The Compensation Manager position is responsible for leading the development, implementation, and administration of compensation programs, policies, and procedures that align with the overall business and compensation strategy. Responsible for managing common compensation functions, including job evaluation, salary structure development, survey participation, incentive plan design, and associated analysis.
MAJOR DUTIES AND RESPONSIBILITIES (ESSENTIAL FUNCTIONS)
Designs and implements compensation structure and programs to meet company objectives while maintaining internal equity and external market competitiveness. This includes performing job evaluations, developing salary grade structures, incentive compensation plans, and job descriptions.
Ensures the administration of various compensation programs are in compliance with established guidelines including incentive compensation plans, annual merit review cycle, and employee transitions within the company.
Acts as an internal consultant to provide leadership, counsel, and support to managers and supervisors on compensation practices and programs including job evaluation, internal equity, and policy interpretation.
Develops and drives communication for compensation actions including merit process and incentive compensation process.
Continually reviews and improves compensation programs to ensure they are designed to attract, retain, and engage employees.
Manages participation in external salary surveys used for compensation program analysis, job evaluations, and job descriptions.
Maintains and develops job descriptions and grades for all positions within the organization.
Manages annual merit process and incentive compensation processes.
Builds and maintains strong and effective working relationships with HR Business Partners, Payroll, and Benefits. Works closely with the benefits function to ensure the total compensation and rewards programs meet the needs of the company and the employees.
Partners with HRIS Analyst to ensure appropriate measurements are identified and gathered for reporting purposes. Performs meaningful analysis and provides reporting to management to serve as a tool for decision making.
Participates in various compensation and performance management related projects which involve revision, development, and/or redesign of existing programs. Uses analytical rigor to interpret quantitative and qualitative information and draw conclusions in a logical, systematic way to prepare recommendations.
Maintains current knowledge of government regulations, laws and best practices to ensure compliance.
Participates in HR departmental goals, objectives, and projects to ensure an effective, sustainable, people strategy over the long-term.
Assists in evaluation of reports, decisions, and results of department in relation to established goals. Recommends new approaches, policies, and procedures to effect continual improvements in efficiency of department and services performed.
Participates in staff meetings and attends other meetings and seminars.
ADDITIONAL DUTIES AND RESONSIBILITIES
Recommends to supervisor possible methods to improve department.
Completes all required compliance exams on a yearly basis.
Adherence to all First United Policies and Procedures.
Performs other related duties as required and assigned.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions
Education and Work Experience
Bachelor’s degree in business administration or related field and five (5) to seven (7) years of Compensation experience, OR a master’s degree and three (3) years of experience in the field of Compensation.
Certified Compensation Professional (CCP) Certification strongly preferred.
Senior Professional in Human Resources (SPHR) or SHRM-SCP preferred.
Strong expertise in compensation plan design.
Considerable knowledge of employment law and regulations related to compensation.
Strong leadership skills, exhibits sound and ethical judgment.
Ability to maintain strict confidentiality guidelines.
Exceptional quantitative, analytical, data, and project management skills with a high degree of accuracy and attention to detail.
Exceptional customer service skills.
Strong computer skills including Microsoft Office applications, especially Excel.
Good problem-solving and decision making skills. Ability to make informed decisions based on limited fact and guidance.
Strong organizational and time management skills.
Strong interpersonal skills and ability to work well with a wide range of people.
Ability to communicate well by all means of communication including written, verbal, and non-verbal communication.
Dependable and adheres to time lines and schedules.
Takes initiative in development and completion of projects.
Able and willing to continue business skills and human resources development.
Willingness to accept additional responsibilities.
NOTE: This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned by supervisor to meet the ongoing needs of the organization.