Director of Compensation
The Director of Compensation is responsible for directing the strategic planning, design, implementation, maintenance, regulatory compliance, communication, and administration of all corporate-wide compensation programs consistent with the organization’s human capital objectives.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Design and develop compensation strategies for CarMax in its entirety
- Partner with CarMax leaders to understand business needs and ensure compensation practices allow for attraction and retention of key talent
- Stay current on industry compensation practices and changing legal issues, assessing their potential impact on the business
- Anticipate future business changes and challenges and proactively partner with legal, HR and business partners to develop and gain buy-in on new or revised compensation plans
- Work closely with HR Partners on organizational design, career paths, and adjustments to existing job levels, titles, and pay relationships
- Provide leadership, support, and consulting to business leaders in all areas of compensation
- Oversee all development and administration of compensation programs including, but not limited to, base pay, merit, commission, bonus, equity, and all other incentive plans
- Oversee analysis of market compensation studies and external benchmarking, job analysis, and pay structure development of annual merit review, short-term and long term incentive programs
- Design sustainable system solutions for all compensation related programs and data
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Ability to communicate effectively (written and verbal) with all levels of the organization
- Ability to convey a professional and positive image to applicants and associates
- Ability to analyze issues both quantitatively and qualitatively to drive decisions, and develop effective alternatives and action plans
- Ability to lead teams and develop direct reports to allow them to grow professionally, improve performance, effectiveness, and efficiency, while maintaining or increasing engagement.
EDUCATION and/or EXPERIENCE:
- B.S. or B.A. degree in Human Resources, Business Management or other related function is required. An MBA or other business related graduate degree and CEBS certification is desirable.
- Minimum of 7 year of extensive knowledge of compensation development, design, implementation, and administration, financing methodologies, compliance and controls, as well as the compensation legal environment.
- 5+ years of experience leading teams and managing projects with broad business and associate impact
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