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Compensation Strategy Jobs in Indiana (NOW HIRING)

Great American Insurance Group

$110K - $120K/yr

WhoWeAre Strategic Comp is a leading provider of workers' compensation insurance for large employers committed to protecting their workforce. As part of Great American Insurance Group, we combine the ...

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Compensation Strategy information

What is compensation strategy?

Compensation strategy refers to an organization's approach to designing and managing employee pay, benefits, and rewards to attract, motivate, and retain talent. It involves aligning compensation programs with business goals, market trends, and internal equity considerations. A well-developed compensation strategy helps ensure that employees are fairly rewarded for their work and that the company remains competitive in the job market. It typically includes salary structures, incentive plans, and benefits offerings tailored to the organization's objectives.

What are the key skills and qualifications needed to thrive in compensation strategy, and why are they important?

To thrive in Compensation Strategy, you need a strong background in data analysis, compensation principles, and human resources, often supported by a degree in HR, finance, or business. Familiarity with compensation management software, HRIS systems, and certifications like CCP (Certified Compensation Professional) is highly valuable. Excellent communication, problem-solving, and stakeholder management skills set top performers apart in this field. These capabilities ensure fair, competitive, and compliant compensation programs that drive employee engagement and organizational success.

How does a compensation strategy professional typically collaborate with HR and business leaders to develop effective pay structures?

Compensation Strategy professionals work closely with HR teams and business leaders to align pay structures with organizational goals and market benchmarks. They participate in regular meetings to discuss workforce trends, company performance, and budget constraints, ensuring that compensation plans attract and retain top talent. This role often involves analyzing salary data, proposing adjustments, and presenting recommendations to leadership for approval, fostering a collaborative environment that balances business needs with employee satisfaction.

What skills do you need to be a compensation analyst?

A compensation analyst needs strong analytical skills, proficiency in Excel and data management tools, and a good understanding of compensation structures and market trends. Attention to detail, communication skills, and knowledge of HR policies are also important for developing and implementing pay strategies.

What is the difference between Compensation Strategy vs Compensation Analyst?

AspectCompensation StrategyCompensation Analyst
Primary FocusDeveloping overall compensation plans and policiesAnalyzing salary data and market trends
ResponsibilitiesDesigning pay structures, benefits, and incentive programsConducting salary surveys, data analysis, and reporting
Required CredentialsHR or compensation certifications, relevant experienceDegree in HR, finance, or related field; analytical skills
Work EnvironmentStrategic planning, policy development, cross-department collaborationData analysis, reporting, supporting compensation decisions

While Compensation Strategy focuses on creating and guiding overall pay policies and structures, Compensation Analysts implement these strategies through data analysis and market research. Both roles are essential in ensuring competitive and equitable compensation practices within organizations.

What are popular job titles related to Compensation Strategy jobs in Indiana? For Compensation Strategy jobs in Indiana, the most frequently searched job titles are:
What job categories do people searching Compensation Strategy jobs in Indiana look for? The top searched job categories for Compensation Strategy jobs in Indiana are:
What cities in Indiana are hiring for Compensation Strategy jobs? Cities in Indiana with the most Compensation Strategy job openings:
Compensation Strategy jobs near you

Total Rewards (Compensation & Benefits) Analyst

Innovative Hematology, Inc.

Indianapolis, IN • On-site

$66K - $83K/yr

Full-time

Re-posted 8 days ago

Job description

About IHI
At the Innovative Hematology (IHI), we offer a future where people with rare blood disorders flourish. Our experts provide the highest quality comprehensive services and holistic care to patients with bleeding, clotting and other hematologic disorders, and to their families.
What You Will Do
The Total Rewards Analyst is responsible for the operational administration, analysis, and continuous improvement of compensation and benefits programs. This role owns day-to-day Total Rewards analytics, reporting, and program execution, while supporting strategic program development led by the Total Rewards Program Manager.
The Opportunity
  • Compensation (Operational Execution)
    • Conducts market pricing and benchmarking; evaluate roles for grade and salary placement
    • Maintains pay structures, job architecture, and compensation documentation
    • Analyzes internal equity, market competitiveness, and pay relationships
    • Produces recurring compensation reports and dashboards
    • Tracks key metrics (compa-ratio, range penetration, market index, pay equity indicators)
    • Supports merit, bonus, and incentive cycles (modeling, tracking, reporting)
    • Identifies compression, inversion, and retention risks
    • Participates in salary surveys and analyze results
  • Benefits (Administration & Reporting)
    • Administers benefit programs including enrollments, life event changes, and employee inquiries
    • Supports open enrollment execution (system configuration, communications, vendor coordination)
    • Monitors participation, utilization, and vendor reporting
    • Maintains accurate benefit records and documentation
    • Develops and maintain IHI's employee benefits site and employee benefits education
  • HR Analytics & Reporting
    • Develops and maintain standardized and self-service HR/Total Rewards reports (e.g., ADP)
    • Reduces reliance on manual report pulls by enabling HR team access and usability
    • Ensures data integrity across compensation and benefits systems
    • Delivers analytics to support operational and leadership decision-making
    • Provides analytical and administrative support for disability and leave management programs, including tracking leave utilization, coordinating with third-party administrators, monitoring case status, and supporting employee and manger inquiries
  • Program Administration & Process Ownership
    • Serves as day-to-day liaison with vendors, brokers, and third-party administrators
    • Develops, document, and maintain SOPs for recurring Total Rewards processes
    • Executes administrative processes aligned with defined SOPs
    • Supports year-end activities including open enrollment and compensation cycles
  • Collaboration & Support
    • Partners with HR Generalist on job evaluation, leveling, and organizational design
    • Provides guidance to HR Generalists on compensation and benefits processes
    • Partners with HR Generalist and managers to administer disability, leave of absence, and accommodation programs, ensuring compliance with company policies and applicable federal and state regulations
    • Supports Total Rewards Program Manager with data, analysis, and presentation materials
    • Participates in team workflows with clear accountability boundaries
  • Compliance & Governance Support (Defined Boundary)
    • Ensures accurate data and documentation to support audits and compliance reviews
    • Executes operational controls (data validation, reconciliations, reporting)
    • Escalates compliance risks or discrepancies to HR Compliance leadership
    • Supports the administration of FMLA, ADA, Short-Term Disability (STD), Long-Term Disability (LTD), and other leave programs by partnering with HR Generalists to ensure timely processing, regulatory compliance, and accurate recordkepping.
  • (Note: This role supports compliance processes but does not own compliance governance or regulatory reporting.)

This position is designed to be a hybrid role, splitting time between the IHI office in Indianapolis, IN and home. Only candidates residing in the Indianapolis metropolitan and surrounding area will be considered.
Requirements
  • Minimum Bachelor's degree in human resources or related field, or 5 years of experience in Human Resources, required.
  • Minimum 1-3 years of benefits, compensation, HR analytics, finance, or related experience; healthcare experience, preferred.
  • Knowledge of employee benefits and applicable laws and regulations.
  • Proficiency in Word and Microsoft Office, including Microsoft Excel and PowerPoint.
  • Knowledge of appropriate analysis and application of competitive salary surveys.
  • Strong Excel proficiency skills.
  • Skills with preparing presentations leveraging data analytics.

Benefits
IHI is a not-for-profit program based in Indianapolis and offers a competitive salary and benefit package.
IHI is the only federally designated comprehensive hemophilia program in Indiana, and serves the entire state through services available in Indianapolis and at outreach clinics.
IHI is a leader in hemophilia care, education and clinical research and has a dedicated on-site multidisciplinary staff to ensure availability of a wide range of required services.
IHI participates in national and international clinical research, including new infusion products and therapies, investigation of long-term outcomes, and the impact of associated conditions. The IHI research program provides patients access to new therapies, and an opportunity to improve care. Our center has more than 50 clinical research projects involving bleeding disorders, sickle cell disease, thrombosis and more.
Innovative Hematology, Inc. is an Equal Opportunity Employer.

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