What are the responsibilities and job description for the Compensation and Benefits Director position at Primetals Technologies?
Primetals Technologies USA is a leading partner for engineering, plant construction and lifecycle services in the metal industry. We provide innovative and practical solutions to support our customers with long-term sustainability goals and their increased competitiveness. We believe the technical and economic know-how of our employees is the key success factor of our company.
At Primetals Technologies, you are encouraged to learn, grow, develop and contribute.
Come join the 7,000 employees worldwide working at Primetals Technologies, a Group Company of Mitsubishi Heavy Industries.
Compensation and Benefits Director
GENERAL OVERVIEW
Reporting to the VP, Human Resources, the Compensation and Benefits Director will oversee all elements of the US compensation and benefit programs. The position is directly responsible for management and review of our annual compensation practices and for developing, implementing and leading the Health, Wellness and Retirement Benefits strategies for the Company.
RESPONSIBILITIES
- Oversees the administration of benefits programs for approximately 1,000 associates, including health, dental, vision, life insurance, retirement plans, and wellness initiatives across the various operations in the US.
- Oversee compensation program and strategies, including salary structures and incentive plans, that align with company’s goals.
- Conduct ongoing market analysis to ensure competitive and fair benefit offerings and compensation practices aligned with industry trends and regional.
- Participate in benefit provider contract negotiations and renewals; evaluate performance to ensure high-quality service and cost-effectiveness.
- Manage annual salary review process, including salary benchmarking and adjustments.
- Design, develop, implement, and lead benefits strategies and programs to align with corporate strategies and support business success.
- Responsible for overseeing benefits plan audits, monitoring administrative costs of our benefits programs, and recommending cost-efficient alternatives.
- Partner with the Executive team and external consultants on design, recommendations, analysis and implementation of benefits program as required. Manage Primetals benefits portfolio to ensure program designs are market competitive and fiscally sound.
- Manage Primetals benefits plans including reporting and analysis, design, cost management, administration, customer service, communication and vendor management.
- Stay current on legislation, trends, marketplace changes, and advances and make recommendations to ensure competitiveness and compliance in all relevant markets. Ensure all benefits-related compliance requirements are met.
- Direct the preparation and distribution of Total Rewards communications.
- Coordinate with HRIS and Payroll staff to ensure that the needed level of reporting and record keeping is developed and maintained. Ensure appropriate technology is maximized to administer all benefit programs.
- Partner with Corporate Finance, Legal and outside consultants as needed on the design and administration of benefits plans.
- Participate in M&A activity and the management and integration of benefit requirements.
- Drive Benefits Communications to ensure employees are aware of the value of their benefits and how to access them.
COMPENTENCIES
Knowledge of a wide variety of benefit plans, techniques and theories, including health, wellness, leave and retirement plans. Familiarity with current federal and state benefits compliance requirements.
Bachelor’s degree in HR, business administration or related field. Masters degree or HR-related certifications (i.e. SHRM or World at Work) are desirable.
Minimum of 10 years of experience in compensation and benefits management
Strong knowledge of compensation and benefits laws and regulations
