Manager, Compensation and Benefits

Manager, Compensation and Benefits Job Locations US-WI-Milwaukee | US-IN-Indianapolis ID Category Human Resources Position Type Full Time Overview Versiti is a fusion of donors, scientific curiosity, and precision medicine that recognize the gifts of blood and life are precious. We are home to the world-renowned Blood Research Institute, we enable life saving gifts from our donors, and provide the science behind the medicine through our diagnostic laboratories. Versiti brings together outstanding minds with unparalleled experience in transfusion medicine, transplantation, stem cells and cellular therapies, oncology and genomics, diagnostic lab services, and medical and scientific expertise. This combination of skill and knowledge results in improved patient outcomes, higher quality services and reduced cost of care for hospitals, blood centers, hospital systems, research and educational institutions, and other health care providers. At Versiti, we are passionate about improving the lives of patients and helping our healthcare partners thrive. Position Summary Under the direction of the Director, Total Rewards the Manager, Total Rewards will be responsible for developing, implementing, and managing our total rewards programs to ensure they are competitive, equitable, and aligned with our organizational goals. In addition, the Manager will be an integral member of the team to establish direction and long range compensation and benefit strategy for the organization. Incumbent acts as Secretary to the Retirement Benefits Plan and Benefits Plans Committees. Responsibilities Total Rewards Strategy: Develop and implement total rewards strategies that attract, retain, and motivate top talent while ensuring internal equity and external competitiveness. Market Analysis: Conduct regular market analysis to benchmark our total rewards packages against industry standards and ensure our offerings remain competitive. Manage salary and benefits surveys participation to ensure practices, programs, and offerings are informed by the current market. Budget Management: Manage the total rewards budget and forecast program costs in collaboration with the Finance team. Compliance: Ensure compliance with all relevant regulations and laws governing total rewards practices, including FLSA, EEO, ERISA, ACA, HIPAA, COBRA, and other regulatory requirements. Communication and Education: Develop communication strategies to educate managers and employees on total reward policies, practices, processes, and programs to promote understanding and transparency. Data Analysis: Analyze total rewards data and metrics to identify trends, opportunities, and areas for improvement and make data-driven recommendations to enhance our total rewards programs. Collaboration: Collaborate with HR partners, finance, and business leaders to align total rewards strategies with organizational objectives and priorities. Compensation Management: Compensation Policy Development: Develop and maintain compensation policies and procedures to ensure consistency and compliance. Job Evaluation: Lead job evaluation processes to ensure accurate exemption status, job classifications, and appropriate compensation levels. Design and maintain career ladder structure for multiple job families and functions. Salary Structure: Design and maintain salary structures, ensuring they are equitable, transparent, and scalable to support organizational growth. Pay Equity Analysis: Conduct pay equity analyses to ensure fairness and compliance with equal pay regulations. Variable Pay Programs: Develop, implement, and manage variable pay programs, including bonuses, incentives, and commission structures, to drive performance and reward achievement. Long-Term Incentive Programs: Work closely with CEO and CHRO to align long-term incentive programs for a non-profit organization. Performance Management: Integrate overall performance management into compensation strategies to support employee development, drive a pay-for-performance culture, and align to organizational goals. Manage the merit increase process, including setting guidelines and managing budget allocations. Benefits Management: Plan Design and Administration: Design and administer employee benefit and wellness plans Vendor Management: Evaluate and select benefits vendors, manage relationships with benefits providers and ensure optimal service delivery. Open Enrollment: Manage the open enrollment process, including planning, communication, and support for employees during enrollment periods. Retirement Plans: Manage retirement plans, such as 401(k), 403(b) and 457(b), ensuring they are competitive and well-administered. Leave Management: Administer various types of employee leave, including FMLA, parental leave, and other leave programs. Cost Analysis and Optimization: Analyze and optimize benefits costs while maintaining or improving the quality of offerings. Qualifications Education Bachelor's Degree in Human Resources, Business Administration, or related field experience required Master's Degree In Human Resources, Business Administration, or related field preferred Experience Minimum of 8 years of experience in total rewards, compensation, or benefits, with a demonstrated track record of success in developing and implementing total rewards programs. required Prior experience leading and developing staff required Knowledge, Skills and Abilities In-depth knowledge of total rewards best practices, market trends, and regulations. required Strong analytical skills with the ability to interpret complex data and draw meaningful insights, including designing and developing detailed PowerPoint presentations to deliver key compensation and benefit information to executive teams required Working knowledge of HR laws and practices impacting employee benefits required Demonstrated understanding and ability to design and implement processes associated with benefit changes required Proven program and project management; Strong planning and organizational skills required Analytical and problem solving skills; working knowledge conducting complex calculations and analysis to determine benefits costs and ROI. Strong business acumen to understand business implications of benefits cost models. Strong sense of urgency, must be results and action oriented. required Experience in the design, development, and writing of comprehensive benefits communications, including employee portal, enrollment campaigns, ongoing programs required Track record of building and maintaining strong customer and cross-functional relationships while providing excellent customer service and the ability to work independently and with all levels of management and staff in support of strategy execution required Licenses and Certifications Certified Compensation Professional (CCP) preferred Certified Employee Benefits Specialist (CEBS)-IFEBP preferred Tools and Technology Proficiency in HRIS systems and total rewards software. required Advanced Microsoft Suite skills (e.g., Excel, PowerPoint) required General use of phone and internet communication tools and online meetings required #LI-RM1 #LI-Hybrid Connect With Us! 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Created: 2024-10-23