Terumo Medical Corporation - Franklin Township, NJ
posted 4 months ago
The Sr. Manager, Compensation at Terumo Medical Corporation will be responsible for the design, implementation, and ongoing administration of the company's compensation programs. This role is crucial in leading and implementing the formal Job Architecture process, which includes establishing career paths and advancing the job leveling and grading system across the organization. The Sr. Manager will support the HR department in successfully implementing strategic and operational initiatives while overseeing daily and annual compensation processes and other reward mechanisms. In this position, the Sr. Manager will participate in the development and lead the implementation of Terumo's total rewards compensation and incentive programs, ensuring alignment with organizational goals. Regular reviews and analyses of Terumo's compensation programs will be conducted to maintain competitiveness with the external marketplace, ensure internal equity, and comply with relevant labor laws and regulations. The role requires continuous evaluation of existing policies, guidelines, and procedures, with recommendations for revisions or new plans that are cost-effective and aligned with market trends and company objectives. The Sr. Manager will manage the benchmarking, design, and implementation of all compensation programs, including base pay, incentives, sales compensation, and long-term incentive plans, ensuring they align with the company's strategy and best practices. Administrative aspects of compensation must be efficient, effective, and scalable as the organization grows. The role also involves participating in market benchmark surveys, analyzing competitive market data, and developing recommendations for updates to job architecture, salary structures, and incentive targets to ensure market competitiveness. Additionally, the Sr. Manager will provide expertise and guidance to other HR team members, advising on pay decisions, policy interpretations, and job evaluations. Staying current on state and federal regulations relevant to compensation is essential, ensuring that recommendations and policies comply with legal standards. The Sr. Manager will assist in managing the existing HRIS system, ensuring optimal functionality, data maintenance, and integrity, while monitoring and evaluating the system's capabilities to meet Terumo's long-term needs. Providing technical support and troubleshooting for HRIS users is also a key responsibility, along with managing and developing compensation and HRIS team members.