Compensation Director is responsible for the design, implementation, and ongoing evaluation of the organization’s compensation programs, including base pay, incentive pay, and performance management programs. Works with senior management to ensure that compensation strategy and programs support the organization’s business objectives and meet all legal requirements. Being a Compensation Director develops compensation budget for assigned areas and manages budget after it is approved. May be responsible for entire organization or for one or more major segments of a larger organization. Additionally, Compensation Director requires a bachelor’s degree. Typically reports to top management. The Compensation Director manages a departmental sub-function within a broader departmental function. Creates functional strategies and specific objectives for the sub-function and develops budgets/policies/procedures to support the functional infrastructure. Deep knowledge of the managed sub-function and solid knowledge of the overall departmental function. To be a Compensation Director typically requires 5+ years of managerial experience.
Director, Compensation Job Description Template
Our company is looking for a Director, Compensation to join our team.
Responsibilities:
- Manage execution of compensation programs such as annual merit and performance review process, bonus, and equity programs;
- Ensure proper documentation and audit processes are developed, approved and followed;
- Consult with senior leadership regarding compensation program development and interpretation;
- Partner with the management team, consult and resolve compensation issues using creative and strategic approaches;
- Develops creative solutions to compensation-related challenges that balance business considerations with retention and engagement objectives;
- Monitors changes in the healthcare job market ensuring that the company is able to recruit, retain and reward top talent.
Requirements:
- Experience with designing and administering compensation and incentive plans;
- Strong quantitative and analytical skills;
- 8+ years of progressive experience in compensation. Experience within leading consulting firms is preferred;
- 8+ years of progressive experience in compensation. Experience within leading consulting firms is preferred;
- Excellent attention to detail, interpersonal communication, presentation, organization, decision-making, and planning skills;
- Excellent attention to detail, interpersonal communication, presentation, organization, decision-making, and planning skills;
- This position requires successful completion of a background check and employment verification.