Vice President Total Rewards
regal rexnordRosemont (IL)
About the role
Work Model:
Work Model: You'll work in a hybrid model, onsite at your designated Regal Rexnord location at least 3 days per week (Monday-Thursday), with flexibility to work remotely up to 2 days, including Friday. Scope of leadership role
A key influencer of Regal Rexnord's short and long-term success depends on the ability to have the right talent, in the right roles at the right time to drive the enterprise strategy. Reporting to the CHRO, the Vice President, Total Rewards will serve as a key member of the HR Leadership Team. This is astrategicandhands-on rolethat is responsible for developing strategy, building roadmaps of implementation, administration, communication, compliance and providing thought leadership. Responsible for leveraging their expertise to lead Regal Rexnord's global compensation and benefits functions through assessing the effectiveness and competitiveness of Regal Rexnord's total reward programs while anticipating and navigating the ever changing compliance landscape. The VP serves as a key partner to the CHRO, CEO along with the Human Resources Leadership Team (HRLT) and the Executive Leadership Team (ELT). S/he will partner with this cross-functional team to enable Regal Rexnord to acquire, develop and retain a high quality, diverse workforce. The VP, Total Rewards will lead and develop an internal team and supplement resource needs with outside vendors and resources. The role will lead 3 direct reports: Sr Manager of Compensation, Manager of Health & Welfare Benefits and Manager of Retirement & Pension Plans. S/he must be forward thinking and have the ability to expeditiously execute global projects and programs. The successful candidate must be able to generate win-win outcomes by building partnerships across the enterprise while aligning expectations and integrating various points of view.
Key Responsibilities:
Contribute to the development of Regal Rexnord's Employee Value Proposition. Evolve Regal Rexnord's Total Compensation philosophy and practices to enable Regal Rexnord to acquire and retain high quality, diverse, A-player talent. Provide input into the development and implementation of a comprehensive communication strategy for total rewards programs; oversee preparation of annual total rewards statements and accompanying long term incentive communication for executive leaders. Collaborate and partner with leadership to understand their challenges related to compensation, benefits, and other reward programs and key issues in attracting, motivating and retaining high quality, diverse talent. Demonstrate continuous improvement and deliver results aligned with enterprise and HR strategy, including KPIs.
Compensation:
Evolve the existing Global Job Architecture and Salary Structure framework to enable a simplified approach to aligning jobs, grading and market pricing within various regions. Lead the process for acquiring annual market data and conducting detailed, competitive research, analysis and modeling to ensure internal equity and external competitiveness of Regal's compensation programs, including annual increase budgets, competitive assessments of trends and metrics, and financial impact modeling of incentive design scenarios. Oversee the annual merit award cycle, including HRIS system integration and support the development, implementation and ongoing maintenance of compensation tools and systems that allow managers, associates and HR leaders to manage compensation decisions. Serve as the subject matter expert on compensation related matters and oversee the review of Vice President salary offers and adjustments. Ensure compliance with employment-related statutory and/or regulatory requirements regarding employee pay and employment while remaining current on compensation related legislations. Partner with the CHRO in creating and preparing Board and Compensation Committee materials. Partner with the CHRO, CEO, CFO and GC on strategic plans for Named Executive Officers (NEOs) and Executive compensation. Key contributor to the Compensation Discussion & Analysis (CD&A) of the Proxy.
Benefits:
Evolve Regal Rexnord's benefit strategy globally that incorporates competitiveness, quality and cost. Develop a
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