This Compensation Director role will develop and support key compensation projects and initiatives for the Life Science Solutions Group (LSG) including the Annual Total Compensation Planning process, internal and external market analysis and salary and bonus target ranges. As a key member of the global compensation team, this role will have accountability for wide ranging compensation activities across the group focusing on Operations and Direct Labor initiatives. Working collaboratively with both the business and HR, the candidate will be required to understand specific business needs and have responsibility for the delivery of well-considered compensation solutions and processes. These global strategic initiatives for LSG represent key components of the Company’s Human Resource Management process and thus, have tremendous visibility to employees at all levels of the organization.
The successful candidate will have excellent hands-on project and change management experience, strong analytical skills and a broad understanding of compensation practices, policies and processes.
Lead the design and administration of the company’s compensation programs, in line with the corporate global principles and structures, including base pay management, incentive and other variable comp plans under the direction of the Compensation Sr. Director. Evaluate competitive practices, assess the company’s position to market, and make recommendations to ensure that these plans are cost competitive and support the company’s mission, values, and achievement of business objectives for the assigned Divisions/Functions.
Develop, maintain and interpret policies and procedures related to compensation programs. Assist site personnel in interpreting these policies.
Partner with HR staff across the business to ensure employee understanding of salary administration, incentive, and equity programs and performance management through training programs and regular communications. Develop specific communications plans that supplement those provided from the corporate office.
Leads the development and implementation of the Life Science Solutions Group (LSG) annual total compensation process for assigned organizations in close coordination with functional leaders, divisional human resource teams, and managers.
Acts as a project leader on various compensation projects and performs other duties and support as assigned by the Compensation Sr. Director. Support wider projects within the HR function, particularly in the area of process and system improvements.
Assist with Merger and Acquisition activity impacting the business, including the compensation integration of newly acquired companies, or assistance with Due Diligence reviews of potential targets.
Represents and promotes Thermo Fisher Scientific and its core values (Integrity, Intensity, Innovation, Involvement) in total rewards seminars, compensation functions and during all contact with internal partners and external vendors.
Nature and Scope:
This position interacts with varying levels of personnel requiring the ability to influence and clearly communicate verbally and in writing the Company’s compensation policies and programs and the interpretation of them. Effectiveness in this role requires a functional knowledge of corporate operations and product line as well as a full understanding of HR practices. The incumbent determines own practices and procedures and contributes to the development of new concepts. Decisions are made within global policy constraints; proposed solutions are expected to be both creative and practical.
Job encounters problems of diverse scope and high complexity. Accuracy is required in performing all functions of this position; mistakes in work could cause significant data errors and financial loss.
Bachelor's degree in Business Administration, Human Resources, Finance, Sciences or other related discipline, or the equivalent knowledge and experience is required.
Professional certification preferred and experience designing and administering compensation programs is essential.
10-15 years of total work experience with 5-7 years of compensation or relevant experience in a related field
Compensation experience with Direct Labor/Operations environments
High levels of analytical skills required, together with goal accomplishment orientation. Must be results driven, detail oriented, highly energetic, service oriented team player who can function effectively and independently in a fast paced dynamic environment.
Working knowledge of HRIS systems
High levels of computer literacy required, including spreadsheet, word processing and HRIS applications.