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Compensation Manager - Le Mars, United States - Wells Enterprises
Description
Utilizes the Compensation Philosophy in development and application of compensation programs to enable achievement of business strategies. Assists the Director of TR with the designs, development and oversight of the executive compensation programs.Coordinates work with the Compensation Committee as well as internal Compensation Committee for non-executive compensation programs to ensure adherence to company compensation philosophy as well as applicable laws and regulations.
Ensures the compensation programs enhance the company's ability to recruit and retain talent.Along with the Director of TR, develops the strategically focused planning, design, and evaluation of all corporate compensation programs including base pay, job evaluation, pay structures, performance-based increase programs, job documentation, market pricing, recognition, short-term incentive, and total cash compensation programs
Manages the administration of compensation and selected executive programs including base pay management, short-term incentives, and long-term incentives, and executive perquisites; coordinates executive compensation activities based on the board-appointed Compensation Committee's directives.
Develops and maintains guidelines and policies for compensation programs; provides recommendations for the effective interface of compensation with performance management and human resource programs; ensures communication to HR generalists, HR business partners and other and business unit leaders.
Manage annual salary adjustments and merit increases as needed, through evaluation of the market pay for positions.Supports data and information needs by overseeing the preparation of statistical and special reports from the HRIS system involving skills, paygrades, performance data, and other employee records as needed.
Serves as project manager for key compensation initiatives and coordinates with compensation and HRMS staff to ensure effective implementation of compensation policies and programs.
Coordinates the sales compensation governance committee and provides expertise and administrative support to committee members in the oversight and administration of sales compensation and sales incentive programs, including SPIFFs, prizes, incentive and base pay.
Manages multiple compensation projects in order to implement strategic initiatives for total reward programs by selecting and managing vendors, brokers and consultants, developing and monitoring budgets, manages HR service partner contracts, develops compensation strategies, works with legal counsel to ensure compliance with applicable laws and regulations; ensures appropriate communications through HR generalists and business unit leaders.
Directs the design and development of compensation communication strategies and programs to enable employee understanding of compensation programs and their relationship to business strategy.
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In addition to the responsibilities listed above, other duties may be assigned by your supervisor, as dictated by business necessity.
Bachelors Degree required, CCP Certification a plus.5-7 years of compensation experience including exposure to sales compensation programs, annual incentive plans, long-term incentive plans and executive compensation.
Benefits plan design and/or administration experience a plusKnowledge - Compensation theory and practice. Laws and regulations pertaining to compensation, ERISA and non-qualified employee benefits. Total compensation concepts including base pay, total cash compensation, incentive pay, sales compensation, and linkage to performance.
Skills - Quantitative and spreadsheet skills as related to utilizing Excel. Excellent written and verbal communication skills.
Abilities - Ability to manage and develop compensation and benefit professionals. Ability to evaluate and develop total reward philosophies that support corporate business strategies. Ability to communicate verbally before groups, including executive level audiences, in an effective manner.
Reports to Director of Total Rewards * Direct Reports - * Indirect Reports - Works indirectly through matrix reporting relationship with other HR staff and business unit leaders
Wells Enterprises is an EEO/AA employer M/F/Vet/Dis
