Director of Benefits & Compensation
With more than 2,600 locations nationwide, Public Storage is the leader in the self-storage industry, and given our number of tenants, we may very well be the world's largest landlord. We've experienced unprecedented growth over the past four decades, and it's in no small part due to the dedicated team that has helped us become an S&P 500 industry leader, the country's largest real estate investment trust (REIT), and the most recognizable name in self-storage.
Public Storage currently has an opportunity for a Director of Benefits and Compensation to work out of our corporate office located in Glendale, CA. This position will be responsible for provide direction, management and leadership to the Benefit Services department.
- Planning, developing, managing and modifying an employee benefits program that supports company objectives and is responsive to the needs of employees in collaboration with contracted consultants.
- Collaborating with the contracted consultants to manage the brokerage/consulting arrangement for all Benefit Services contracts and the vendor relations and contract negotiations for those vendors.
- Administer employee benefits programs such as retirement plans; medical, dental, vision plans; life insurance plans; disability programs; and wellness programs
- Interpreting and ensuring compliance with federal and state laws and regulations, and company policies regarding all Benefit programs, to include tax implications, reporting and savings related to all aspects of fringe benefits.
- Prepare for execution, with legal consultation, benefits documentation, such as original and amended plans, benefit agreements and insurance policies. Instruct insurance carriers, trustees and other administrative agencies outside the company to effect changes in benefits program once approved. Ensure prompt and accurate compliance.
- Work with general accounting to identify and implement appropriate internal controls for Benefits and ensuring compliance with those internal control procedures and regulations.
- Handle benefits inquiries and complaints to ensure quick, equitable, courteous resolution. Maintain contact in person, and by phone or mail, with physicians, insurance companies, employees, and beneficiaries to facilitate proper and complete utilization of benefits for all employees
- Developing, updating, and disseminating Benefit program policies, procedures, manuals, forms, and resource materials for new and existing programs through a variety of media.
- Providing educational opportunities for employees regarding their benefits and deductions to facilitate informed choices and support employee retention.
- Managing the hiring, training, supervision, and evaluation of all Benefit Services personnel.
- Monitors the effectiveness of existing compensation policies, guidelines and procedures recommending plan revision as well as new plans that are cost-effective and consistent with compensation trends and company objectives and provides guidance to appropriate staff
- Manages implementation and maintenance of compensation programs
- Provides advice to management on pay decisions, policy and guideline interpretation, and job evaluation, including the design of creative solutions to specific compensation-related programs
- Responsible for the overall administration, design, implementation, and evaluation of the Company's compensation programs (executive, technical, professional, and hourly compensation structure, classification, compensation benchmarking, annual merit review, stock grant awards and administration)
- Directs a small staff engaged in the compensation and benefits department's programs, including job evaluations, development of job descriptions, salary recommendations, benefits, and incentive programs.
- Assist senior executive leadership in the preparation of materials for relevant compensation committee and board approval.
- Supports HR in the process for job upgrades and requests for employee compensation review.
- Participates in, conducts and/or acquires exempt and nonexempt salary surveys to ensure corporate compensation objectives are achieved
- Bachelor’s degree in related field; minimum of 7 years of progressive experience in the design, communication, and administration of health & welfare benefits, defined contribution plans, short-term incentive, long-term incentive, and stock programs.
- Experience working with employee benefit and/or retirement programs and interpreting and explaining laws, policies and regulations, negotiating contracts and/or contract administration, business practices, contract management, or other related discipline.
- Knowledge of laws, mandates, and tax as they relate to health and retirement benefits.
- Experience working with computerized payroll and benefit systems.
- Knowledge of group insurance program designs and benefit levels, including typical benefit provisions, limitations, cost containment, and impact on plan costs and covered members.
- Experience with managing employee benefit administration and claims procedures.
- Demonstrated commitment to excellence, high ethical standards, and maintenance of confidentiality.
- Demonstrated success providing professional advice and exercising good judgment.
- Strong verbal and written communication skills.
- Excellent organizational skills.
- Strong data analytical skills.
- Proficiency on MS suite of products (Office, Word, Excel, Powerpoint) and HRIS software (experience with Workday a plus).
HIPAA & Security Requirements
All employees must comply with the Health Insurance Portability Accountability Act of 1996 (HIPAA) as it pertains to disclosures of protected health information (PHI) as described in the Notice of Privacy Practices and HIPAA Privacy Policies and Procedures. As a component of job roles and responsibilities, employees may have access to covered information, cardholder data or other confidential customer information which must be protected at all times. As a result, employees must explicitly adhere to all data security guidelines established within the Company’s Privacy & Security Training Program.
All your information will be kept confidential according to EEO guidelines.