Director, Compensation & Benefits at GoHealth (Chicago, IL)
The Director, Compensation & Benefits is responsible for the overall strategic direction, implementation and management of both Compensation and Benefit programs for GoHealth.
The incumbent will manage the planning, implementation, day-to-day administration and communication of GoHealth’ s compensation and benefit programs to ensure alignment with company and HR strategy, and compliance with applicable U.S. and state governmental regulations.
Manage processes and tools for compensation programs, including merit and short- and long-term incentives. Consult with all levels in the organization regarding pay management practices, organizational structure issues, competitive trends, and innovative and industry best practices. This position will provide functional expertise in support of the analysis of market and competitive equity programs. This position will report into the CHRO and interact frequently with executive members, Finance, HRIS, and vendor or broker representatives.Frequently cited statistics show that women and underrepresented groups apply to jobs only if they meet 100% of the qualifications. GoHealth encourages you to break that statistic and to apply. No one ever meets 100% of the qualifications. We look forward to your application.
- Benchmarks all compensation programs and recommends compensation structures and plans to ensure internal equity and market competitiveness
- Manages the compensation cycle, including completion of a balanced portfolio of surveys, annual benchmarking and creation of salary structures
- Responsible for compensation plan designs and programs for levels including Executive Comp and Stock Plan Administration
- Oversees evaluation and market assessment of jobs utilizing GoHealth methodology and/or job architecture and makes competitive recommendations for new hires and promotions
- Directs the annual merit and bonus process
- Manages the severance process
- Manages the vendor relationships pertaining to the equity program components. The equity award and administration process involve outside vendors to whom GoHealth has outsourced portions of award(s) administration. Requires timely and accurate “uploading” of approved awards for inclusion in the vendor’s management system. Responsible for the accuracy and timely updating of all award and participant data. Manage in-house administration of all long term and equity awards. This is managed through collaboration with finance, payroll and human resources. Requires the tracking, validation and payment of target awards following the completion of the applicable performance period and receipt of audited financials.
- Manages the coordination of quarterly dividend payments between the stock administration vendor and the transfer agent. Coordinates with the finance function to ensure that appropriate entries are made for accumulated dividends for outstanding restricted stock units.
- Manages the documentation and communication processes associated with the approved Long-Term Incentive program company wide. This includes the individual communication packages associated with all equity awards.
- Develops compensation communications and educational materials to ensure that compensation programs are fully understood and appropriately valued by all stakeholders
- Develop, implement and communicate reward strategy to include: salary benchmarking, retirement arrangements, benefit management and annual compensation events such as salary and bonus review
- Responsible for compliance with respect to all compensation, benefit and mobility programs. This includes, but is not limited to, Employee Retirement Income Security Act (ERISA), Affordable Care Act (ACA), Pension Protection Act (PPA), Internal Revenue Code, Fair Labor Standards Act (FLSA) and immigration law.
Skills and Experience
- Bachelor's/Undergraduate Degree; (preferred field of study: Accounting, HR, Business or similar)
- Master's/Graduate Degree or MBA (preferred)
- Proficient Excel (pivot tables), MS Office, and HRIS platform skills
- Minimum of 8-10 + years of progressive compensation and benefit management experience. Developing and managing compensation (including executive), benefit, equity and retirement programs
- In-depth knowledge of equity components, prior experience of equity program development and administration.
- Organized and goal oriented
- Discrete and customer focused with the ability to work with all levels of the organization
Benefits and Perks
- Open vacation policy because work life balance is important
- 401k program with company match
- Employee Stock Purchase Program
- Medical, dental, vision, and life insurance benefits
- Paid maternity and paternity leave
- Professional growth opportunities
- Generous employee referral bonuses
- Employee Resource Groups
- Work from Home Stipend
- GoHealth is an Equal Opportunity Employer
Due to the unprecedented situation of COVID-19, GoHealth has decided to protect our current and future employees by managing our business remotely. This is inclusive of interviewing, onboarding and each role day-to-day. Please consider that our roles will not be remote long-term and will return to an office setting once we're safe to do so following the guidance of local health authorities’ and the CDC