The Rewards Executive is responsible for shaping and leading the reward strategy of the organization to attract, retain, engage, and motivate employees, as well as advising business leaders on the best practices for total reward processes.
Contents
Role family, salary range & work experience
Key responsibilities
Skills & competencies
Job description template
Detailed responsibilities & tasks
KPIs for this role
Training programs
Role family, salary range & work experience
- HR Role family: Strategist
- Salary range: $146,000 – 179,000
- Work experience: 12+ years
Key responsibilities
- Develop and lead the Company’s comprehensive strategy for Total Rewards using compelling and equitable compensation and benefits programs aimed at attracting and retaining world-class talent in a competitive environment and across multi-disciplines
- Provide strategic direction, planning, and requirements to execute the design, implementation, communication, and administration of the company’s compensation programs; including annual short- and long-term incentives and executive compensation
- Continuously evaluate the effectiveness of our rewards programs to ensure they are aligned with our business and talent strategies and monitor market trends to make recommendations for changes, as appropriate HR decisions.
Skills & competencies
- Analytics Translation
- Commercial Fluency
- Customer Understanding
- Data Driven
- Digital Aptitude
- Problem Solving
- Risk Mitigation & Ethics
- Technology Empowered
Job description template
The Director of Total Rewards is responsible for designing, implementing, and managing our total rewards programs globally. This includes compensation, benefits, equity, and recognition programs.
Key Responsibilities:
- Develop and implement global total rewards strategies that align with the organization’s goals and objectives.
- Lead the design, implementation, and management of the compensation and benefits programs, including executive compensation, base salary, variable pay, and equity plans.
- Ensure that the total rewards programs comply with all relevant laws, regulations, and company policies.
- Evaluate the effectiveness of the total rewards programs and make recommendations for improvements.
- Manage vendor relationships and negotiate contracts with external partners.
- Develop and implement recognition programs to drive employee engagement and retention.
- Work closely with HR business partners and other stakeholders to ensure that total rewards programs are integrated into broader HR and business strategies.
- Develop and deliver communications and training on total rewards programs to employees, managers, and other stakeholders.
Requirements:
- Bachelor’s degree in HR, business, or related field; advanced degree preferred.
- 10+ years of experience in compensation and benefits, with at least 5 years of experience in a leadership role.
- Deep knowledge of compensation and benefits best practices, trends, and regulations.
- Experience managing executive compensation and equity plans.
- Strong project management skills, with the ability to lead cross-functional teams and prioritize competing demands.
- Excellent communication and interpersonal skills, with the ability to communicate complex ideas clearly and influence stakeholders at all levels.
- Strong analytical and problem-solving skills, with the ability to use data to drive decisions
Detailed responsibilities & tasks
- Develop and implement global total rewards strategies that align with the organization’s goals and objectives.
- Lead the design, implementation, and management of the compensation and benefits programs, including executive compensation, base salary, variable pay, and equity plans.
- Ensure that the total rewards programs comply with all relevant laws, regulations, and company policies.
- Evaluate the effectiveness of the total rewards programs and make recommendations for improvements.
- Manage vendor relationships and negotiate contracts with external partners.
- Develop and implement recognition programs to drive employee engagement and retention.
- Work closely with HR business partners and other stakeholders to ensure that total rewards programs are integrated into broader HR and business strategies.
- Develop and deliver communications and training on total rewards programs to employees, managers, and other stakeholders.
Detailed skills description
- Strategic thinking: The Director of Total Rewards should be able to think strategically and develop a long-term vision for the organization’s compensation and benefits programs. They should be able to align these programs with the company’s overall business strategy and objectives.
- Analytical skills: The Director of Total Rewards must have strong analytical skills to evaluate compensation data and develop effective programs. They should be able to gather and analyze data on employee compensation, benefits, and related costs to inform program design and decision-making.
- Communication skills: The Director of Total Rewards must have excellent communication skills, both written and verbal. They should be able to communicate complex information about compensation and benefits programs to a wide range of stakeholders, including executives, managers, and employees.
- Leadership skills: The Director of Total Rewards must have strong leadership skills and be able to manage a team of compensation and benefits professionals effectively. They should be able to set clear goals, provide guidance and support to team members, and foster a collaborative work environment.
- Knowledge of compensation and benefits: The Director of Total Rewards should have in-depth knowledge of compensation and benefits practices, trends, and regulations. They should be familiar with a range of compensation and benefits programs, including base pay, incentives, benefits, and perquisites.
- Change management: The Director of Total Rewards should have experience managing change and be able to implement new compensation and benefits programs effectively. They should be able to identify potential barriers to change and develop strategies to overcome them.
- Technical proficiency: The Director of Total Rewards should be proficient in the use of compensation and benefits software and tools. They should be able to analyze and manipulate data using spreadsheets, databases, and other software tools.
- Collaboration skills: The Director of Total Rewards should have excellent collaboration skills and be able to work effectively with other departments, such as finance, legal, and IT, to design and implement compensation and benefits programs that align with organizational goals and objectives
KPIs for this role
- Compensation competitiveness: The Director of Total Rewards must ensure that the organization’s compensation package is competitive in the industry and the job market to attract and retain top talent.
- Benefits administration: The Director of Total Rewards must ensure that the benefits program is administered accurately and efficiently to provide employees with a positive experience.
- Employee engagement: The Director of Total Rewards must ensure that the organization’s compensation and benefits programs are aligned with the company’s culture and values, contributing to employee satisfaction and engagement.
- Regulatory compliance: The Director of Total Rewards must ensure that the organization’s compensation and benefits programs comply with all applicable laws and regulations.
- Cost management: The Director of Total Rewards must manage the costs associated with the organization’s compensation and benefits programs while ensuring that they remain competitive.
- Program evaluation: The Director of Total Rewards must regularly evaluate the effectiveness of the organization’s compensation and benefits programs to identify areas for improvement and ensure that they are meeting the needs of employees and the business.
- Data analysis: The Director of Total Rewards must analyze data related to compensation and benefits to make informed decisions and recommendations.
- Collaboration: The Director of Total Rewards must collaborate with other HR leaders and business leaders to ensure that the compensation and benefits programs align with the overall business strategy and goals.
- Talent acquisition and retention: The Director of Total Rewards must ensure that the compensation and benefits programs attract top talent and retain existing employees.
- Communication: The Director of Total Rewards must effectively communicate the compensation and benefits programs to employees to ensure that they understand the value of their total rewards package.
Training programs
- HR Manager Certificate Program
- People Analytics Certificate Program
- Compensation & Benefits Certificate Program
- HR Business Partner 2.0 Certificate Program
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