Compensation Partner (Piscataway, NJ)

Evonik•Piscataway, NJ

3d•Hybrid

About The Position

Evonik Corporation is seeking a Compensation Partner to administer compensation programs that support the strategic goals of the organization. This role involves administering the annual salary planning and short-term and long-term incentive programs. The Compensation Partner will lead and participate in projects affecting broad-based compensation programs, processes, and systems in the U.S., Canada, Costa Rica, and Mexico. The position requires conducting competitive compensation assessments for base and variable pay by participating in salary surveys and analyzing the results. It also involves conducting job evaluations on new and revised positions using market data and job evaluation techniques (Korn Ferry Hay methodology and slotting) to ensure internal equity, external competitiveness, and FLSA compliance. The role serves as an advisor to HR Business Partners and Business Leaders regarding compensation-related issues, analyzes the effectiveness of compensation programs, and recommends improvements. Additionally, the Compensation Partner provides guidance and advice on all wage and hour and other regulatory requirements affecting compensation. The position manages the annual compensation planning process, presents salary grade and total pay recommendations based on market research and internal analysis, and prepares compensation reports, communications, and analysis documentation for compensation special projects and assignments. A key responsibility is playing a role in the harmonization of pay practices and processes across business units and driving significant change initiatives in support of the newly reorganized department. The role requires creating and maintaining alignment with the Global compensation function in Germany. The Compensation Partner will develop their own capabilities by participating in assessment and development activities, training, and coaching, and will gain or maintain external professional accreditation where relevant. They will maintain an in-depth understanding of compensation-related technology, external regulations, and industry best practices. The role contributes to the drafting/creation of HR frameworks and tools within the compensation area and ensures compliance with specified design principles, internal policies, and external legal requirements. The position also promotes and maintains the principles and responsibilities related to Responsible Care within assigned areas of responsibility and as defined in the RC 14001 management system.

Requirements

Bachelor’s degree in Human Resources, Finance, Business Administration, or a related field
5 years of broad-based compensation experience
Experience with designing sales incentive and variable pay programs
Experience leading compensation projects working with Human Resource Business Partners and key business stakeholders
Experience using Advanced Excel, Word, PowerPoint, and HRIT systems to include experience with Workday, Workday Advanced Compensation module, rollouts of Workday modules, and ADP
Experience completing compensation surveys, job matching, and working with external benchmarking vendors and databases
Experience performing analysis of benchmarking data and developing recommendations to salary structures and budgets based on data
Experience with Korn Ferry Hay methodology for grading/evaluating positions
Experience handling and administering country merit and bonus processes
Experience with Costa Rica compensation practices
Experience working independently in a fast-paced environment while effectively managing multiple priorities in multiple countries
Experience maintaining high levels of confidentiality
Experience working in both a regional and global team setting

Responsibilities

Administer compensation programs that support the strategic goals of the organization.
Administer the annual salary planning and short-term and long-term incentive programs.
Lead and participate in projects affecting broad-based compensation programs, processes, and systems in the U.S., Canada, Costa Rica, and Mexico.
Conduct competitive compensation assessments for base and variable pay by participating in salary surveys and analyzing the results.
Conduct job evaluations on new and revised positions utilizing market data and job evaluation techniques (Korn Ferry Hay methodology and slotting) to ensure internal equity, external competitiveness, and FLSA compliance.
Serve as an advisor to HR Business Partners and Business Leaders regarding compensation related issues.
Analyze the effectiveness of compensation programs and recommend improvements.
Provide guidance and advice on all wage and hour and other regularly requirements affecting compensation.
Manage the annual compensation planning process.
Present salary grade and total pay recommendations based on market research and internal analysis.
Prepare compensation reports, communications, and analysis documentation for all compensation special projects and assignments.
Play a key role in the harmonization of pay practices and processes across the business units and drive other significant change initiatives in support of the newly reorganized department.
Create and maintain alignment with the Global compensation function in Germany.
Develop own capabilities by participating in assessment and development activities as well as training and coaching and gain or maintain external professional accreditation where relevant to improve performance and fulfill personal potential.
Maintain an in-depth understanding of compensation-related technology, external regulations, and industry best practices.
Contribute to the drafting/creation of HR frameworks and tools within the compensation area and ensure compliance with specified design principles, internal policies, and external legal requirements.
Promote and maintain the principles and responsibilities related to Responsible Care within assigned areas of responsibility and as defined in the RC 14001 management system.