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Compensation Specialist

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IKEA

Oct 22

Applications are closed

  • Job
    Full-time
    Senior Level
  • Consulting
    People, HR & Administration
  • Conshohocken

Requirements

  • Bachelor’s degree in human resources, finance or business. Or an equivalent combination of education and work experience
  • Minimum of 3 years related work experience supporting the design and administration of base pay and incentive compensation programs
  • Minimum of 5 years of HR experience
  • Proven Training in HR Management, Business Administration or equivalent Skills
  • Knowledge of the Fair Labor Standards Act (FLSA)
  • Knowledge of federal, state, and local laws and ability to advise on laws and regulations affecting HR practices
  • Knowledge of salary planning tools and methods, job evaluation techniques, and market salary trends
  • Proficient in Microsoft Office Suite: Word, Excel, PowerPoint, etc.; with emphasis on Excel
  • Skill In writing and editing job descriptions
  • Strong time-management, problem-solving, and organizational skills
  • Skill in analyzing and organizing technical data
  • Skill in completing assignments accurately and with attention to detail
  • Ability to work and thrive in a fast-paced, dynamic environment with frequent interruptions, distractions, and a fluctuating workload
  • Ability to work successfully as a member of a team and independently with moderate supervision
  • Ability to process and handle confidential information

Responsibilities

  • Responsible for providing expertise and services in the outlining and implementation of Compensation and Benefits levels for managers and co-workers.
  • Translate global guidelines into local Compensation & Benefit Frameworks.
  • Cooperate with e.g. Recruitment and SSC to handle requests
  • Execute and optimize internal reporting on relevant HR Compensation and Benefit metrics, including updating co-worker records.
  • Work with other departments such as Legal, Finance and HR to e.g. cross-check and report on potential deviations from INGKA Group Compensation and Benefit Framework, policies and governance as well as local tax law.
  • Partner with Centre of Expertise on Co-Workers Relations regarding implementation of strategic decisions, best practices.
  • In cooperation with global mobility, the SSC and the business: implement, maintain and continuously develop mobility policies and processes that are effective, efficient and in line with IKEA Culture and values, market trends, latest developments and best practices.
  • Improve and coordinate processes with our global and national service providers
  • Work with other departments such as Legal, Finance and HR to e.g. cross-check and report on potential deviations from INGKA Group Compensation and Benefit Framework, policies and governance as well as local tax law.
  • Continuously implement reporting and analytics (e.g. exceptions, outcome of surveys) to understand the true demand for support, benefits and services from coworkers and the business to improve the co-worker experience, decision making and competence flow.
  • Engage and align with key stakeholders within People & Culture, Finance, Accounting, Tax, Legal and Risk Management.
  • Ensure the country is in line with the mandated ways of working to secure quality, consistency and compliance, in the execution of our Total Rewards policies and processes.

FAQs

What qualifications are needed for the Compensation Specialist position?

A Bachelor’s degree in human resources, finance, or business, or an equivalent combination of education and work experience, along with a minimum of 3 years of related work experience in compensation and benefits, is required.

Is there a specific experience required in HR for this role?

Yes, a minimum of 5 years of HR experience is required, with proven training in HR Management, Business Administration, or an equivalent field.

What knowledge is essential for the Compensation Specialist position?

Knowledge of the Fair Labor Standards Act (FLSA), federal, state, and local laws affecting HR practices, as well as salary planning tools, job evaluation techniques, and market salary trends is essential.

What software skills are necessary for this job?

Proficiency in the Microsoft Office Suite, particularly Excel, is necessary for this position.

What are some of the key responsibilities of a Compensation Specialist?

Responsibilities include implementing Compensation and Benefits levels, translating global guidelines into local frameworks, collaborating with other departments, and improving HR compensation and benefits reporting and analytics.

How does the team at IKEA value diversity?

The team believes that diverse experiences and backgrounds collectively make them wiser and stronger, ensuring that co-workers can grow into their best selves.

What kind of benefits does IKEA offer to its co-workers?

Benefits include generous paid time off, early access to earned wages, paid parental leave, tuition discounts, retirement and bonus plans, health plans, and a fun and inclusive work environment.

Is this position full-time or part-time?

The Compensation Specialist position is full-time and permanent.

What is the salary range for this position?

The salary range for the Compensation Specialist position is between $87,891 and $130,959.

How much experience is required specifically in compensation programs?

A minimum of 3 years of experience supporting the design and administration of base pay and incentive compensation programs is required.

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IKEA

The IKEA vision is to create a better everyday life for the many people

Retail & Consumer Goods
Industry
10,001+
Employees
1943
Founded Year

Mission & Purpose

The IKEA vision is to create a better everyday life for the many people. Our business idea is to offer well-designed, functional and affordable, high-quality home furnishing, produced with care for people and the environment. The IKEA Brand unites more than 200.000 co-workers and hundreds of companies with different owners all over the world. It’s one brand, but it reaches millions of hearts and homes. Our value chain is unique. It includes everything from product development, design, supply, manufacture and sales – and of course it begins and ends with our customers. The IKEA retail business is operated through a franchise system. Today, 12 different groups of companies market and sell the IKEA product range under franchise agreements with Inter IKEA Systems B.V. Any jobs published on this page are offered by different companies operating under the IKEA Trademark. IKEA was founded in Sweden in 1943.

Culture & Values

  • Togetherness

    Togetherness is at the heart of the IKEA culture. We are strongest when we trust each other, pull in the same direction and have fun together.

  • Caring for people and planet

    We want to be a force for positive change. We have the possibility to make a significant and lasting impact — today and for the generations to come.

  • Cost-consciousness

    As many people as possible should be able to afford a beautiful and functional home. We constantly challenge ourselves and others to make more from less without compromising on quality.

  • Simplicity

    A simple, straightforward and down-to-earth way of being is part of our Smålandic heritage. It is about being ourselves and staying close to reality. We are informal, pragmatic and see bureaucracy as our biggest enemy.

  • Renew and improve

    We are constantly looking for new and better ways forward. Whatever we are doing today, we can do better tomorrow. Finding solutions to almost impossible challenges is part of our success and a source of inspiration to move on to the next challenge.

  • Different with a meaning

    We are not like other companies and we don’t want to be. We like to question existing solutions, think in unconventional ways, experiment and dare to make mistakes - always for a good reason.

  • Give and take responsibility

    We believe in empowering people. Giving and taking responsibility are ways to grow and develop as individuals. Trusting each other, being positive and forward-looking inspires everyone to contribute to development.

  • Lead by example

    We see leadership as an action, not a position. We look for people’s values before competence and experience. People who ‘walk the talk’ and lead by example. It is about being our best self and bringing out the best in each other.

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