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:
The role is responsible for all aspects of compensation, both in the retail stores & store support center for EG America. Oversees base salary and incentive programs, job evaluations, and salary survey participation and procurement. Conducts market analysis of company jobs to determine competitive positioning of the organization's pay programs. Participates in annual salary administration programs, including salary structure creation and maintenance and development of incentive or salary increase budgets. Ensures that all compensation-related activities comply with applicable regulations and standards.
Responsibilities:
1. Serve as subject matter expert and provide day-to-day compensation support.
2. Collaborate and partner with Leadership Support Team, HR Business Partners & Talent Acquisition on pay decisions.
3. Manage the mid-year and year-end compensation process in alignment with the performance evaluation process using compensation modeling, data analytics and benchmarking.
4. Develop and track compensation reporting metrics and communicate actionable insights to Leadership Support Team.
5. Administer and participate in salary surveys and monitor salary survey data to ensure competitiveness.
6. Design and deliver compensation communication to managers and employees.
7. Ensure compliance with federal, state, and local compensation laws.
8. Manage long-term and short-term store support incentive plans.
9. Collaborate with Finance on retail store incentive plans.
10. Collaborate with Legal on acquisition and divestment activities.
11. Manage the annual expense budgeting and forecasting process for the Human Resources department.
Working Relationships: All levels of management across the organization
Minimum Education:
Bachelor’s degree or equivalent experience in Finance, Human Resources or related field
Preferred Education:
Master’s degree or equivalent experience in Finance, Human Resources or related field
Minimum Experience:
2-4 years in Finance or Human Resources with strong analytic duties
Preferred Experience:
4-6 years in Finance or Human Resources with strong analytic duties
Licenses/Certifications:
Strong computer skills. Advanced level skill set with Microsoft Excel
Soft Skills:
Physical Requirement:
Ability to stand/walk/ sit as needed during work day
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