Variable Compensation Specialist

Job DetailExperience Level Sr LevelDegree Type Bachelor of Science (BS)Employment Full TimeWorking Type HybridJob Reference 0000019886Salary Type AnnuallyIndustry Staffing and Recruiting;Staffing - Temporary PlacementSelling Points Lead impactful compensation strategies in a dynamic, hybrid work environment. Collaborate with cross-functional teams to design and administer incentive plans. Enhance your expertise in competitive compensation structures and analytics.Job DescriptionVariable Compensation Specialist OverviewThe Variable Compensation Specialist will design and administer performance-based pay programs, including sales commissions, executive bonuses, and incentive plans.Collaborate across Human Resources, Finance, and business units to manage payouts under various bonus and commission plans.Provide expertise in variable compensation plan design to drive employee productivity and business growth.Serve as the primary contact for addressing employee inquiries regarding payment calculations and incentive plans.Track employee turnover and update accounting for accurate compensation accruals and budget alignment.Contribute to the development of competitive and compliant compensation structures aligned with market trends.Enhance plan administration and reporting through research and implementation of third-party systems.Variable Compensation Specialist Key Responsibilities & DutiesAssist in designing and strategizing commission and bonus structures to motivate and retain employees.Partner with Finance to forecast compensation expenses and evaluate plan costs.Conduct compensation benchmarking to ensure competitive and effective incentive plans.Collaborate with stakeholders to review plan effectiveness and resolve payout disputes.Draft plan documents and administer monthly commissions and bonuses.Analyze data for accurate mathematical modeling and ensure attention to detail in all processes.Research and implement system enhancements for improved plan administration.Variable Compensation Specialist Job RequirementsBachelor’s degree in Human Resources, Business, Finance, Economics, or a related field.4 to 6+ years of progressive experience in variable compensation plan design and administration.Proficiency in advanced Microsoft Excel modeling and compensation management software.Strong analytical skills with a focus on data analysis and mathematical modeling.Excellent attention to detail and accuracy in all tasks.Ability to work collaboratively with various stakeholders, including HR and Finance teams.Experience with system administration and process enhancements for compensation plans.