ABOUT THE JOB
IKEA Purchasing Services (US) Inc. located in King of Prussia, PA is a division of Inter IKEA Group. The Compensation and Benefits manager's role is to strengthen Inter IKEA as the employer of choice, responsible for the administration and compliance of Inter IKEA compensation programs, policies and practices; initiates proposal for the design and future strategy of the compensation programs and plans, leads the Benefits design, secure the administration and compliance of Inter IKEA benefit offerings and ensures adherence to applicable laws and regulations.
YOUR ASSIGNMENT Your tasks will include:
Benefits subject matter expert
Compensation subject matter expert
- Develop, implement and manage the vision, strategy and direction of the Inter IKEA Benefits total offer
- Provide oversight to the administration of all benefit plans and programs, i.e. Health and Welfare Plans, disability plans, retirement plan, mobility programs, immigration and legal compliance.
- Define and communicate business objectives and performance expectations for the Shared Service Center
- Initiate the development of an effective Total Rewards strategy through the use of best practices
- Monitor market trends and evaluate external competitiveness of Total Rewards programs.
- Maintain a solid knowledge of Federal and State related laws and regulations to ensure compliance with regulatory provisions
- Ensures compliance with state or federal legislation and regulations related to benefits plans and provides leadership on the analysis and review of proposed legislative changes while balancing the needs of the business and compliance.
- Provide oversight for the preparation of all regulatory filings i.e. 401K audit, 5500 and ACA reporting
- Communicate new benefit policy or changes in the law to the organization.
- Develops open enrollment materials, Summary Plan Descriptions and any others miscellaneous benefit communications.
- Direct and provides leadership for vendor management including contract negotiation, competitive analysis, contract performance monitoring, vendor inquiries and problem resolution, to ensure Inter IKEA offers is an effective benefits package, producing the best results at the lowest cost.
- Analyze financial performance of plans to determine if changes to IKEA benefit offers would provide a higher level of service to Inter IKEA co-workers while improving overall costs and efficiencies.
- Manage and evaluate benefit plan costs & analyze market trends to determine effectiveness of benefits and plan and execute new initiatives.
- Serve as member of Benefit Plan Administration Committee and Compensation committee.
- Serve as fiduciary and administrator for health and retirement plans.
- Serve as Privacy Officer for the U.S. organization to solely deliver privacy training and ensure compliance under HIPAA.
- Inspire co-workers in supporting the Inter IKEA HR Idea, Values and compliance with Inter IKEA Policies and Procedures.
- Create an environment where the IKEA Culture is a strong and living reality.
- Perform the duties as the compensation subject matter expert within Inter IKEA to support the locations that employ Inter IKEA co-workers
- Counsel HR teams, executives, managers and individuals on a wide variety of compensation issues
- Develops the Inter IKEA compensation strategy and policies, through research, design and development of compensation solutions for the organization’s (all locations) compensation programs: base pay structure, variable pay, executive compensation, and alternative reward
- Responsible for the planning, design, administration and implementation of the annual compensation planning process, Annual Performance Evaluation process, fixed (base pay structure), variable pay (One IKEA Bonus Plan, Thanks), executive compensation/retirement (SRAP), alternative reward mechanisms and pay grade determination.
- Collaborate with strategic corporate matrix partners in the development, design and direction of compensation programs
- Manage the selection and analysis of salary surveys, other market analysis, salary planning activities, and internal equity studies
- Design, implement, and communicate pay ranges, salary budget guidelines, structure/range changes and incentive plans for salaried and hourly positions
- Manage the Development and maintenance of competence profiles/job descriptions; job evaluation process, HRIS reference files, base pay planning and consistent administrative policies/practices
- Ensure all jobs are evaluated consistently and salary programs and recommendations are aligned for internal equity, market practice and with organization’s compensation philosophy.
- Administer IPE (International Performance Evaluation) for Inter IKEA US locations and MERCER survey
- Assume responsibility for other tasks and projects as assigned.
YOUR PROFILE Your knowledge, skills and experience include:
GROWING TOGETHER IKEA offers an exciting and empowering work environment in a global marketplace. And as the world’s leader at life at home, you have exceptional opportunities to grow and develop together with us.
- 5+ years of experience in the Compensation and benefits field
- Demonstrated competence in Compensation Administration of compensation programs in a large multi-site national company; prefer retail compensation experience
- Strong knowledge of Federal, State (all), and Local laws governing compensation
- Extensive knowledge of compensation plans, trends, concepts, practices and procedures
- Strong project management and implementation experience
- Demonstrated ability in working with MS Office especially Access and Excel
- Strong HRMS experience especially SAP
- Experience with and ability to successfully perform in a matrix organization
- Four year college degree in Business or related field from an accredited university
- Preferred CCP or SHRM/PHR/SPHR Certification
- Strong project management and implementation experience