Title: Principal Manager, Compensation
Location: Rosemead, California
Company: A generator and distributor of electric power and an investor in infrastructure and energy assets, including renewable energy
Key Responsibilities: The Principal Manager will part of a newly designed Compensation Division in Human Resources with our client. The successful candidate will plan, design, evaluate and administer broad based executive and non-executive compensation programs, such as compensation planning and administration, job evaluation, stock plans and short-term incentive and bonus plan designs in support of our client’s goals, strategies and plans. The successful candidate will conduct analysis of market salary data, market trends, federal and state regulations and our client’s company policies and agreements with collective bargaining units. In addition this individual will be responsible for the following:
- Manage all tasks necessary for the successful rollout of a newly designed non- executive compensation program, ensuring compliance with applicable state and federal regulations.
- Prepare and disseminate reports and updates to management and executives. Request management approval on design, as necessary.
- Plan, direct and control the design of all broad based executive and non-executive compensation programs for employees of the Company, partnering with organizational units and all Human Resource (HR) functional areas, as applicable, to ensure alignment with business strategies and short- and long-term goals.
- Develop three to five year strategic roadmap that aligns with the Company’s overall total rewards and talent objectives as well as the new compensation program. Lead the strategic assessment of the compensation strategies and position leveling, with the goal of designing a more competitive organization and rationalizing levels where appropriate. Develop individual incentive programs that align with business unit and corporate objectives, as necessary.
- Settle the team into the new organizational structure, which for the first time combines executive and non-executive compensation.
- Align staff into appropriate roles and opportunities. Create strategy for employee development and elimination of single points of failure, with frequent updates to management.
- Partner with the HR team and lead transition to the new operating model.
- Build Center of Excellence (COE) operational capabilities: Monitor the effectiveness of existing compensation policies, guidelines and procedures recommending revisions as well as new approaches, ways to gain efficiencies and improve cost effectiveness.
- Create and implement plans to optimize existing processes and procedures as well as creating new ones when necessary. Harmonize executive and non-executive methodologies as applicable.
- Clearly define roles and responsibilities between COE and business unit embedded matrixed staff. Monitor and report on progress frequently.
- Direct the execution of key processes including job evaluations and analysis, survey participation and the administration of compensation programs (e.g., Base Pay, Incentive Pay, Stock Plans, Cash and Non-Cash Recognition Programs).
- Evaluate technology and Human Resource Information System (HRIS) requirements to support administration of compensation programs, develops recommendations and gains approval for modifications to infrastructure. Work with HRIS and IT to make changes as needed.
- Ensures effective and timely communication of compensation policies and programs to all stakeholders.
- Ensures organizational unit compensation leads are communicating effectively with the Strategic Business Partners and organizational units, as appropriate, which includes education and training on compensation philosophy, policies, programs and processes.
- Provides strategic consulting to organizational units and Company executives on complex, Company-wide compensation issues. Leverages professional relationships to benchmark best practice organizations to ensure externally competitive compensation programs.
- Ten to fifteen years of progressive “hands on” experience in executive and non-executive compensation design and program administration, advising diverse clients on full range of compensation program design. Ideally, have at least five years within Compensation Consulting.
- Five years experience acting as a thought leader and business partner to business line leaders, developing strong lines of communication, trust, and partnership across the organization. Experience presenting to C-suite and BOD is preferred.
- Ten years experience leading multi-layered compensation team of at least five and leading initiatives within a highly-complex, matrixed company with at least 5,000 employees. While not required, preference for individuals with experience in a highly regulated environment and/or union experience.
- Designed and managed enterprise-wide compensation programs (e.g., Base Pay, Incentive Pay, Cash and Non-Cash Recognition Programs) across multiple industries. Experience conducting market pricing activities on internal and external compensation data is preferred.
- Demonstrated ability to drive change, with at least one example of leading a significant change within an organization resulting in defined improvements.
- Influenced and consulted with Sr. Management and HR Business Partners regarding compensation structure during company realignments and/or expansions to achieve business objectives.
- Ability to navigate and work across multiple constituents to develop, communicate and support company’s short-term and long-term business objectives.
- Track record of attracting, hiring, developing, and retaining “A” talent. Recognized as a leader who motivates, develops, and creates camaraderie throughout the organization.
- Must be “hands-on” and willing to get deeply involved in all aspects of projects or initiatives. Must interject him or herself in work tasks, proactively and whenever necessary.
- Must demonstrate the ability to integrate work across relevant areas, develop the business and services to enhance customer satisfaction and productivity, manage risks appropriately, develop and execute business plans, manage information, and provide exceptional service to internal and external customers.
- Ability to stay current with relevant technology and innovation.
- Strong knowledge of HRIS software packages, with experience with Taleo and SAP preferred.
- Bachelor’s Degree in Business, Human Resources, Management or related field, a Masters Degree is preferred.
- Senior Professional in Human Resources (SPHR) or Certified Compensation Professional Certification (CCP) is preferred.
Compensation: The selected candidate will receive an attractive compensation package consisting of base salary, bonus along with a comprehensive benefits plan.