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Manager, Compensation

Requisition ID: 2020-11337

Category: Human Resources

Region

Elmhurst, IL

Overview

The Manager of Compensation is responsible for the development, implementation, administration, and communication of compensation programs and policies across The Boyd Group. This manager reports to the Director of Total Rewards and works with their leader in the design and execution of all compensation plans and programs for both the US and Canada; this individual will manage internal and external job creation and evaluations, salary survey participation and analysis of results, salary structure / pay grade development and administration, incentive plan designs and revisions, job mapping, compensation process mapping, and alternative compensation program design in order to optimize our ability to attract and retain top talent. In collaboration with their leader, this role ensures that executive pay, base pay, incentive pay and variable pay remain competitive and conform to current compensation strategies, compliance and regulations.

Responsibilities

• Develop, implement and manage competitive compensation programs for exempt, non-exempt, and commissions paid employees.
• Monitor external/internal total rewards programs to ensure they remain industry and market competitive and is aligned with the company overall compensation philosophy by regularly reviewing external market data as well as internal data.
• Develop and implement bonus programs / bonus plan documents in collaboration with the Director of Total Rewards, that align with our compensation strategy; align key plan components/metrics with corporate forecasts to ensure plans are financially viable.
• Develop financially supported compensation progams (merit/pay structures/pay grades/bonus plans and targets, etc.) for base pay and reward-structured development (base, bonus and long-term incentives).
• Manage and maintain all job descriptions; manage the job evaluation process and job library; ensure job descriptions are up to date.
• Assist in the preparation of annual departmental budget (e.g.,compensation surveys,online tools, resources); responsible for cost modeling and management of annual merit administration, planning and payout, bonuses and other incentives as appropriate.
• Administer and manage annual merit and annual/quarterly bonus cycle.
• Identify and implement innovative programs to promote recognition, encourage employee satisfaction, and help attract diverse top talent and reduce turnover.
• Manage the accuracy and integrity of our compensation data and reporting of our Human Resource Management System; establish and implement compensation process improvements plans, SOP's and SLA's.
• Maintain current knowledge regarding compensation matters; ensure compliance with company policies, as well as applicable federal, state/province, and local laws and regulations.
• Create and update job mobility policies and practices, as appropriate.
• Develop and communicate compensation guidelines and processes; create a compensation training module for HR and leaders that educates and illustrates standard compensation operating procedures and processes, as appropriate.
• Lead compensation related projects such as system implementations of compensation module; manage required compensation work related to potential company acquistions, as needded.
• Assist Director of Total Rewards with the preparation of executive compensation disclosure information for the annual proxy statement and executive compensation materials for Board of Directors.
• Collaborate with all business clients / partners and groups.
• Supervise, develop and provide guidance and direction to Compensation Analyst.
• Manage special assignments and projects, as assigned.
• This is not inclusive of all potential duties or responsiblities.

Qualifications

• Bachelor's degree or equivalent in Human Resources, Finance or Accounting, Business Administration, or other related discipline.
• 5 - 7 years compensation management experience (ideally in a publicly-traded company).
• Strong development and management experience of base, executive, incentive compensation (STI/LTI) and commission plans and programs.
• Experience in the design and implementation of compensation structures (all levels).
• Minimum 3 years leadership/supervisory experience.
• Strong sense of ownership, urgency, and accountability.
• Ability to define problems, collect data, draw valid conclusions and recommend and implement solutions.
• Customer focus and discretion with private information.
• Ability to consult and collaborate with multiple stakeholders.
• Knowledgeable of legislation, tax, and regulatory issues impacting compensation overall, ideally in both the US and Canada.
• Experience using Workday preferred.
• Advanced expertise in Google Suite and/or Microsoft Office, including expert level in Google Sheets and/or Excel applications.


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