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Compensation Manager

Hartford, Connecticut

Who Are We?

Taking care of our customers, our communities and each other. That's the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 160 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.

Compensation Overview

The annual base salary range provided for this position is a nationwide market range and represents a broad range of salaries for this role across the country. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment. As part of our comprehensive compensation and benefits program, employees are also eligible for performance-based cash incentive awards.

Salary Range

$93,800.00 - $154,700.00

Target Openings

1

What Is the Opportunity?

The Compensation Manager provides compensation consultation on implementing Travelers compensation philosophy and practices to ensure both internal and external competitiveness. Acts as a compensation subject matter expert for supported business groups and proactively partners with Human Resources functional colleagues on compensation related issues. Partners on/leads broader scope Compensation team initiatives/projects, considering broader comp/enterprise impact. Provides compensation support to Travelers' Annual Compensation Planning for supported businesses (survey submission, labor market analysis, management reporting, ad hoc review and analysis and consultation on recommendations). This role will primarily provide support to Travelers Europe.

Travelers offer a hybrid work location model that is designed to support flexibility. #LI-Hybrid

What Will You Do?

  • COMPENSATION CONSULTING AND EXPERTISE
  • Act as a collaborative business consultant and subject matter expert for human resources generalists (HRGs) and business partners. Understand general business operations and how functions support execution of business vision and strategy.
  • Ensure business practices align with compensation strategies/philosophy, compensation best practices, and Travelers' enterprise practices (balance business needs with enterprise).
  • Create ad-hoc analysis and reporting to address business issues, make recommendations for action based on insights.
  • Develop and consult on moderately complex offers (internal and external); consulting functional and compensation leads as needed.Consult with HRGs and business partners on Job content design, including:Conducting job evaluation, leveling, pricing, benchmarkingDeveloping job description content with a broader enterprise perspectiveProgressing on identified job dependency initiativesIdentifying opportunities for improvement and provide solutions to internal and market issuesPartnering with functional colleagues (TA, ER, Legal, etc.) Assess need and independently conducts compensation philosophy and tools training for HRGs; assists with designing new training and/or improving existing training.
  • COMPENSATION CAPABILITIES AND INITIATIVES
  • Partner on/leads broader scope compensation team initiatives/projects, considering broader compensation/enterprise impact.
  • Efficiently utilize compensation tools and technologies and mentor others in their use as needed.
  • Proactively identify, recommend and potentially implements enhancements to compensation team processes and practices.
  • Understand compensation strategies and best practices; stay apprised of both Travelers' enterprise and external best practices (market intelligence) and share with comp team and HRGs as appropriate.
  • Proactively and when appropriate, utilize relationships with functional partners (Talent Acquisition, Employee Relations, Legal, etc.) to ensure compensation practices are aligned with broader Human Resources/legal philosophy, knowledge and best practices.
  • ANNUAL COMPENSATION PLANNING
  • Labor Market Analysis:Facilitate survey submission and benchmarking.Analyze and scrub survey results, keeping in mind enterprise relativities and historical trends.Create and present market overviews/ presentations to supported HRGs and business leaders; make recommendations for changes based on survey trends.
  • Support Human Resource/management report development and makes recommendations for improvements for greater effectiveness.
  • Create salary budgeting and bonus and equity pool modeling.
  • Create ad-hoc analysis, identify issues and consults with HRGs on findings; make recommendations for action based on insights.
  • Analyze compensation planning data, identify trends and make appropriate recommendations.
  • Perform other duties as assigned.

What Will Our Ideal Candidate Have?

  • Bachelor's degree or equivalent with course work in business administration and/or human resources.
  • 6+ years of Compensation/Human Resources experience preferred, with experience and knowledge of, market analysis,pay structures, Compensation compliance laws/requirements and variable compensation and equity plans.
  • Knowledge of U.K. and Ireland labor markets and regulations preferred.
  • Strong analytical, problem solving, influencing, communications and project management skills preferred.
  • Strong written, verbal and presentation skills.
  • Demonstrated ability to work independently and in a team environment.
  • Demonstrated project management skills.
  • Demonstrated ability to partner with and influence others.
  • Ability to balance timeliness and accuracy.
  • Flexibility and ability to adjust to new situations and changing priorities.
  • Ability to proactively identify issues, analyze data and make recommendations. Thoroughly analyzes information and makes timely, practical decisions and recommendations.
  • Strong customer orientation.
  • Establishes and maintains effective work relationships.
  • Highly ethical and can maintain confidentiality.
  • Excel, Word, Power point and related software skills. Experience with Human Resource software.

What is a Must Have?

  • Minimum 4 years of experience working in compensation, human resources or analytical field such as finance or accounting.

What Is in It for You?

  • Health Insurance: Employees and their eligible family members - including spouses, domestic partners, and children - are eligible for coverage from the first day of employment.
  • Retirement: Travelers matches your 401(k) contributions dollar-for-dollar up to your first 5% of eligible pay, subject to an annual maximum. If you have student loan debt, you can enroll in the Paying it Forward Savings Program. When you make a payment toward your student loan, Travelers will make an annual contribution into your 401(k) account. You are also eligible for a Pension Plan that is 100% funded by Travelers.
  • Paid Time Off: Start your career at Travelers with a minimum of 20 days Paid Time Off annually, plus nine paid company Holidays.
  • Wellness Program: The Travelers wellness program is comprised of tools and resources that empower you to achieve your wellness goals. In addition, our Life Balance program provides access to professional counseling services, life coaching and other resources to support your daily life needs. Through Life Balance, you're eligible for five free counseling sessions with a licensed therapist.
  • Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.

Employment Practices

Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences. 


If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you.


Travelers reserves the right to fill this position at a level above or below the level included in this posting.

To learn more about our comprehensive benefit programs please visit http://careers.travelers.com/life-at-travelers/benefits/.


About Travelers

The Travelers Companies, Inc. (NYSE: TRV) is a leading property casualty insurer selling primarily through independent agents and brokers. The company's diverse business lines offer its global customers a wide range of coverage in the auto, home and business settings. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and generated revenues of approximately $25 billion in 2010.