Compensation Manager leads the development, implementation, and administration of compensation programs, policies, and procedures. Manages common compensation functions, including survey participation, job evaluation, salary structure development, incentive plan design, pay program administration and other associated initiatives. Being a Compensation Manager ensures that base pay, incentive pay and performance management programs remain competitive and conform to current compensation strategy. Directs data collection and analysis processes for market, pay equity, and other compensation studies. Additionally, Compensation Manager requires a bachelor's degree. May require a Certified Compensation Professional (CCP) certification. Typically reports to a head of a unit/department. The Compensation Manager manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met and adhering to approved budgets. Has full authority for personnel actions. To be a Compensation Manager typically requires 5 years experience in the related area as an individual contributor. 1 - 3 years supervisory experience may be required. Extensive knowledge of the function and department processes. (Copyright 2024 Salary.com)
Position Summary
Under direct supervision of the Human Resources Director, supervises, administers and coordinates the compensation functions for all business entities. Has primary responsibility for assisting enterprise directors/managers in people planning. Provides expert resource backup for managers during department reviews and/or reorganization proposals. Administers the merit increase portion of the Performance Appraisal program. Responsible for monitoring and recommending wage increases as a result of local market data.
As a member of the management team, directly supports the strategic planning and budgeting processes for HR. Responsible for developing and coaching direct reports.
Supervision Exercised
Reports to the Human Resources Director.
Major Duties and Responsibilities
Secondary Duties and Responsibilities
Knowledge, Skills and Abilities
Minimum Qualifications, Education and Experience
Required:
Licensing Status
Working Conditions