Principal Compensation

Walgreens•Deerfield, IL

About The Position

The Principal Compensation professional serves as a subject matter expert in compensation and rewards, including job design and documentation, job evaluation, salary structure development, pay administration, continuous improvement, and organizational design. The role conducts complex compensation activities across departments, divisions, or the company and advises business leaders, HR Business Partners, and HR teams on compensation programs and practices. The position leads job evaluations for major reviews, reorganizations, mergers, acquisitions, and divestitures; recommends organizational designs to improve business performance; and manages complex compensation projects, such as company-wide pay reviews or pay-structure changes. It develops and validates processes and systems that improve the compliance and accuracy of job evaluation, supports compensation-related HR information systems, and represents compensation on cross-functional teams. The role also develops and analyzes compensation programs for business units, supports audit and regulatory reporting, and may present programs to senior executives for discussion and approval. The position requires either a bachelor’s degree and at least two years of compensation experience, or a high school diploma or GED and at least five years of compensation experience. The posting also lists a preferred bachelor’s degree in a related field and at least four years of compensation experience. Travel of up to 10% is required. The role remains open until filled.

Requirements

Bachelor’s degree and at least 2 years of compensation experience, or high school diploma or GED and at least 5 years of compensation experience.
Experience handling confidentiality requirements associated with Human Resources and Compensation.
At least 2 years of experience applying compensation techniques, job evaluation, salary survey practices and methodologies, salary program development, job documentation, total rewards concepts, and career ladder concepts.
Experience applying Fair Labor Standards Act principles and their applicability to job evaluation.
Intermediate Microsoft Word skills, such as inserting headers, page breaks, page numbers, and tables or adjusting table columns.
Advanced Microsoft Excel skills, such as using AVERAGE, merging and centering cells, printing centered pages, or creating pivot tables.
Intermediate Microsoft PowerPoint skills, such as applying themes, formatting character spacing, inserting pictures, changing layouts and theme colors, adding transitions, customizing slide numbers, changing chart styles, or formatting fonts.
At least 1 year of direct leadership, indirect leadership, and/or cross-functional team leadership experience.
Willingness to travel up to 10% for business purposes, within and outside the state.

Nice To Haves

Bachelor’s degree in a related field such as Human Resources or Business Administration and at least 4 years of compensation experience.
Master’s degree or MBA.
Human Resources experience outside Compensation, such as as a generalist, business partner, or in benefits, recruiting, talent development, HRIS, or another HR function.
Experience designing, developing, deploying, and measuring incentive compensation plans.
Experience maintaining, administering, or using compensation systems such as REWARD/PayReview, and knowledge of HRIS analytics related to compensation.
Experience evaluating information to determine compliance with standards, laws, and regulations.
Certified Compensation Professional (CCP) certification granted by WorldatWork.

Responsibilities

Provide advanced guidance to business leaders, HR Business Partners, and team members on compensation, rewards, and organizational design.
Serve as a subject matter expert in job design, job documentation, job evaluation, salary program development, and applicable federal, state, and local pay laws.
Guide HR professionals to expand compensation knowledge and competency across the team.
Lead and improve the delivery of enterprise-wide and divisional compensation programs to meet customer needs and timelines.
Lead or independently conduct job evaluations for major divisional or departmental reviews, reorganizations, mergers, acquisitions, and divestitures.
Recommend organizational design alternatives to improve operational performance, eliminate waste, and streamline outcomes.
Manage complex, ad-hoc compensation projects and initiatives, including company-wide pay reviews and changes to pay structures.
Maintain current compensation expertise through training, professional organizations, continued learning, and professional reading.
Represent compensation and rewards as a subject matter expert on cross-functional teams.
Develop, implement, and validate processes and systems that improve the compliance and accuracy of job evaluation.
Coach HR Business Partners, Talent Acquisition team members, and others on rewards philosophy, market pricing, internal equity, job evaluation, broadband structure, salary program design and administration, job titling, and other compensation matters.
Understand organizational structure and culture to achieve business objectives.
Develop, analyze, and recommend competitive compensation programs for specific business units.
Meet with senior executives as needed to present compensation programs, answer questions, and obtain approval.
Lead compensation analysis and reporting for internal or external audits and compliance or regulatory requirements.
Lead enhancements to compensation functions in HR information systems to support strategies and initiatives.