As member of the Global Center of Expertise (COE), the Principal Compensation Analyst will lead the global executive market pricing process and serves as the lead Executive Comp Consultant for the designate business groups. In addition, as a member of the executive compensation team, provides enterprise-wide compensation expertise and supports program design and deployment to ensure we incorporate local regulations and market best practices as well as stay current on executive compensation regulatory compliance. This position will report to a Compensation Director.
We believe that when people from different cultures, genders, and points of view come together, innovation is the result -and everyone wins. Medtronic walks the walk, creating an inclusive culture where you can thrive.
Preferred location is Minneapolis, MN or Mansfield, MA, however, this role can sit in any Medtronic office location or work remote.
A Day in the Life
Responsibilities may include the following and other duties may be assigned.
Executive Compensation - 60%
Serve as a liaison to assist designated business groups navigate the VP Appointment Governance process.
Advise and consult local Total Rewards teams on job evaluation methodology, internal job analysis and calibration, and total compensation recommendation.
Review submitted requests, conduct enterprise-wide calibration, and prepare final materials to submit for approval by Executive Compensation senior leadership team.
Support preparation of deliverables for Board of Director payments, coordinate with respective departments to ensure smooth execution of each payment cycle.
Provide guidance to ensure executive system job titles, job levels, and classification of function and family are set up properly based on established naming convention and methodology.
Provide support for various ad-hoc requests and compile analytics under tight timeframes.
Play a key role in development of Medtronic's Annual Proxy Statement working with internal and external stakeholders.
Global Executive Market Pricing - 25%
Serve as the lead for Medtronic's executive market pricing. Duties include being subject matter expert, consulting with local Total Rewards teams to ensure proper benchmarking and competitive positioning of internal jobs when compared to external market data.
Manage the annual executive market pricing project for both U.S. and Regions, which includes: in-depth market survey analysis, interpret the market change in salary ranges, and monitor country salary/economic changes against survey data trends.
Review methodology, stay abreast on market best practices, and propose re-assess of approach established criteria as necessary.
Establish and maintain systems requirements for administering executive salary ranges.
Global COE Compensation Team Member - 15%
Define process improvement and best practice opportunities to current business / work processes. Document and maintain procedures and business process work flow as related to compensation.
Manage compensation projects, including writing of proposals / recommendations, implementation and maintenance of cost effective and legally compliant compensation programs and practices.
Interact with peers, global team members, clients, and vendors, on matters of significant importance on a frequent basis. Cross country collaboration with Global Compensation team members to ensure continuity of global compensation programs and processes.
Must Have: Minimum Requirements
Bachelor's Degree with 7+ years of compensation, HR or finance experience, or 5+ years with an advanced degree
Nice to Have
Experience using analytical, statistical and problem solving techniques, tools, and methodologies
Experience with IT/HRIS software and systems (preferably: Workday, PeopleFluent, Fidelity, ePrism, Mercer Win) and advanced functions of Microsoft Office tools including Word, Excel and PowerPoint.
Certified Compensation Professional (CCP)
Global Remuneration Professional (GRP)
Job evaluation and knowledgeable of point evaluation methodology
Demonstrated ability to work independently and within a team
Excellent written and oral communication skills
High degree of initiative and self-motivation
Strong analytical skills and the ability to solve problems through analytical reasoning
Verbal, written and interpersonal skills necessary to communicate effectively with all levels of the organization. Ability to generate concise presentation decks to illustrate and communicate various compensation related information
Knowledge of compensation policies and programs and associated compliance issues
Experience in other areas of HR is a plus
Ability to work effectively in a team environment and build strong working relationships
Together, we can change healthcare worldwide. At Medtronic, we push the limits of what technology, therapies and services can do to help alleviate pain, restore health and extend life. We challenge ourselves and each other to make tomorrow better than yesterday. It is what makes this an exciting and rewarding place to be.
We want to accelerate and advance our ability to create meaningful innovations - but we will only succeed with the right people on our team. Let's work together to address universal healthcare needs and improve patients' lives. Help us shape the future.
Physical Job Requirements
The physical demands described within the Responsibilities section of this job description are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to be independently mobile. The employee is also required to interact with a computer, and communicate with peers and co-workers. Contact your manager or local HR to understand the Work Conditions and Physical requirements that may be specific to each role. (ADA-United States of America)
- Posting Date: Nov 17, 2020
- Travel: No