Executive Director of Compensation Job - United States
Merck & Co., Inc. Kenilworth, N.J., U.S.A. known as Merck in the United States and Canada, is a global health care leader with a diversified portfolio of prescription medicines, vaccines and animal health products. Today, we are building a new kind of healthcare company – one that is ready to help create a healthier future for all of us.
Our ability to excel depends on the integrity, knowledge, imagination, skill, diversity and teamwork of an individual like you. To this end, we strive to create an environment of mutual respect, encouragement and teamwork. As part of our global team, you’ll have the opportunity to collaborate with talented and dedicated colleagues while developing and expanding your career.
The Executive Director of Compensation will have responsibility for providing strategic and operational leadership for the compensation function. The new Executive Director will define and develop the strategic vision for global compensation that supports the business strategy and objectives. He/she will lead the design and development for Merck's broad-based compensation programs, plans and policies, while balancing global consistency and local requirements. The new Executive Director will be responsible for engaging with senior business leaders to understand divisional goals and challenges that inform the compensation strategy and design. The Executive Director will also partner with HR leadership to ensure alignment of compensation-related priorities and investment decisions.
The successful candidate will operate as a compensation thought leader to understand and shape leading and emerging practices based on industry trends and external market practices. He/she will monitor trends and regulatory developments that impact Merck's compensation programs to ensure compliance with all laws and regulations. This position will report to the Vice President of Global Compensation and Benefits, and will be responsible for the management, coaching, and development of a team of seven compensation professionals.
Specific responsibilities will include:
- Play a lead role in the development and evolution of the company’s compensation philosophy;
- Lead and manage the day-to day responsibilities of the compensation function;
- Develop and prioritize the strategic objectives for the compensation function, aligned to the overall business strategy;
- Manage divisional compensation support and analysis, including developing effective analytics that enables the organization to make data-driven compensation decisions;
- Monitor existing compensation program effectiveness, while focusing on continuous improvement;
- Oversee annual compensation survey submission and market pricing activities;
- Partner with the HR Operations team on the annual compensation planning process, including preparation of salary budget recommendations;
- Remain knowledgeable of federal, state, and local laws to ensure that the compensation programs are compliant with corporate policies and government regulations.
- Bachelor's degree is required;
- MBA or other graduate degree in a related field is strongly preferred.
- 15+ years of progressive work experience with at least 10 years in a compensation or benefits related role, ideally with a mix of consulting and corporate HR experience;
- Ability to influence, deliver results and collaborate across functions and teams to ensure strategic alignment, organizational buy-in and operational effectiveness;
- Strong business and financial acumen and confident presence with senior management;
- Strategic, innovative and forward-looking thinker;
- Excellent communication, data and analytical skills;
- Proven experience leading and managing a high-performing team;
Our employees are the key to our company’s success. We demonstrate our commitment to our employees by offering a competitive and valuable rewards program. Our Company’s benefits are designed to support the wide range of goals, needs and lifestyles of our employees, and many of the people that matter the most in their lives. If you need an accommodation for the application process please email us at firstname.lastname@example.org.
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Merck & Co., Inc. is not accepting unsolicited assistance from search firms for this employment opportunity. Please, no phone calls or emails. All resumes submitted by search firms to any employee at Merck via email, the Internet or in any form and/or method without a valid written search agreement in place for this position will be deemed the sole property of Merck. No fee will be paid in the event the candidate is hired by Merck as a result of the referral or through other means.
Visa sponsorship is not available for this position.
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Merck is an equal opportunity employer, Minority/Female/Disability/Veteran – proudly embracing diversity in all of its manifestations.
Job Title:Exec. Dir, Compensation
Primary Location: NA-US-NJ-Kenilworth
Other Locations: NA-US-Pennsylvania
Employee Status: Regular
Travel: Yes, 10 % of the Time
Number of Openings: 1
Company Trade Name:Merck
Nearest Major Market: New York City
Nearest Secondary Market: Newark
Job Segment: Manager, Consulting, Law, Compensation, Compliance, Management, Technology, Legal, Human Resources