Director of Total Rewards

Responsibilities

STRATTEC Security Corporation is one of the world's largest suppliers providing access and security systems to the automotive market. This drives us to be an innovative company with the latest technology. STRATTEC creates exciting opportunities to people who like to work in an environment that challenges them to be creative, deal with multiple customers and projects, and research the latest technology. You will help STRATTEC to be a pioneer by working closely with the largest automotive customers in the world along with the largest electronic partners.

Let us know who you are! We want to know what motivates you and why you are the ideal candidate for our team.

Purpose & Scope:We are seeking a strategic and results-driven Director of Total Rewards to lead and manage all aspects of our compensation, payroll, benefits, and recognition and rewards programs. This role will be responsible for designing and implementing compensation strategies, managing benefits offerings, overseeing equity and incentive programs, and ensuring effective communication of rewards to employees. The Director of Total Rewards will also oversee payroll operations, conduct market analysis, and manage the cost and budgeting processes associated with total rewards. Additionally, experience with self-insured health plans to ensure effective management and optimization of our healthcare offerings is ideal. This position requires a strong understanding of compensation structures, benefits management, regulatory compliance, and employee engagement. A key focus of this role will be to ensure that our total rewards programs are designed and communicated in a way that promotes positive employee experiences, fosters strong relationships, and supports our commitment to exceptional customer service to our employees. This is a highly visible role and a great opportunity to shape and drive the direction of the total rewards strategies.

Key Responsibilities:

• Lead the design, development, and implementation of the company’s compensation strategy and structure.
• Conduct regular market analysis and benchmarking to ensure competitiveness and equity within the market.
• Ensure compensation plans are aligned with business goals and employee performance.

• Oversee and manage the company’s benefits programs, ensuring they meet the needs of employees and are cost-effective.
• Evaluate and recommend benefit plan offerings, such as health, retirement, and wellness programs.
• Work closely with vendors to ensure smooth administration of benefits plans and compliance with regulations.
• Lead the management and optimization of self-insured health plans, including vendor management, claims analysis, and cost management.

• Lead the design and implementation of equity and incentive programs, including stock options, performance bonuses, and other reward mechanisms.
• Ensure that incentive programs are aligned with business objectives and employee motivation strategies.

• Regularly analyze and benchmark compensation and benefits against industry standards to maintain competitive offerings.
• Present recommendations for compensation adjustments based on market trends and internal considerations.

• Develop and deliver clear and engaging communication about total rewards programs to all employees, ensuring that employees feel informed and empowered in understanding the full value of their compensation and benefits packages.
• Foster open lines of communication and provide avenues for employees to ask questions and provide feedback on rewards programs, emphasizing accessibility and approachability in all interactions.

• Oversee the budgeting process for total rewards programs, ensuring that compensation and benefits offerings are cost-effective and aligned with the company’s financial goals.
• Continuously assess the cost impact of rewards programs and work to optimize them without sacrificing employee satisfaction.

• Oversee and manage payroll processing ensuring compliance with all applicable laws and regulations.
• Collaborate with HR and finance teams to maintain payroll systems and resolve any payroll-related issues.

• Ensure all total rewards programs comply with legal and regulatory requirements.
• Manage and oversee required regulatory filings for compensation and benefits, including but not limited to:
• Prepare and present regular reports to senior leadership on the effectiveness and financial impact of total rewards programs.

Qualifications

Qualifications:

• Bachelor's degree in Human Resources, Business Administration, or related field (Master's degree preferred).
• 10 years of experience in total rewards management, payroll, compensation, benefits, and rewards and recognition programs.
• Proven experience with managing self-insured health plans, including vendor management, claims analysis, and cost control.
• Strong knowledge of compensation structures, market analysis, benefits management, and equity/incentive programs.
• Experience in designing and managing total rewards budgets and cost controls.
• Exceptional customer service in addressing employee inquiries and concerns.
• Demonstrated ability to develop and implement effective communication strategies.
• In-depth understanding of employment laws and regulations related to compensation and benefits.
• Proven leadership and project management skills.
• Strong analytical and problem-solving skills, with attention to detail.
• Excellent communication and interpersonal skills.
• Familiarity with regulatory filing requirements related to total rewards programs.

• Bilingual English/Spanish is a nice to have but not required.

If you are a strategic thinker with a passion for building and managing comprehensive total rewards programs, we encourage you to apply and join our team!

STRATTEC SECURITY CORPORATION is an equal opportunity employer and practices affirmative action to recruit, hire, train, upgrade, transfer and promote persons in all job titles without regard to race, color, creed, religion, sex, age, national origin, disability or protected veteran status.