Director, CompensationPosition SummaryA visionary leader responsible for the design, development and implementation of the Company's broad-based employee compensation and recognition programs. This role requires a deep understanding of base pay, incentive plans, recognition and executive compensation. Serves as the leader that position compensation programs to align with business needs the Total Rewards strategy to support the attraction and retention of desired talent. The Compensation Director is a crucial role on the Total Rewards leadership team to foster partnerships across HR and collaborate with Finance, Legal, Regulatory to align plan design and enhance the employee experience and organizational performance.
Essential ResponsibilitiesProgram Design & AdministrationDirect the assessment and development of broad-based employee compensation strategy, roadmap and programs to ensure alignment with business needs.
Champion innovative program offers in response to business growth needs and supporting employee engagement.
Assess market trends and formulate recommendations to maintain the right level of competitive market positioning within the larger total rewards framework.
Make evidence-based decisions for continuous improvement by analyzing program costs, utilization, and claims data to optimize plan design and expenses while maintaining or enhancing value for employees.
Provide leadership on program and policy implementation, administration, communication and change management for base pay and variable pay.
Ensure business continuity through the ongoing development and maintenance of standard operational procedures and process documentation.
Compliance Management & Regulatory Support- Ensure team stays abreast of regulatory changes and that business processes remain compliant with applicable federal, state and local requirements (e.g., FLSA, 409A, pay equity, wage notices).
- Ensure strong partnership with other cross-functional partners and alignment on ownership.
- Collaborate with internal partners to develop and implement strategy to obtain regulatory recovery on employee labor costs.
- Oversee the coordination and preparation of testimony, respond to regulator requests, and act as HR's witness for regulatory proceedings.
Executive Compensation- Serves as a rate case witness and attends hearing when applicable.
- Acts as a backup to the Executive Compensation & LTI Senior Manager.
- Support the preparation of proxy filings.
- Serves as an understudy on preparation of materials for the Governance, Compensation and Nominating Committee (GCN) meetings.
Team Development & Leadership- Build, mentor, and lead team of compensation consultants to foster a high performing culture focusing on value creation, operational excellence, collaboration and continuous learning.
- Set clear objectives, provide regular feedback, and guide professional development to strengthen the team's capabilities.
- Promote cross-functional partnerships with HR, Finance, Legal and Regulatory to drive integrated solutions and strategic alignment.
Minimum Requirements- Bachelor's degree in a HR, business, or related field or an equivalent combination of education and relevant experience. Advanced degree preferred.
- 10+ years of progressive experience in compensation, with at least 5 years in a leadership or strategic role.
- Some exposure and working knowledge of executive compensation and LTI program administration.
- Strong understanding of relevant laws and regulations governing compensation programs at the federal and state levels.
- Advanced analytical, consulting and influencing skills, with a track record of identifying issues and formulating solutions.
- Demonstrated experience with various HRIS and compensation systems.
- Profession certifications such as CCP, GCP or similar credentials are highly valued.
Key Competencies/Skills- Thought Leadership: Ability to develop and articulate a forward-thinking compensation strategy that aligns with organizational goals, challenge status quo and introduce creative solutions.
- Analytical & Financial Acumen: Strong analytical mindset and skilled in interpreting complex data to inform decision-making and demonstrate program impact and knowledgeable in budgeting, financial planning, and financial impact of compensation programs.
- Effective Communicator: Proven interpersonal and communication skills to effectively interface with individuals and groups at all levels of the organization by translating complex concepts in a way that can be easily understood by others.
- Project Management: Consistent in managing initiatives through exercising the discipline of core project management practices of timelines, milestones, progress tracking, and budget management.
- Organizational Planning: Effectively structure, prioritize and manage tasks, resources and time to consistently achieve deliverables per established deadlines.
- Influence & Collaboration: Strong stakeholder management skills and the ability to communicate complex concepts clearly and persuasively.
- Detail Oriented: Keen attention to details and operate at a high level of accuracy.
- Tech-Savvy: Strong aptitude for comprehending, utilizing, and adapting to new technologies with high-level efficiency and effectiveness.
- Vendor Management: Ability to develop productive relationships with external service providers to achieve organizational objectives.
- Team Leadership: Skilled in coaching, skill development and performance alignment that empowers ownership and decision making across the team.
Success Measures- Compensation programs are competitively positioned and aligned with business needs.
- Program effectiveness is demonstrated through metrics and dashboards covering cost versus benefit, usage and employee value proposition.
- Departmental budgets and expenses are managed within corporate guidelines.
- Business continuity is sustained through process documentation, cross training and a defined operational support structure.
- Establish a high performing team with an influential, consultative approach and a good bench strength for succession planning.
The anticipated starting base pay for this position is: $148,400.00 to $210,733.00 per year
This position is eligible for the following benefits: Annual Incentive Program, Long Term Incentive, Medical/Pharmacy Plan, Dental, Vision, Life Insurance, Dependent Care Reimbursement Account, Health Care Reimbursement Account, Health Savings Account (HSA) (if enrolled in eligible health plan), Limited-Purpose FSA (if enrolled in eligible health plan and HSA), Transportation Reimbursement Account, Short-term disability (STD), Long-term disability (LTD), Employee Assistance Program (EAP), Fitness Center Reimbursement (if enrolled in eligible health plan), Tuition reimbursement, Transit programs, Employee recognition program, Pension, 401(k) plan, Paid time off (PTO), Holidays, Volunteer Paid Time Off (VPTO), Parental Leave
Benefit plans are subject to change and Xcel Energy has the right to end, suspend, or amend any of its plans, at any time, in whole or in part.
