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Manager, Compensation

Economical Insurance

This is a Contract position in Waterloo, ON posted February 24, 2021.

Manager, Compensation

LOVE WHAT YOU DO

Work is a big part of our lives, so it makes sense to choose a company that offers truly rewarding work. At Economical Insurance®, your contributions, creativity, and energy won’t go to waste. Our passionate culture and pioneering mentality infuse everything we do, which is why our one-million-plus policyholders know we’ll protect their homes, businesses, farms, cars, and pets like they’re our own.

We’re not afraid to see how far we can push the envelope to make insurance better. Our family of companies includes Sonnet, the only Canadian home and auto insurer offering a fully online buying experience, and Petline, the largest Canadian pet insurance company. We’re also preparing to become a publicly traded company, a once-in-a-lifetime career opportunity for everyone who joins our team.

If you’re looking for a company that takes care of its people – and its customers – and has a track record of doing big things, get ready to love it here.

What can you expect in this role?

Our Total Rewards team plays an important role in supporting the attraction, engagement, and retention of our key talent.  Reporting to the AVP, Total Rewards and leading a small team of specialists (2), the Manager, Compensation will design, implement, administer, manage and govern the organization’s compensation strategy, philosophy, programs, policies, and initiatives. The Manager, Compensation will partner closely with HR Business Partners, business leaders, HR leaders and Total Rewards colleagues to provide integrated solutions to compensation, rewards and broader HR challenges.

  • Ensures compensation programs are fair, competitive and legally compliant
  • Provides coaching guidance and manages the deliverables of the compensation specialists
  • Manages existing short term, long term and sales incentive plans
  • Leads the annual salary budgeting process and forecasting analyses
  • Partners with other areas of HR to ensure employee compensation data is current and relevant
  • Leads the annual year-end compensation process including recommending salary increase budgets and changes to ranges; responsibility for the technology platforms used to deliver the annual incentive award and merit programs; developing and implementing the communication strategy, timelines and materials; providing business and HR Business Partner support; fulfilling auditing and reporting requirements
  • Responsible for managing and executing the operational aspects of our annual salary survey cycle, including project planning, completing survey submissions, providing guidance to team members, managing vendor relationships and supporting the vendor selection process
  • Considers requests to participate or recommends participation in new and/or custom surveys by collaborating with the HR Business Partners to determine business needs
  • Partners with the HR Business Partners as a strategic internal consultant to understand the business strategies of client groups; provides analysis, recommendations and guidance on compensation programs to maintain internal equity, market competitiveness, and compliance to policies, procedures, and any applicable legislation
  • Governs the job evaluation process including the use of Hay methodology and collaborating with HR Business Partners to ensure roles are valued fairly with the aim of supporting leaders in executing strategy through a functional organization design
  • Completes job evaluations for senior roles
  • Supports the provincial pay equity process related to the Ontario and Quebec Pay Equity Acts and other jurisdictions as applicable
  • Completes in-depth analyses of the financial impact of current and proposed compensation programs
  • Prepares complex analyses to support/recommend pay decisions
  • Supports compensation-related needs associated with future growth/acquisitions, including assessing compensation plans and transition needs, and performing due diligence around practices of targeted acquisitions
  • Supports the preparation of compensation-related Board and Committee materials
  • Maintains a pulse on industry, market and legal intelligence for trends in compensation

What do you bring to the role?

  • Bachelor’s degree in Human Resources Management, Business Administration, or a related field.
  • CHRL and CCP certification preferred
  • 7 – 10 years progressive experience in broad-based compensation and total rewards
  • Experience as a Team Lead or People Manager is an asset
  • Demonstrated knowledge of job evaluation, pay equity, and compensation plan design and administration
  • Strong analytical, problem-solving, and decision-making skills.
  • Ability to organize and accomplish objectives independently and proactively.
  • Ability to deal with ambiguity and develop a course of action.
  • Strong project management with the ability to plan, organize and resource assignments of substantial variety and complexity
  • Business acumen, collaboration, and client-focused mentality to develop and strengthen business relationships
  • Ability to influence, drive decisions and lead discussions utilizing data
  • Experience in a fast-paced, dynamic, team-oriented environment, with the ability to navigate complex issues while maintaining attention to detail
  • Superior written and verbal communication skills
  • Significant judgement and maturity in dealing with highly sensitive and confidential information

We also take potential into consideration. If you don’t have this exact experience, but you know you have what it takes, be sure to give us more insight through your application and cover letter.

Go ahead and expect a lot – you deserve it.

We offer: 

  • Competitive salaries, with potential for an annual raise and bonus
  • Pension and savings programs, with company-matched RRSP contributions
  • Generous time away, including vacation and personal needs days
  • Paid volunteer days and company matching on charitable donations
  • Educational resources, tuition assistance, and paid time off to study for exams
  • Two annual wellness campaigns – participants earn up to $300 each year to spend on almost anything supporting health and work-life balance (think things like spa days, daycare, pet grooming)
  • An unlimited employee referral bonus program
  • Flexible work schedule
  • Discounts on products and services

HOW TO APPLY

To complete the online application process, you’ll need to upload your resume and cover letter in one document. The posting will close at midnight on the deadline date; in order to successfully apply, please ensure your application is submitted by 11:59 p.m. the day before the deadline.

Our inclusive work environment welcomes diversity and supports accessibility. If you require accommodation at any time during the recruitment process, please let us know by contacting: hrsharedservices@economical.com.

Visit economical.com to learn more about us and what we’re up to.