The Director of Compensation will lead the strategy, design, and implementation of the company’s broad-based compensation programs. This role is critical to ensuring the manufacturer remains competitive in the market, aligning compensation strategies with business objectives, and promoting fairness and consistency across the organization. The Director will collaborate with HR leadership, department heads, and external partners to develop and execute compensation policies and practices that support a performance-driven culture.
Key Responsibilities:
- Develop & Execute Compensation Strategy: Lead the development and implementation of broad-based compensation programs, including salary structures, job evaluations, merit increases, and market analysis.
- Market Benchmarking: Conduct regular compensation benchmarking and market analyses to ensure competitiveness within the manufacturing industry and across relevant markets.
- Job Evaluation & Salary Structures: Oversee job analysis and evaluations to ensure internal equity and consistency across the organization. Regularly update salary structures to reflect market trends and organizational needs.
- Compensation Policies: Develop and maintain compensation-related policies, guidelines, and procedures to ensure they are compliant with regulatory standards and aligned with company objectives.
- Annual Compensation Planning: Lead the annual salary review process, including salary budgeting, merit increases, promotions, and adjustments, ensuring alignment with performance and financial goals.
- Compensation Analytics: Provide detailed reports, analysis, and recommendations on compensation metrics to senior leadership, utilizing data to drive decisions.
- Compliance & Risk Management: Ensure that all compensation programs comply with local, state, and federal regulations, particularly those affecting the manufacturing industry (e.g., FLSA, equal pay laws).
- Stakeholder Collaboration: Work closely with HR, Finance, and department heads to provide guidance on compensation-related matters and support business objectives.
- Continuous Improvement: Continuously assess and refine compensation programs to ensure they attract, retain, and motivate top talent while managing costs effectively.
Qualifications:
- Bachelor’s degree in Human Resources, Business Administration, or related field (Master’s preferred).
- 10+ years of experience in compensation management, with a strong focus on broad-based compensation.
- 5+ of people management experience
- Experience working in the manufacturing industry
- Deep knowledge of compensation frameworks, job evaluation methods, and regulatory requirements.
- Proven experience in compensation benchmarking, analysis, and program design.
- Strong analytical skills with the ability to interpret complex data and make sound recommendations.
- Excellent communication and leadership skills, with a demonstrated ability to influence stakeholders at all levels.
- Proficiency with compensation management tools and systems.