What are the responsibilities and job description for the Associate Vice President Compensation position at Advocate Health Care?
Major Responsibilities
- Lead Compensation function for assigned areas to effectively evaluate, design, propose, implement, and communicate compensation strategy, philosophy, programs, policies, and initiatives that competitively position Advocate Health in the attraction and retention of talent and are aligned with enterprise strategy, priorities, business model and culture.
- Ensures the compensation strategy is effectively implemented, within established budgets and complies with relevant regulations, laws, and employment standards. Directs and owns the process to develop, implement and administer compliant and market competitive compensation programs consistent with the organization's overall reward strategy for assigned areas.
- Act as a consultant to the business and HR partners by providing advice and counsel on compensation programs, policies, and practices in support of the objectives and operations of the business.
- Manage and ensure the maintenance of the compensation infrastructure including job descriptions, job family/sub-family, job codes, pay structures, compensation guidelines to support new hire offers, promotions, integrity of our compensation programs and documentation.
- In collaboration with Compensation Delivery, manage and execute annual compensation projects and programs including market pricing review/update, merit, and incentives through various HR technology. Oversee the coordination of the process with other Compensation teams, HR Partners and leaders including development of training materials, presentations, and meetings.
- Conducts special projects regarding highly complex and strategic compensation issues as directed. Leads project teams and manages projects across departments and business units. May represent the company on task forces, committees, and project assignments.
- In collaboration with other compensation leaders and delivery, develop and implement compensation communications, education/training, plan documents and reporting analytics.
- Ensure jobs and compensation programs are appropriately managed for local compliance, internal equity and externally competitive. Conduct ongoing research for improving effectiveness of compensation plans as it relates to market competitiveness to attract and retain employees.
- Support the development and management financial models and analytics to predict and leverage compensation programs and budgets. Enable data-driven predictions and decisions based upon consistent financial models, databases, and standard analytical tools.
- Manage all activity throughout the year and audit output, market trends and competitive pay positions to ensure compensation plans meet overall enterprise, region and market goals and objectives.
- Responsible for monthly and quarterly compensation KPI review and reporting for assigned areas.
- Keep up to date on federal, state and local compensation laws and regulations and stays current on market trends in compensation and use of HR technology as it relates to compensation through publications, webinars, seminars, and networking with providers, consultants and peers.
- Designs and directs the work of the functional area. Selects, coaches, and develops the team, setting objectives that align with company strategy to inspire and motivate the team. Manages organizational talent through performance management, succession planning, and development. Designs and directs processes by which team and individual performance are recognized, feedback is consistently delivered, and performance is systematically improved.
- Recommends operating and capital budgets and controls expenditures within approved budget objectives.
- Certified Compensation Professional certification (CCP) issued by the World at Work Society of Certified Professionals.
- Typically requires a bachelor’s degree in human resources, finance, or another related field.
- Typically requires 10 years’ progressive experience in large, complex companies with a centralized compensation department and 5 years of management level experience.
- Experience in design and implementation of compensation programs, plans, and structures across multiple geographies.
- Experience with executive and incentive compensation plan design and administration.
- Experience developing strategic partnerships with senior management and influencing key business decisions.
- Experience using HR ERP technology such as Workday, Oracle, or SAP/SuccessFactors.
- Experience using compensation administration software such as CompAnalyst, PayFactors, or MarketPay.
- Demonstrated knowledge of and skills in Human Resource management functions such as employment, benefits, employee relations, and employee/organizational development. Ability to integrate knowledge and skill into the development of effective compensation programs/procedures.
- Demonstrated understanding of the laws and regulations that affect human resources and compensation.
- Demonstrated ability to design, administer, and evaluate compensation programs and practices to maximize department and organizational efficiency.
- Critical thinking skills with the ability to research and analyze data drawn from multiple sources to find problems and make effective decisions.
- Strong business and financial acumen.
- Proven ability to develop strategic and tactical plans and proposals to meet business objectives and implement program/project plans.
- Excellent communication skills to work effectively and collaborate with all levels of employees and to address difficult and controversial issues.
- Strong customer service orientation
- Ability to lead others past their comfort zone(s) and creates a sense of urgency and speed.
- Ability to develop and maintain effective working relationships with a variety of stakeholders.
- Consultative and collaborative style that allows for influence without authority.
- Ability to mitigate unforeseen problems creatively and effectively.
- Ability to translate the technical nature of compensation for clear stakeholder understanding.
- Ability to negotiate with firmness and tact.
- Proficiency in MS Office applications. Highly proficient with Excel and PowerPoint.
- Demonstrated ability to administer and evaluate compensation related applications.
- Travel required to build relationships and support the business.
- Must be able to sit for extended periods of time.
- Exposed to normal office environment.
- Operates all equipment necessary to perform the job.