Total Rewards Analyst
Peoria, IL, USA
Posted on Wednesday, September 6, 2023
We’re not like other insurance companies. From our specialty products to our business model, our culture to our results — we’re different. Different is who we are, and how we work, interact, deliver and succeed together. Creating a different and better insurance experience doesn’t just happen. It takes focus and a shared passion for going beyond the expected to forge relationships and deliver care that makes a difference. This approach rises from and is supported by our talented, ethical and smart team of employee owners united around a single purpose: to work alongside our customers and partners when they need us, in unexpected ways, with exceptional results. Apply today to make a difference with us.
RLI is a Glassdoor Best Places to Work company with a strong, successful background. For decades, our financial track record has been stellar — a testament to our culture and validation of our reputation as an excellent underwriting company. Our insurance subsidiaries are rated A+ “Superior” by AM Best company and A “Strong” by Standard & Poor’s. Check out our strong financial track record here.
Under occasional supervision, supports the administration of the company’s compensation structure. Compares jobs to market data and makes recommendations to HR and business unit management regarding salary and pay grade changes. Updates the company’s job descriptions as needed. Participates in all salary surveys utilized by the company. Maintains and updates the company’s salary structure on an annual basis. Administers aspects of company incentive plans. Prepares analyses of compensation as requested.
Principal Duties & Responsibilities
Evaluates and makes recommendations to HR and business unit management regarding salary, title and pay grade changes. Formulates recommendations of job titles and pay grades for new positions.
Approves ad hoc salary changes and annual merit increases within designated authority.
Conducts market analysis of new and existing benchmark jobs across all levels of the organization.
Prepares and summarizes salary data for distribution to third-party salary surveys.
Analyzes merit increase trends and salary structure movement on an annual basis and makes recommendations to HR management. Maintains and updates salary structure documents.
Creates, maintains, and updates job descriptions along with documents pertaining to organizational career pathing.
Administers and communicates company short-term incentive plans including creation, maintenance, and communication of bonus plans, and bonus calculations. May include monthly bonus accruals and reconciliations.
Administers and communicates compensation policies, practices and decisions. Conducts compensation training as necessary.
Documents and submits salary changes, commissions and bonuses as necessary.
Maintains and updates procedures, policies, and internal processes as needed to support function.
Coordinates special projects when needed.
Education & Experience
Requires a bachelor’s degree in human resources, accounting, business administration, or in a related field and 2-5 years of experience in a similar field or position. Certified Compensation Professional (CCP) designation and Workday experience preferred.
Knowledge, Skills, & Competencies
Ability to operate in a fast-paced environment
Ability to use critical thinking and analytical methods with complex financial situations to find creative yet workable solutions
Ability to manage multiple projects and/or priorities simultaneously
Ability to analyze and determine job responsibilities to ensure appropriate market pricing
Ability to demonstrate attention to detail and strong organizational skills
Ability to formulate and communicate findings and recommendations to HR staff and management on matters of compensation and/or benefits.
Ability to use spreadsheet software to summarize and analyze large amounts of employee data.
Ability to maintain the highly confidential nature of human resources work.
Physical Requirements / Work Environment
Usual office environment with frequent sitting, walking, and standing. Occasional climbing, stooping, kneeling, crouching, crawling, and balancing. Frequent use of eye, hand, and finger coordination enabling the use of standard office machinery. Oral and auditory capacity enabling interpersonal communication as well as communication through automated devices such as the telephone.
Personal & Professional Growth
RLI encourages its employees to pursue professional development work in insurance and job-related areas. We make a commitment to employees to provide educational opportunities that help them enhance their skills and further their career advancement. RLI fosters a true learning culture and encourages professional growth through insurance courses, in-house training and other educational programs. RLI covers the cost for most programs and employees typically earn a bonus upon successful completion of approved courses and certifications. Our personal and professional growth benefits include:
Nationwide employment opportunities
Training & certification opportunities
Diversity & Inclusion
Our goal is to attract, develop and retain the best employee talent from diverse backgrounds while promoting an environment where all viewpoints are valued and individuals feel respected, are treated fairly, and have an opportunity to excel in their chosen careers. We actively support, and participate in, initiatives led by the American Property Casualty Insurance Association that aim to increase diversity in the insurance industry. Cultivating an exceptional and diverse workforce to deliver excellent customer service reinforces our culture and is a key to achieving superior business results.
RLI is an equal opportunity employer and does not discriminate in hiring or employment on the basis of race, color, religion, national origin, citizenship, gender, marital status, sexual orientation, age, disability, veteran status, or any other characteristic protected by federal, state, or local law.
At RLI, we're all owners. We hire the best and the brightest employees and allow them to share in the company's success through our Total Rewards. With the Employee Stock Ownership plan at its core, the Total Rewards program includes all compensation, benefits and perks that come with being an RLI employee.
Employee stock ownership plan (ESOP)
401(k) — automatic 3% company contribution
Annual discretionary 401k and ESOP profit-sharing contribution (up to 15% of base salary)
Annual bonus plans
Work & Life
Paid time off (PTO) and holidays
Paid volunteer time off (VTO) to support our communities
Parental and family care leave
Flexible & hybrid work arrangements
Fitness center discounts and free virtual fitness platform
Employee assistance program
Health & Wellness
Comprehensive medical, dental and vision benefits
Flexible spending and health savings accounts
2x Base Salary for Group Life and AD&D insurance
Voluntary life insurance for purchase
Critical Illness & Accident insurance
Short-term and long-term disability benefits