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Compensation Strategy Jobs in Minnesota (NOW HIRING)

Sales Compensation Strategy & Design: * Manage the company's sales compensation strategy, policies, and governance framework. * Evaluate compensation effectiveness and recommend incentive plan ...

New

Sales Compensation Strategy & Design: * Manage the company's sales compensation strategy, policies, and governance framework. * Evaluate compensation effectiveness and recommend incentive plan ...

New

Director of Executive Compensation

Minneapolis, MN · On-site

$130K - $178K/yr

SUMMARY Responsible for leading the strategy, design, governance, administration, communication, and ongoing effectiveness of executive compensation programs at Mortenson. This position serves as an ...

New

Director of Executive Compensation

Minneapolis, MN · On-site

$130K - $178K/yr

SUMMARY Responsible for leading the strategy, design, governance, administration, communication, and ongoing effectiveness of executive compensation programs at Mortenson. This position serves as an ...

New

Compensation Analyst

Robbinsdale, MN · On-site +1

$29.14 - $43.72/hr

Assists in the development and implementation of the compensation strategic plan. Requirements Education • Bachelor's degree in Human Resources or related field required. Experience • Minimum 4 ...

Compensation Analyst

Robbinsdale, MN · On-site +1

$29.14 - $43.72/hr

Assists in the development and implementation of the compensation strategic plan. Requirements Education Bachelor's degree in Human Resources or related field required. Experience Minimum 4 years ...

Compensation Analyst

Robbinsdale, MN · On-site +1

$29.14 - $43.72/hr

Assists in the development and implementation of the compensation strategic plan. Requirements Education Bachelor's degree in Human Resources or related field required. Experience Minimum 4 years ...

Total Rewards Leader

Minneapolis, MN · On-site

$68K - $93K/yr

Develop and execute a market-competitive compensation strategy informed by external benchmarking, internal equity, business needs, and employee feedback. * Champion a culture of wellbeing and ...

Total Rewards Leader

Minneapolis, MN · On-site

$130K - $178K/yr

Develop and execute a market-competitive compensation strategy informed by external benchmarking, internal equity, business needs, and employee feedback. * Champion a culture of wellbeing and ...

Showing results 21-40

Compensation Strategy information

What is compensation strategy?

Compensation strategy refers to an organization's approach to designing and managing employee pay, benefits, and rewards to attract, motivate, and retain talent. It involves aligning compensation programs with business goals, market trends, and internal equity considerations. A well-developed compensation strategy helps ensure that employees are fairly rewarded for their work and that the company remains competitive in the job market. It typically includes salary structures, incentive plans, and benefits offerings tailored to the organization's objectives.

How does a compensation strategy professional typically collaborate with HR and business leaders to develop effective pay structures?

Compensation Strategy professionals work closely with HR teams and business leaders to align pay structures with organizational goals and market benchmarks. They participate in regular meetings to discuss workforce trends, company performance, and budget constraints, ensuring that compensation plans attract and retain top talent. This role often involves analyzing salary data, proposing adjustments, and presenting recommendations to leadership for approval, fostering a collaborative environment that balances business needs with employee satisfaction.

What are the key skills and qualifications needed to thrive in compensation strategy, and why are they important?

To thrive in Compensation Strategy, you need a strong background in data analysis, compensation principles, and human resources, often supported by a degree in HR, finance, or business. Familiarity with compensation management software, HRIS systems, and certifications like CCP (Certified Compensation Professional) is highly valuable. Excellent communication, problem-solving, and stakeholder management skills set top performers apart in this field. These capabilities ensure fair, competitive, and compliant compensation programs that drive employee engagement and organizational success.

What is the difference between Compensation Strategy vs Compensation Analyst?

AspectCompensation StrategyCompensation Analyst
Primary FocusDeveloping overall compensation plans and policiesAnalyzing salary data and market trends
ResponsibilitiesDesigning pay structures, benefits, and incentive programsConducting salary surveys, data analysis, and reporting
Required CredentialsHR or compensation certifications, relevant experienceDegree in HR, finance, or related field; analytical skills
Work EnvironmentStrategic planning, policy development, cross-department collaborationData analysis, reporting, supporting compensation decisions

While Compensation Strategy focuses on creating and guiding overall pay policies and structures, Compensation Analysts implement these strategies through data analysis and market research. Both roles are essential in ensuring competitive and equitable compensation practices within organizations.

What is an example of a compensation strategy?

A compensation strategy is a plan that organizations use to determine how to pay employees, often balancing base salary, bonuses, benefits, and incentives to attract and retain talent. For example, a company might implement a performance-based pay system that rewards employees for achieving specific goals, aligning compensation with organizational objectives. Developing an effective strategy requires understanding industry standards, job roles, and employee motivation factors.

What skills do you need to be a compensation strategy analyst?

A compensation strategy analyst needs strong analytical skills, proficiency in data analysis tools like Excel or HRIS systems, and a solid understanding of compensation structures and market trends. Excellent communication skills and the ability to interpret and present data effectively are also essential for developing competitive pay strategies.

What are popular job titles related to Compensation Strategy jobs in Minnesota?

For Compensation Strategy jobs in Minnesota, the most frequently searched job titles are:

What cities in Minnesota are hiring for Compensation Strategy jobs?

Cities in Minnesota with the most Compensation Strategy job openings:

$109K - $143K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Re-posted yesterday


Job description

Serve as a subject matter expert in compensation strategy and administration, ensuring competitive, equitable, and compliant pay structures that align with business objectives. This role leads complex compensation projects, mentors other analysts, and advises leadership on salary structures, job evaluations, and regulatory impacts across multiple business lines, including residential real estate, mortgage, insurance, and settlement services.

Job Duties and Responsibilities (Essential Job Functions)

Common job activities are listed below; actual position responsibilities may vary. Refer to your manager or human resources for specific duties and performance expectations.

  • Act as a subject matter expert on compensation principles, market trends, and regulatory requirements to ensure competitive and compliant pay practices.
  • Lead market pricing and benchmarking for all roles across multiple business lines; analyze market data and recommend adjustments to maintain competitiveness and internal equity.
  • Develop and maintain salary structures, pay ranges, and job evaluation frameworks aligned with business strategy and job architecture.
  • Advise leadership on compensation decisions, regulatory impacts, and strategic pay initiatives.
  • Serve as the subject matter expert for compensation and incentive plan design, leading complex analyses, market assessments, financial modeling, and program evaluations to develop and enhance base pay and incentive compensation programs; recommend plan designs, performance measures, and payout structures that support organizational objectives, and partner with Finance and operational teams on implementation and administration.
  • Mentor and provide guidance to other compensation analysts, fostering technical and professional development.
  • Support executive compensation activities, including benchmarking, analysis, and reporting.
  • Ensure compliance with applicable laws and regulations (FLSA, pay equity, etc.).
  • Contribute to process improvements and system enhancements for compensation administration.
  • Perform any additional responsibilities as requested or assigned.

Performance Expectations

  • Deliver accurate, high-quality work within expected time frames.
  • Demonstrate leadership and technical expertise in compensation practices.
  • Perform responsibilities with a high degree of independence, judgment, and accountability, achieving desired results within expected time frames and with a high degree of quality and professionalism.
  • Establish and maintain positive and productive work relationships with all staff, customers and business partners.
  • Demonstrate the behavioral and technical competencies necessary to effectively complete job responsibilities. Take personal initiative for technical and professional development.
  • Follow the company HR Policy, the Code of Business Conduct and all subsidiary and department policies and procedures, including protecting confidential company information, attending work punctually and regularly, and following good safety practices in all activities.

Qualifications

Education:

  • Bachelor’s degree in Human Resources, Business, Finance, or related field or 7-10 years of transferrable experience

Experience:

  • 5-7 years of progressive compensation experience, including market analysis and salary structure design.
  • Experience in multi-line businesses (real estate, mortgage, insurance) a plus.
  • Exposure to executive compensation practices desirable.

Knowledge and Skills:

  • Advanced analytical and modeling skills; proficiency in Excel and compensation systems.
  • Strong knowledge of compensation principles, market analysis, and regulatory compliance.
  • Excellent communication and presentation skills; ability to influence stakeholders.
  • Ability to work comfortably in ambiguous situations and exercise sound judgment when decisions are not black and white.
  • Skill in tailoring communication to different levels of the audience.

Other (licenses, certifications, schedule flexibility/OT, travel, etc.):

  • CCP certification preferred but not required.

Wage:   $109,600.00 - $143,800.00 annually; actual wage is based upon education and experience. Potential for annual discretionary bonus.

Benefits:   Full suite of benefits including Medical, Health Savings Account, Dental, Vision, Life Insurance, Paid Vacation (PTO), 401(k) with employer match, Flexible Spending Account, and Employee Assistance Program (EAP)

Equal Opportunity Employer