Skills & Competencies for Compensation Director

Compensation Director job profile

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JOB SUMMARY for Compensation Director

Directs, designs, and plans compensation policies, objectives, and initiatives.

JOB RESPONSIBILITIES for Compensation Director

Oversees the collection of wage, salary, and incentive survey data to ensure the organization's compensation programs/objectives are competitive. Plans and administers long and short-term equity programs and executive programs that drive company performance and comply with laws and regulations . Ensures compensation programs remain within budgetary constraints. Oversees messaging to employees to promote clarity and reinforce the value of compensation programs. Keeps abreast of regulatory, market, and practice changes and trends. Champions timely and robust data collection and analysis processes that support research and market, pay equity, and other compensation studies.

Compensation Director SALARY RANGE

BASE 50%
$210,366
TOTAL 50%
$246,810
Job Level
M04
Job Code
HR09200488
Education/Degree
Bachelor's Degree
Reports To
Top Management

Compensation Director Skills and Competencies List

Proficiency Levels and Behavioural Indicators
Salary.com identifies five increasing levels of proficiency for each skill/competency. Some jobs require only a relatively low level of proficiency in each skill/competency, while other jobs will require a more advanced level of proficiency in the same skill/competency. These levels rate the degree of proficiency (skill level, expertise) we expect the incumbent to perform in the given skill/competency for the given job. Note that we intentionally do not associate timeframes or years of experience in performing the skill/competency because that can be misleading. Proficiency levels identify what the incumbent knows and can do rather than how long they have been doing it. Also, note that the proficiency levels are cumulative, e.g., a level 4 proficiency implies the ability to perform all the behaviors at the lower levels.
Check each Compensation Director skill and competencie below to view definitions.
JOB FAMILY COMPETENCIES CORE COMPETENCIES
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10 general skills or competencies (Job family competencies) for Compensation Director

1 Job Family Competencies – Benefit Programs
Proficiency Level -4
Skill definition-Designing, managing, assessing and implementing compensation plan to attract and retain talent.
Level 1 Behaviors
(General Familiarity)
Explains the importance and advantages of benefits program.
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Level 2 Behaviors
(Light Experience)
Participates in design and development of competitive benefit program.
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Level 3 Behaviors
(Moderate Experience)
Leads discussion on the cost constraints in offering benefits to employees.
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Level 4 Behaviors
(Extensive Experience)
Monitors benefit programs cost and recommends appropriate actions to mitigate cost.
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Level 5 Behaviors
(Mastery)
Develops HRIS to assist the analysis, evaluation and reporting of benefits.
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2 Job Family Competencies – Compensation Management
Proficiency Level -5
Skill definition-Managing and determining the salary, bonuses, and benefits to ensure competitive and appropriate compensation for employees.
Level 1 Behaviors
(General Familiarity)
Explains the importance of compensation management in retaining and alluring our employees.
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Level 2 Behaviors
(Light Experience)
Identifies and collects employee feedback on specific issues related to compensation and benefits.
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Level 3 Behaviors
(Moderate Experience)
Performs statistical analyses to support the implementation and management of compensation programs.
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Level 4 Behaviors
(Extensive Experience)
Manages our compensation program to assure an appropriate approach is established for compensation claims.
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Level 5 Behaviors
(Mastery)
Develops and maintains a framework for market-based salary ranges and compensation plan structure.
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3 Compensation Director - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Compensation Director
Proficiency Level - 4
5 Competency for - Compensation Director
Proficiency Level - 5

14 soft skills or competencies (core competencies) for Compensation Director

1 Core Competencies – Business Acumen
Proficiency Level -3
Skill definition-Insight into our organization's business, goals, and values. Ability to design and implement initiatives that facilitate successful outcomes.
Level 1 Behaviors
(General Familiarity)
Discusses the strengths and weaknesses of our products and services.
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Level 2 Behaviors
(Light Experience)
Explains advantages and disadvantages of different organizational structures from an efficiency perspective.
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Level 3 Behaviors
(Moderate Experience)
Evaluates supply chain efficiency with an eye toward improving shortcomings.
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Level 4 Behaviors
(Extensive Experience)
Leverages the latest technologies and tools that enhance business analytics.
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Level 5 Behaviors
(Mastery)
Designs and implements feedback loops to identify and promptly address business problems.
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2 Core Competencies – Budgeting
Proficiency Level -5
Skill definition-Applying specific policies, tools and practices to plan and prepare projected revenues, expenses, cash flows, and capital expenditures.
Level 1 Behaviors
(General Familiarity)
Explains the different purposes and uses of our organization's budgets.
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Level 2 Behaviors
(Light Experience)
Produces budget reports showing planned vs. actual variances highlighted and explained.
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Level 3 Behaviors
(Moderate Experience)
Reviews and helps approve major budget adjustments to negotiate and reconcile line variances.
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Level 4 Behaviors
(Extensive Experience)
Monitors budgeting processes to ensure adherence to our organization's financial practices and standards.
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Level 5 Behaviors
(Mastery)
Establishes operating procedures to guide the consistency and repeatability of our budgeting processes.
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3 Compensation Director - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Compensation Director
Proficiency Level - 4
5 Competency for - Compensation Director
Proficiency Level - 5

Summary of Compensation Director skills and competencies

There are 0 hard skills for Compensation Director.
10 general skills for Compensation Director, Benefit Programs, Compensation Management, Diversity and Inclusion, etc.
14 soft skills for Compensation Director, Business Acumen, Budgeting, Planning and Organizing, etc.
While the list totals 24 distinct skills, it's important to note that not all are required to be mastered to the same degree. Some skills may only need a basic understanding, whereas others demand a higher level of expertise.
For instance, as a Compensation Director, he or she needs to be skilled in Business Acumen, be an expert in Budgeting, and be an expert in Planning and Organizing.

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