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Compensation Senior Director
CVS Health Corporation
Woonsocket, RI, United States
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Position Summary
Would you like to join Fortune 7 CVS Health leading our dynamic compensation team? As a Compensation Senior Director - Retail, you will oversee a team to ensure the design, development, implementation, communication, and execution of base pay, short and long term incentive programs for 200,000 employees in the CVS Health Retail unit.
You will have significant influence and visibility across the organization, and be responsible to ensure that pay programs designs align with current and future business strategies. This role requires strategic and tactical innovation, extensive knowledge of compensation programs, strong partnership skills, leading edge and business insight acumen, and strategic and operational leadership to drive ongoing work and project-based initiatives. You will report to the VP, Compensation for CVS Health.
You will provide thought leadership, consulting and proactive execution related to compensation program development and management for the Retail business integrated with corporate the interpretation of compensation philosophy and practice. You will build relationships and collaborates with other business support groups such as Finance, business operations, and Corporate Communications to accomplish objectives.
You will manage business incentive plan design process, including modeling and costing in collaboration with Finance and the business unit. You will drive education and training of leaders related to compensation practices, partnering with HR business partners and HR Centers of Excellence colleagues.
You will oversee the job evaluation process for the client group and will collaborates with HR and leadership in the recommendation of equitable compensation and accurate job classifications for new hires and current employees. Ensure the internal equity and external competitiveness of compensation elements through strategic monitoring of business conditions, legal requirements, and understanding of industry best practices.
Duties & Responsibilities:
• You ensure compensation practices and procedures are effectively executed, and recommends alternatives to effectively meet business needs.
• You maintain knowledge of compensation approaches of peer companies. Develops and maintains relationships with Compensation professionals outside the company, as appropriate.
• Monitors compensation trends and changes in the marketplace and makes recommendations to HR and business unit leadership to ensure CVS Health maintains a compliant and competitive approach to compensation program delivery.
• You maintain thorough knowledge of federal, state, and local legislation influencing compensation to plan for potential actions to incorporate emerging legislation.
• You will ensure the participation in and timely submission of business specific salary surveys to ensure and maintain competitive market positioning and inspire change when appropriate.
• Reviews business unit pay structures annually and recommends changes or additions to improve effectiveness and alignment with business objectives and the market. This includes regular market by market analysis to ensure wage structures flex as appropriate.
• You will stay current on changes to other Total Rewards programs including benefits and Corporate Recognition program to ensure a holistic approach to Total Rewards consulting for Retail.
• You will lead a team of 5-6 compensation professionals.
Education
• Bachelor’s degree in Human Resources or related field required.
• Master’s degree in related field or MBA preferred.
Business Overview
CVS Health, through our unmatched breadth of service offerings, is transforming the delivery of health care services in the U.S. We are an innovative, fast-growing company guided by values that focus on teamwork, integrity and respect for our colleagues and customers. What are we looking for in our colleagues? We seek fresh ideas, new perspectives, a diversity of experiences, and a dedication to service that will help us better meet the needs of the many people and businesses that rely on us each day. As the nation’s largest pharmacy health care provider, we offer a wide range of exciting and fulfilling career opportunities across our three business units – MinuteClinic, pharmacy benefit management (PBM) and retail pharmacy. Our energetic and service-oriented colleagues work hard every day to make a positive difference in the lives of our customers.
CVS Health is an equal opportunity employer. We do not discriminate in hiring or employment against any individual on the basis of race, ethnicity, ancestry, color, religion, sex/gender (including pregnancy), national origin, sexual orientation, gender identity or expression, physical or mental disability, medical condition, age, veteran status, military status, marital status, genetic information, citizenship status, unemployment status, political affiliation, or on any other basis or characteristic prohibited by applicable federal, state or local law. CVS Health will consider qualified job candidates with criminal histories in a manner consistent with federal, state and local laws. CVS Health will not discharge or in any other manner discriminate against any Colleague or applicant for employment because such Colleague or applicant has inquired about, discussed, or disclosed the compensation of the Colleague or applicant or another Colleague or applicant. Furthermore, we comply with the laws and regulations set forth in the following EEO is the Law Poster: EEO IS THE LAW and EEO IS THE LAW SUPPLEMENT
Federal law requires employers to provide reasonable accommodation to qualified individuals with disabilities. If you require assistance to apply for this job, please contact us by clicking EEO AA CVS Health
CVS Health does not require nor expect that applicants disclose their compensation history during the application, interview, and hiring process.