Manager of Compensation

About the position

The Manager of Compensation will be responsible for developing, implementing, and managing the company's compensation strategies and programs. This role requires a deep understanding of incentive compensation, industry's best practices and applicable federal and state laws. The ideal candidate will work closely with Finance, HR leaders, Legal, Operations, and senior management to ensure that our compensation practices are compliant and align with our business objectives and promote a culture of fairness and equity.

Responsibilities

• Design, implement, and manage variable compensation programs related to commission, bonuses, and incentive plans, ensuring alignment with business goals, legal requirements and industry standards.
• Conduct regular market analysis to ensure competitive pay structures and practices, making recommendations for adjustments as needed.
• Collaborate with Finance, HR, Legal, Operations and other business leaders to assess compensation needs and provide guidance on variable compensation related issues.
• Monitor and analyze the effectiveness of compensation programs, making data-driven recommendations to enhance employee performance, engagement and retention.
• Draft and maintain compensation plans and lead communication efforts regarding compensation policies and programs to ensure understanding and transparency among employees.
• Stay informed on industry trends, legislation, and best practices in compensation management, continuously ensuring compliance of the compensation programs and seeking opportunities for improvement.

Requirements

• 5+ years of experience in compensation management, with a focus on incentive compensation.
• Strong analytical skills with the ability to interpret data and make strategic recommendations.
• Excellent communication and interpersonal skills, with the ability to effectively present information to various stakeholders.
• Proven ability to manage multiple projects and priorities in a fast-paced environment.
• Knowledge of compensation software and HRIS systems.
• Familiarity with federal and state compensation regulations and compliance requirements.

Nice-to-haves

• Advanced degree or certification in compensation management (CCP) preferred.