Hybrid Compensation Manager bei Clyde Companies

JOB TITLE: Compensation Manager

JOB LOCATION: Orem

REPORTING TO: Director

Description 

The Compensation manager is responsible for the overall implementation, communication, and administration of the company’s compensation programs. This includes managing the deferred compensation plan, the compensation structure and design, overseeing the merit and short-term incentive programs to ensure they align with the company’s goals and competitive practices.   

Job Responsibilities 

• Collaborate with senior leadership to understand the organization’s goals and strategy related to compensation.  

• Maintains knowledge of trends, best practices, federal, state, and local regulations, and new technologies in human resources and compensation; applies this knowledge to ensure program compliance and communicate changes in policy, practice, and resources to upper management. 

• Develop and oversee annual compensation budget.   

• Perform other duties as required. 

Retirement 

• Administrator for the Deferred Compensation program. 

• Coordinate with Newport, for open enrollment and distributions. 

• Ensure all administrative policies and procedures are documented, kept up to date. 

Compensation 

• Develop, implement, and maintain compensation philosophy, policies, and procedures to attract, retain, and motivate employees. 

• Partner with company HR leadership in understanding company-wide retention strategy and key roles of high turnover when analyzing and reporting on compensation data.  

• Create reporting that provides transparency around shared services fee and support provided by corporate.  

• In conjunction with CHRO and the Director of Total Rewards, create an executive dashboard for Total Rewards that ties to employee engagement and retention.   

• Ensure internal equity and external competitiveness in compensation by  

• Designing and maintaining the enterprise salary structure, including job evaluation, market pricing, annual benchmarking, and salary survey participation.  

• Annually reviewing and updating enterprise-wide job titling system, job descriptions, job levels, and salary bands. 

• Partnering with Director, Total Rewards to conduct a comprehensive compensation and benefits survey every three years.  

• Keep up to date on all federal, state, and local compensation laws. Ensure program compliance with compensation regulations. 

• Stay ahead of industry trends in compensation through strategic compensation networks, attending strategic conferences and studying competitor data.  

• Utilize best in class software solutions to compile, prepare and present data.  

• Consult with subsidiary and human resources leadership by: 

• Modeling financial impact of compensation programs and recommendations, and report on compensation trends. 

• Creating and conducting training on best practices when dealing with compensation. 

• Reporting on findings from surveys and audits to assist in informed decisions.  

• Develop communication and training programs for managers regarding compensation including enterprise-wide training materials for managers.  

• In partnership with team, help with the Total Rewards website, driving initiatives that enhance employee understanding and engagement.  

• Lead the annual merit process and partner with finance to produce annual Short Term Incentive payments. 

Knowledge, Skills, and Abilities 

• Proficiency utilizing Microsoft Suite of tools to visualize and analyze data and trends. 

• Proficiency with compensation-related regulations, such as FLSA, EEOC and IRS guidelines 

• Proficiency in compensation benchmarking tools and HRIS systems. 

• Commitment to upholding principles of fairness, equity, and diversity in compensation practices. 

• Strong analytical skills with the ability to interpret data, draw conclusions and make data-driven recommendations. 

• Requires excellent communication and interpersonal skills, written and verbal. 

• Ability to develop strong working relationships and effectively collaborate and influence stakeholders at all levels within the organization. 

• Strong initiative and the ability to effectively prioritize and manage competing demands. 

Education and Certificates 

• Bachelor of Science in Human Resources or related field; Masters preferred. 

• 5-10 years’ experience in compensation management with a leadership role. 

• Senior Professional in Human Resources (SPHR) Certification preferred. 

• 10+ years' experience in human resources as an HR generalist or manager. At least 5 of those years should be as a leader in Compensation Administration. 

• Certified Compensation Profession (CCP) a plus. 

Physical Requirements 

• Physical Work Requirements - Light: exerting up to 15 lbs of force occasionally. 

• Repetitive motion associated with operating various types of equipment. 

• Prolonged periods of sitting at a desk and working on a computer.