Location
Chicago, WI, United States
Posted on
Jan 02, 2022
Profile
Title:
Compensation Manager
Reports To:
SVP, Human Resources
Company:****
Location:
Chicago
Vertical:
Corporate
Summary:
Manages the research, analysis, development, implementation, administration, and maintenance of compensation programs, commission and/or incentive programs. Responsible for development and implementation of a comprehensive total rewards program (compensation management, performance management, recognitions/rewards program, etc.). The Compensation Manager will lead the compensation area, ensuring that the total rewards/compensation programs enable the achievement of the Company’s strategic goals and that programs are competitive, cost effective, and compliant with federal and state laws.
Responsibilities:
Oversees the design and policies of broad-based compensation programs which may include position evaluation, salary structures, merit matrices, salary range development, market pricing studies, executive market analysis and special reporting.
Directs development and application of techniques for job analysis, job descriptions, evaluations, grading, and pricing in order to determine and convert relative job worth into monetary values to be administered according to the Company’s compensation guidelines and policies.
Confers and works with senior leadership in the development, implementation and administration of compensation programs.
Monitors the effectiveness of existing compensation practices and recommends changes that are cost-effective, consistent with compensation trends and aligned with corporate objectives.
Partners with Vertical/Business and Corporate leaders to understand business drivers impacting compensation programs to
establish competitive rates designed to attract, retain, and motivate employees.
Provides advice on pay decisions, policy interpretations, and job evaluations.
Designs creative solutions to specific compensation-related programs and incentive plans.
Develops techniques for compiling, preparing and presenting compensation data.
Oversees the company’s annual merit review cycle related to compensation changes.
Identifies processes that can be performed more efficiently through technology and assists in the conversion of these processes with the Variable Compensation Team.
Ensures compliance with federal, state and local compensation laws and regulations.
Oversees the participation in salary surveys and monitors salary survey data to ensure company compensation objectives are achieved.
Knowledge and Skills:
Knowledge of all federal, state and local regulations and compliance requirements related to employee compensation.
Robust analytical skills and ability to interpret and communicate data.
Computer proficiency and technical aptitude with the ability to use Microsoft products, including advanced Excel skills.
Strong leadership and team management skills.
Excellent time management skills and ability to plan and set priorities.
Exemplary verbal and written communication skills.
Strong interpersonal skills in dealing with senior management.
Education and Experience:
Bachelor's degree in business, human resources or related field and 5-7 years of experience in employee compensation or comparable experience.
Knowledge of laws and regulations as they apply to base compensation and incentive compensation programs, company policies, and operations.
Certified Compensation Professional credentials preferred.
Company info