysis and assists process lead on presentation for approval to senior management and processes in the U.S. Review and edit local communications to ensure accurate translation of content from English to Spanish or French and vice versa
Delivery Operations Support
Contribute to the overall successful delivery of P&C services to customers as a part of the Area Performance & Reward COE.
Provide support to P&C Shared Service Center regarding the resolution of compensation issues; acts as escalation point for the most complex reward related questions and requests that cannot be handled by shared services
HIRING REQUIREMENTS :
3 to 5 plus years of broad-based compensation experience required including leading annual compensation processes such as salary structures, Variable compensation plan design / calculation, fixed compensation, allowances, etc.
Bachelor’s degree in business administration, Actuarial degree, accounting, statistics or a related field required.
Experience in end-to-end Project Management leading multi-dimensional teams and manage stakeholders at all levels of the organization.
Previous experience with P&C IS systems required; Workday preferred, Mercer Comp methodology, job evaluations.
Certified Compensation Professional (CCP) or other related certification preferred.
Excellent computer proficiency (MS Office – Advanced Excel, PowerPoint and Outlook, Teams, other)
Excellent verbal and written communication skills, including ability to effectively communicate and collaborate with internal and external customer including presenting to senior leaders within the company
Must be able to work under pressure and meet deadlines while maintaining a positive attitude and providing exemplary customer service.
High ability to multi-task and prioritize
Experience in problem solving and root cause analysis strongly preferred.
Strong project management and organizational skills and ability to manage multiple projects and priorities simultaneously.
Works independently, takes initiative, drives projects to completion with limited instruction.
Excellent collaboration and cross-cultural skills to collaborate with all levels, across all business lines and functional areas including supply lines and global units.
Customer-driven with emphasis on results.
Outstanding attention to detail.
Demonstrated proactive communication.
Preference given to Spanish or French speaking applicants (in addition to fluent English).
The hiring range for this role is $108,000.00 - $149,000.00. The compensation package offered will depend on the candidate’s ability to meet the requirements of the role and a range of factors unique to each candidate, including but not limited to their skill set, years and depth of experience, certifications, and location.
About KONE
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Salary : $108,000 - $149,000
