Compensation Manager jobs in Indianapolis, IN

PURPOSE:

This position will be responsible for managing the company's benefit plans, working to reduce costs and staying compliant. Position will also be responsible for determining market-based salaries for positions, supporting our annual merit process, and participating in various wage surveys.

KEY OBJECTIVES AND RESPONSIBILITIES:

1. Benefits Administration:
• Design, evaluate, and administer comprehensive employee benefits programs, including health insurance and retirement plans.
• Manage relationships with benefit vendors and ensure compliance with legal requirements and regulations.
• Conduct regular reviews of benefits programs to ensure competitiveness and cost-effectiveness, and make recommendations for improvements as needed.
• Provide guidance and support to employees regarding benefits enrollment, inquiries, and issue resolution.
• Designing an employee communication strategy to encourage utilization of more cost efficient items.
• Support quarterly Benefits Committee Meeting.
2. Compensation Management:
• Develop and implement compensation strategies and structures to attract and retain top talent while maintaining external competitiveness.
• Develop, implement, and maintain compensation policies and processes.
• Counsel HR on employee actions such as promotions and internal equity discussions.
• Complete salary surveys to maintain accurate market data.
• Benchmark positions as needed to maintain external competitiveness.
• Lead merit increase programs and incentive plans, ensuring consistency and alignment with performance goals.
3. Compliance and Reporting:
• Stay abreast of relevant laws, regulations, and compliance requirements related to benefits and compensation, ensuring company practices remain in compliance.
• Prepare and submit required reports, filings, and disclosures related to benefits and compensation programs.
• Participate in audits and assessments as necessary to ensure adherence to regulatory requirements and best practices.

REQUIRED EDUCATION/EXPERIENCES:

• Bachelor's degree in human resources or related field or equivalent work experience
• 5 years of experience in benefits administration, compensation management, or a related HR function, with a demonstrated track record of success in designing and implementing effective programs.
• In-depth knowledge of employee benefits regulations (e.g., ERISA, ACA) and compensation practices, with the ability to interpret and apply complex laws and guidelines.
• Proficiency in benefits administration systems, as well as Microsoft Office Suite (Word, Excel, PowerPoint).

COMPETENCIES:

• Demonstration of Calumet Values - Safety, Environment & Social Responsibility, Teamwork, Ownership, Passion for Customers, and Excellence
• Strong analytical skills, with the ability to conduct market research, data analysis, and financial modeling to support decision-making.
• Excellent communication and interpersonal skills, with the ability to effectively communicate complex information to diverse audiences and build relationships with internal stakeholders and external partners.
• Detail-oriented, organized, and able to manage multiple priorities in a fast-paced environment.