Compensation Manager Job Description
Compensation manager
provides compensation consulting and detailed analysis on all aspects of compensation programs, including base salary, equity and incentive programs.
Compensation Manager Duties & Responsibilities
To write an effective compensation manager job description, begin by listing detailed duties, responsibilities and expectations. We have included compensation manager job description templates that you can modify and use.
Sample responsibilities for this position include:
Research and implement competitive pay practices best practices and trends in sales compensation
Leads benchmarking of compensation, which includes strategy and methodology, survey selection and special studies and remains informed of market trends
Whilst not directly accountable for our UK Associate benefits, ensures that our Total reward strategy is in line with Corporate philosophy and market trends, partners with UK Benefits and International total rewards teams to influence and implement changes
Participate in salary and compensation surveys, analyzing results, trends and evaluate company’s market competitiveness
Conduct research, analysis and reports on market competitiveness and makes recommendations on best practices
Deliver process excellence by facilitating standardization of compensation processes and systems, leveraging best practices at the regional and global level
Provide thought leadership and influence when adjustment to design/approach may be warranted to remain ahead of emerging trends
Partner with leadership / HRBP’s to ensure coordination and proactive consideration on issues related to overall compensation strategy and operations
Partner with business leaders, develop and implement pay strategy to address workforce challenges such as attrition, hot skills, internal equity, start rates, job leveling and market competitiveness
Leads mid-year and year-end compensation processes – consulting with the business and HRCs on utilization of pay programs
Compensation Manager Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Compensation Manager
List any licenses or certifications required by the position: CCP, PHR, SPHR, SHRM, GRP, CEBS, CIPD, CEP, CFA, FEMA
Education for Compensation Manager
Typically a job would require a certain level of education.
Employers hiring for the compensation manager job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Master's Degree in Human Resources, Business, Finance, Business/Administration, Education, Accounting, Economics, Management, MBA, Human Resource Management
Skills for Compensation Manager
Desired skills for compensation manager include:
Workers’ Compensation claims management related laws and medical and legal terminology
Federal
Microsoft Excel
Excel
Trends
Best practices
Government regulations as they apply to compensation base and incentive compensation programs
Operations
State
Desired experience for compensation manager includes:
Collaborates with executive recruiters to model and develop competitive offer packages for external executive hires
Collaborates with Int’l Total Rewards team on cross border transfers
Directs administration team on implementation strategy and policy/plan changes for annual open enrollment and physical exam events Conducts regular claims utilization review and implements annual plan for driving down company and associates costs through education, communication and plan design initiatives
Minimum of 10 years progressive Human Resources experience with increasing levels of responsibility, identifying, consulting, designing, recommending and implementing efficient, innovative business solutions to clients' challenges
Leads a team of HR professionals, providing leadership, direction and development
Analysis and development of compensation programs and guidelines
Compensation Manager Examples
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Compensation Manager Job Description
Job Description Example
Our company is looking for a compensation manager. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for compensation manager
- Conduct 401(k) Investment and administrative committee meetings, and implement changes to 401(k) plan arise as a result of these meetings
- Calculate eligibility data for ADP non-discrimination testing each year
- Run bi-weekly 401(k) wire transfer report to verify the amounts withheld from employee’s check and liase with finance and Merrill Lynch to facilitate payments
- Implement Benefit Plans and Pension Schemes for overseas offices
- Leads the implementation of the new Oracle, “manager self-service”, compensation portal
- Analyze situations or data related to the attraction and retention of talent
- Provide leadership in completing projects
- Manage the application of the company’s universal job description system
- Lead compensation activities for sales, marketing and investment teams
- Ability to interpret and provide insights of the analysis and present to leadership in a concise and effective manner to influence decision making
Qualifications for compensation manager
- Previous computer programming or Microsoft VBA experience is a plus
- Must be able to work in a fast-paced, dynamic environment with changing priorities
- Experience with salary benchmarking, Mercer system
- Provide HR and management with compensation information, analysis and recommendations
- Participate in area and industry surveys
- Assist with importing survey results into survey database
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Compensation Manager Job Description
Job Description Example
Our growing company is hiring for a compensation manager. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for compensation manager
- Plans, organizes, staffs, directs the day-to-day operations of the department
- Promote cross-functional work and partner with other functional areas (Finance Operations, Marketing, Sales channels, Commercial strategy, Compensation execution, HR, IT) to steer processes around implementation and governance of the channel compensation plans (holistic end to end view)
- Oversee the 401(k) audit in conjunction with external auditors
- Recommend third party administrators, outside consultants and vendors related to areas of responsibility
- Focus on delivery of quality, value-added services in a professional, cost effective and timely manner
- Participate in the Quarterly Investment Committee meeting(s)
- Conduct benchmarking to ensure competitiveness
- Develop and oversee the implementation of a sales compensation program that aligns with the overall Total Rewards package which competitively positions the company in the US while achieving the desired employee outcomes/retention to meet longer-term goals
- Evaluate and adjust the company’s Job Families / Job Leveling to align towards compensation structure globally, as needed
- Conduct annual compensation benchmarking and consult with leadership to make recommendations to ensure the strategic alignment of compensation programs to global and local strategic direction
Qualifications for compensation manager
- Minimum of 5 years of varied Human Resources experience, including compensation and benefits administration
- Ability to communicate complex topics to diverse workforce through multiple channels
- Previous experience with Companalyst and Cornerstone desired
- Strong analytical skills and a proven ability to identify and resolve issues
- Strong verbal and written communication skills, ability to interpret contractual language into easily understandable text
- Self-directed with the ability to work independently with groups
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Compensation Manager Job Description
Job Description Example
Our innovative and growing company is looking for a compensation manager. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for compensation manager
- Monitors the effectiveness of existing compensation policies, guidelines and programs, and recommends plan revisions new plans that are consistent with compensation trends and Company objectives
- Controls the day-to-day operations of the department
- Prepare special studies and recommendations on subjects such as incentive compensation, sales compensation or equity awards
- Leverage business and functional knowledge to manage out of cycle compensation adjustments
- Assist with preparation of proxy CD&A and market analysis for senior management and Compensation Committee
- Develop a comprehensive understanding of business issues and priorities
- Manage core compensation processes
- Compile, create, and summarize/analyze information (including survey results, market data, ) clearly and concisely to guide fact-based decisions
- Manage variable compensation programs.Recommend revisions to plans and policies to remain competitive in the market while balancing cost effectiveness
- Lead and drive compensation projects such as
Qualifications for compensation manager
- Previous experience HRIS systems such as SAP/Success Factors systems preferred
- Advanced degree and/or designation as a Certified Compensation Professional (CCP)
- Strong verbal and written communication skills, strong interpersonal, consulting, and project management skills necessary
- Broad knowledge of compensation practices across Americas
- Must be self-directed, able to meet deadlines, work independently, work in a team-oriented, professional, and fast paced environment
- Bachelors in Business Administration, or Human Resources
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Compensation Manager Job Description
Job Description Example
Our growing company is looking for a compensation manager. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for compensation manager
- Analyze results of surveys and develops specific recommendations for review by firm leadership
- Manage one compensation analyst
- Collaborate with the firm’s HR, Legal, Application Support and Finance teams
- Oversee market studies and participation in global compensation surveys
- Lead company-wide compensation processes
- Manage the development and implementation of policies, processes, structures, guidelines and programs for Compensation across the organization
- This position is a subject matter expert for wage and hour laws and drives compliance across all compensation programs
- Develops recommendations for design changes to compensation programs, such as competitive pay, variable compensation, hourly compensation programs to address market competitiveness and wage and hour law
- Lead review, design and development of the variable part in channel compensation plans
- Measure performance by conducting regular and ad-hoc analysis on effectiveness of channel compensation plans and provide analytics/insights/formulate recommendations to better allocate investments in the compensation plans
Qualifications for compensation manager
- Strong project management experience – ability to navigate across business units in a large organization
- Strong analytical and problem solving skills – ability to manage day to day assignments large strategic initiatives
- Ability to understand and summarize data, and provide recommendations to management
- Strong presentation skills – ability to deliver information in a clear and concise manner
- Global annual salary budgets
- Ability to influence and advise effectively (written and verbal) with both associates and managers
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Compensation Manager Job Description
Job Description Example
Our growing company is looking to fill the role of compensation manager. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for compensation manager
- Identifies potential compensation issues which affect projects and operations or cause substantial expenditure of cost, human resources and funds
- Manages a small team
- Develops and executes a comprehensive communication strategy for total reward programs and identifies opportunities to better enable the company to improve employee engagement, facilitate proactive and effective messaging and cadence support the organizations growth and strategic plan
- Applies job evaluation techniques in support of establishing competitive and equitable compensation levels based upon the compilation of internal and external information
- Oversees annual projects such as the pay equity study, merit process and salary budgeting, and communicate results to management
- Responsible for selection and success of the market pricing system/surveys used to conduct internal/external job analysis
- Liaisons with HRIS team in design and implementation of new HR software initiatives, upgrades and fixes to existing tools
- Reviews and analyzes data, prepare summary reports and present findings to the Director, Global Compensation and other Executive Leaders
- Compile the department budget and provide quarterly updates to Finance
- Prepares calculations for merit and bonus distribution
Qualifications for compensation manager
- Experience leading and or developing other associates preferred
- Advanced knowledge with computer based applications, Microsoft Office desired
- Specific knowledge of HRIS systems
- Bachelor’s degree in Business, HR or related field with a minimum of 10+ years relevant experience and competence in all aspects of analysis and management of broad-based compensation programs
- Demonstrated verbal and written communication skills, strong analytical, statistical and presentation skills
- Requires full knowledge of compensation and working knowledge of another functional area