What are the responsibilities and job description for the Compensation and Benefits Manager position at Tower Semiconductor?
Looking for a career path in the high-tech manufacturing industry? You are welcomed to become part of a team focused on delivering the most exciting semiconductor technology to the world!
If you enjoy working with talented people in a fast pace environment and are looking for an opportunity to grow your career in the high tech industry - then Tower Semiconductor is the place to be! Tower Semiconductor is a global specialty foundry leader! We specialize in manufacturing analog integrated circuits for more than 300 customers worldwide in growing markets such as automotive, medical, industrial, consumer and aerospace and defense, among others.
The Total Rewards Manager is responsible for designing, implementing, and managing the organization's total rewards strategy, including compensation, benefits, recognition, and well-being programs. This role ensures that total rewards align with business objectives, attract and retain top talent, and remain competitive in the market. The Total Rewards Manager collaborates with HR leadership and key stakeholders to develop data-driven recommendations that enhance employee experience and organizational success.
Compensation Management:
- Develop and oversee competitive compensation structures, including base pay, variable pay, and incentive programs.
- Conduct salary benchmarking, market analysis, and job evaluations to ensure internal equity and external competitiveness.
- Manage annual compensation cycles, including salary planning, merit increases, and bonuses.
- Partner with HR and finance teams to budget and forecast compensation-related expenses.
- Ensure compliance with federal, state, and local wage and hour laws, including FLSA, EEOC, and pay transparency laws.
Benefits & Wellness Programs:
- Design and administer employee benefits programs, including health, dental, vision, life insurance, disability, retirement plans (401k), and wellness initiatives.
- Lead open enrollment processes and ensure employees understand their benefits options.
- Evaluate vendor performance, negotiate contracts, and ensure cost-effectiveness of benefits offerings.
- Monitor industry trends and legislative changes to optimize benefits offerings and maintain compliance.
- Develop wellness programs that promote employee engagement, mental health, and overall well-being.
Recognition & Rewards Programs:
- Implement and manage employee recognition and reward programs that align with company culture and values.
- Assess effectiveness of recognition programs and recommend enhancements to drive engagement.
- Work with leadership to promote a culture of appreciation and performance-based rewards.
HR Analytics & Compliance:
- Use HR analytics and survey data to assess total rewards effectiveness and make data-driven recommendations.
- Monitor legal and regulatory requirements, ensuring all programs comply with applicable laws and company policies.
- Develop and maintain total rewards policies, procedures, and documentation.
Collaboration & Employee Communication:
- Partner with HR, finance, and leadership teams to ensure total rewards align with business strategy and workforce needs.
- Develop and deliver employee communication plans to enhance understanding and utilization of total rewards programs.
- Serve as a subject matter expert for employees and managers on total rewards policies and practices.
- Bachelor's degree in Human Resources, Business Administration, Finance, or a related field.
- 5 years of experience in total rewards, compensation, benefits, or HR.
- 3 years of experience in managing 1 or more direct reports.
- Strong knowledge of compensation structures, benefits administration, and regulatory compliance.
- Experience conducting market analysis and compensation benchmarking.
- Proficiency in HRIS, compensation tools, and benefits platforms.
- Advanced Excel skills and experience analyzing HR data.
- Certification such as Certified Compensation Professional (CCP) or Certified Employee Benefits Specialist (CEBS) is a plus.
Preferred Skills & Competencies:
- Strategic mindset with the ability to align total rewards with business goals.
- Excellent analytical, problem-solving, and project management skills.
- Strong communication and stakeholder management abilities.
- Ability to work in a fast-paced, dynamic environment.
Compensation: $126,000-140,000
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TowerJazz supports a diverse workplace and is an Equal Opportunity Employer. We are committed to affirmative action and equal employment opportunities for all employees and applicants in all terms and conditions of employment.
In compliance with federal law, all persons hired will be required to verify identity and eligibility to work in the United States and to complete the required employment eligibility verification form upon hire.
Salary : $126,000 - $140,000
