Magic Leap is growing rapidly and we would like to invite a leader with a passion for value-added best-in-class support to oversee, build and drive the Global Compensation strategy while creating a solid operating framework that enables the company to grow domestically and internationally in a highly efficient and effective manner.
The ideal candidate will ensure that compensation programs are competitive, sustainable, scalable and have an impact on the long and short-term performance of the organization.
This leader will be responsible for building a strong team that delivers high quality work to the Board of Directors, executive leadership and all employees across the organization.
This role will lead the Compensation team as a Center of Excellence for Magic Leap, offering oversight and best practices globally, keeping abreast of compensation and benefits trends across the globe as well as lead the realization, design, implementation and communication of a Compensation strategy.
- Provide technical expertise and proactive guidance to monitor and maintain competitive positioning, and advance and scale Magic Leap’s compensation and benefits programs to keep pace with the company’s rapid growth.
- Manage the compensation team for domestic and international compensation strategies and programs including Sales, Executive and Broad-Based plans. Lead and develop a highly-skilled team that can scale for growth.
- Develop, implement, control and improve administrative processes, while ensuring compliance with legal and regulatory requirements and best practices.
- Manage and effectively execute deliverables in a fast paced, high growth, global environment.
- Understand and comply with all applicable laws and regulations in the states and countries in which the company operates.
- Ensure that all programs, plans and policies meet appropriate compliance standards.
- Lead the due diligence and integration of compensation programs for acquisitions.
- Analyze and administer executive compensation programs including executive salary surveys, annual and long-term incentive programs, and deferred compensation plans.
- Responsible for managing annual salaried merit program, non-union hourly wage programs, conducting competitive market analysis, compression/internal equity analysis, review/recommend off-cycle market adjustments, promotions and advise on new hire offers as needed.
- Work effectively with the Board of Directors, executive leadership, management, employees, and vendors to build market-competitive global compensation programs which enable the attraction and retention of talent.
- Design and manage company health care and wellness programs in a manner that educates and promotes effective health care management and influences consumer behavior to ensure efficient and cost effective program design, administration, and utilization.
- Provide leadership and coordination of all activities focused on design and administration of the Company's retirement benefits.
- Oversee preparation and management of the annual employee benefits budget to effectively monitor and forecast related expenses to ensure effective control and identification of variances and trends
- Lead the Magic Leap annual open enrollment process, annual review and bidding process for plans, and benefits planning.
Compliance and Risk Management
- Contribute to compensation and benefits related compliance, governance, and fiduciary activities, including IRS and other government mandated requirements.
- Maintain a working knowledge of laws (i.e., ERISA, COBRA, HIPPA, FMLA, FLSA, ADA, PPACA, Dodd-Frank, etc.) that govern and impact employee compensation and benefits.
- Work closely with Internal Audit and Accounting departments to build and maintain compliant programs and procedures.
- Provide individual counsel on the creation and analysis of job descriptions to ensure internal and external equity.
- Perform job analysis/evaluations, FLSA exemption testing, appropriate leveling, administer internal job code structure, consolidate common job titling, ensure compliance with all federal and state regulation.
- Provides consultation to HR staff and management.
- Develop materials to communicate Corporate and BU compensation/benefits
- Minimum 10 years experience across compensation and benefits value chain.
- Deep experience in high tech compensation structures, including hardware, software, and internet services organizations.
- Global compensationexperience, particularly in North America, Asia, and Europe.
- Knowledge and understanding of laws and regulations relating to compensation and any differences between US states, particularly California.
- Bachelor's Degree required with a strong preference for an advanced degree or certification in the field of compensation and benefits.