Director of Compensation

Perry Ellis International•Miami, FL

11h

About The Position

The Director of Compensation is key in designing, implementing, and managing the organization's compensation programs. This position plays a crucial role in attracting, retaining, and motivating top talent by ensuring competitive and equitable compensation packages. The Compensation Director collaborates with HR leaders, finance, and other stakeholders to develop and execute comprehensive compensation strategies aligned with the company's objectives.

Requirements

Bachelor's degree in Human Resources, Business Administration, Finance, or related field; a Master's degree is a plus.
Proven experience (typically 10+ years) in compensation.
Strong understanding of compensation principles, salary structures, job analysis, and market pricing.
Familiarity with executive compensation programs and governance.
Knowledge of applicable labor laws, regulations, and compliance requirements related to compensation practices.
Analytical mindset with proficiency in data analysis and HR analytics tools.
Excellent communication and presentation skills to effectively communicate complex compensation concepts to diverse audiences.
Strong leadership and team management abilities.
Ability to work collaboratively across departments and influence decision-making at all levels of the organization.

Nice To Haves

Prior experience with PayFactors, a plus.

Responsibilities

Compensation Strategy Development: Develop and refine the organization's compensation strategy, ensuring it aligns with the company's overall business goals, market trends, and industry best practices. Provide recommendations on salary structures, bonus plans, and other incentives to attract and retain top talent.
Compensation Program Management: Oversee the administration, implementation, and continuous improvement of the compensation programs. This includes overseeing salary surveys, benchmarking, and job evaluation to ensure competitive pay practices and internal equity.
Job Analysis and Evaluation: Lead efforts to analyze job roles and responsibilities to determine their appropriate job level and salary range. Ensure job descriptions are accurate, up-to-date, and comply with relevant regulations.
Incentive and Bonus Plans: Collaborate with HR leadership and finance to design and manage performance-based incentive and bonus plans to drive high performance and reward key contributors effectively.
Market Research: Stay up-to-date with market trends, industry compensation benchmarks, and emerging practices to inform compensation strategies and decisions.
Compliance and Governance: Ensure that all compensation programs comply with relevant laws, regulations, and internal policies. Keep abreast of changes in legislation that may impact compensation practices.
Communication and Education: Communicate the company's compensation philosophy and programs to employees, managers, and executives. Conduct training and educational sessions to enhance understanding and support for compensation practices.
Performance Evaluation Integration: Collaborate with HR leadership to ensure that compensation programs are aligned with performance evaluation systems, reinforcing a performance-driven culture.
HR Analytics: Utilize data and analytics to assess the effectiveness and impact of compensation programs. Make data-driven recommendations for continuous improvement.
Vendor Management: Partner with external compensation consultants, software vendors, and other third-party providers to enhance compensation program effectiveness. Prior experience with PayFactors, a plus.