Compensation Manager leads the development, implementation, and administration of compensation programs, policies, and procedures. Manages common compensation functions, including survey participation, job evaluation, salary structure development, incentive plan design, pay program administration and other associated initiatives. Being a Compensation Manager ensures that base pay, incentive pay and performance management programs remain competitive and conform to current compensation strategy. Directs data collection and analysis processes for market, pay equity, and other compensation studies. Additionally, Compensation Manager requires a bachelor's degree. May require a Certified Compensation Professional (CCP) certification. Typically reports to a head of a unit/department. The Compensation Manager manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met and adhering to approved budgets. Has full authority for personnel actions. To be a Compensation Manager typically requires 5 years experience in the related area as an individual contributor. 1 - 3 years supervisory experience may be required. Extensive knowledge of the function and department processes. (Copyright 2024 Salary.com)
Our Vision:
Erlanger is a nationally-acclaimed health system anchored by a leading academic medical center. As such we will deliver the highest quality, to diverse populations, at the lowest cost, through personalized patient experiences across all patient access points. Through innovation and growth, we will sustain our success and spark economic development across the Chattanooga region.
Our Core Values:
Excellence - We distinguish ourselves and the services we provide by our commitment to excellence, demonstrating our results in measurable ways.
Respect - We pay attention to others, listening carefully, and responding in ways that demonstrate our understanding and concern.
Leadership - We differentiate ourselves by our actions, earning respect from those we lead through innovation and performance.
Accountability - We are responsible for our words and our actions. We strive to fulfill all of our promises and to meet the expectations of those who trust us for their care.
Nurturing - We encourage growth and development for our staff, students, faculty and everyone we serve.
Generosity - We are giving people. We give our time, talent and resources to benefit others.
Ethics - We earn the trust by holding ourselves to the highest standards of integrity and professional conduct.
Recognition - We value achievement and acknowledge and celebrate the accomplishments of our team and recognize the contributions of those who support our mission.
Job Summary:
The compensation manager is responsible for managing the compensation function for corporate staff departments. The compensation manager plans, develops and implements new and revised compensation programs, policies and procedures to align with the company's goals and competitive practices. This position is also responsible for ensuring that company compensation programs are consistently administered in compliance with internal policies and government regulations.
Education and Experience:
Required:
· Bachelor's degree or equivalent in business, human resources or related field and six years of progressively responsible experience in employee compensation
· At least one year of experience managing subordinates.
· Knowledge of laws and regulations as they apply to base compensation and incentive compensation programs, company policies, and operations.
Preferred:
· SHRM Certified Professional (SHRM-CP) or Senior Certified Professional (SHRM-SCP) and certified compensation professional credentials preferred.
Department Position Summary:
Duties/Responsibilities:
· Manages the development, implementation and administration of compensation programs.
· Monitors the effectiveness of existing compensation practices and recommends changes that are cost-effective and consistent with compensation trends and corporate objectives.
· Provides advice to corporate staff on pay decisions, policy interpretations, and job evaluations.
· Designs creative solutions to specific compensation-related programs and incentive plans.
· Develops techniques for compiling, preparing and presenting data.
· Oversees the participation in salary surveys and monitors salary survey data to ensure corporate compensation objectives are achieved.
· Ensures compliance with federal, state and local compensation laws and regulations.
Required Skills/Abilities:
· Knowledge of all federal, state and local regulations and compliance requirements related to employee compensation.
· Strong analytical skills and ability to interpret and communicate data.
· Computer proficiency and technical aptitude with the ability to use Microsoft products, including Excel.
· Strong leadership and team management skills.
· Excellent time management skills and ability to plan and set priorities.
· Excellent verbal and written communication skills.
· Strong interpersonal skills in dealing with senior management.
Supervisory Responsibilities: