What is a Compensation & Total Rewards Manager doing? Job description and responsibilities

What does a Compensation & Total Rewards Manager do?

The Compensation & Total Rewards Manager is responsible for administering the company's compensation and total rewards policies, programs, and practices. This position will work closely with the HR team to ensure that total rewards strategies are aligned with the organization's goals and objectives while ensuring compliance with applicable laws and regulations. The ideal candidate will have extensive experience in compensation and total rewards, strong analytics, and excellent communication skills. The Compensation & Total Rewards Manager will be a strategic partner who is able to develop creative solutions to meet organizational objectives.

Responsibilities of Compensation & Total Rewards Manager

1. Design, develop and manage total rewards programs, policies and procedures to ensure that they are competitive, compliant and cost effective.

2. Lead and manage the implementation of salary and bonus structures, job evaluation processes and other compensation related activities.

3. Develop and execute total rewards strategies to ensure that the organization is able to attract, retain and motivate top talent.

4. Monitor compensation trends and market data to ensure that the organization’s programs remain current and competitive.

5. Lead and manage the administration of compensation-related activities, including annual compensation cycles, bonus programs, job evaluations and salary surveys.

6. Analyze and recommend changes to the organization’s total rewards program to ensure it meets the needs of the business and its employees.

7. Develop and implement communication strategies to ensure that employees understand and value the organization’s total rewards program.

8. Manage the budget for the total rewards program and ensure that the organization is able to maximize its return on investment.

9. Provide advice and guidance to management on compensation and total rewards related matters.

10. Develop and implement strategies to ensure that the organization is in compliance with applicable laws and regulations.