For more than 85 years, GEICO has stood out from the rest of the insurance industry! As a wholly owned subsidiary of Berkshire Hathaway, we are one of the nation's largest, fastest-growing and financially stable auto insurers thanks to our low rates, outstanding service and clever marketing. In 2023, GEICO earned premiums worth over $40 billion U.S. dollars.
Our success is no secret - it's the result of investing in dedicated and hardworking associates who provide exceptional service and solutions for our clients. We’re actively seeking an accomplished Head of Compensation to join our People team reporting to the Head of Total Rewards. As Compensation Leader, you’ll move GEICO forward by creating competitive compensation programs that align with the company's business and strategic goals and enhance candidate attraction, employee engagement, retention, and satisfaction.
The successful candidate is an exceptional people leader who embraces new challenges, generates market insights, drives high-impact results, motivates others, creates followership, and maintains a high bar for talent, while fostering an environment of trust, collaboration, and belonging.
Location: Our department’s hybrid model is 3 days in the office, 2 days remote per week in our New York, NY or Chevy Chase, MD office.
More Specifically, You’ll
- Lead a team of compensation business partners and analysts to support leaders in business lines, operations and corporate functions including technology, AI and data. The team is accountable for partnering with HR Business Partners and senior business leaders to facilitate annual merit and bonus programs, year-end compensation process, develop sales incentive plans, benchmark roles and recommend start rate and pay package changes.
- Develop and build support for a multi-year roadmap of compensation priorities across client areas, regularly updating and reprioritizing the roadmap to reflect a changing landscape.
- Serve as escalation point, owning resolution with partners and senior business leaders including aligning expectations on priorities, scope, timing, and limitations on customizing pay.
- Provide consultation on job architecture changes and reviews, market pricing, annual compensation cycles, unique new hire offer packages, and retention packages.
- Develop, implement and administer base pay programs, including pay setting, pay structure development, and pay progression policy formulation for given client groups.
- Design, implement, and manage executive compensation programs that align with GEICO’s strategic goals and principals and ensure the packages are competitive, equitable, and compliant with regulatory requirements.
- Work closely with senior leadership and the board of directors to develop board materials that support compensation strategies that attract, retain, and motivate top executive talent.
- Lead meetings with C-Suite leaders, inclusive of developing compelling meeting materials, challenging and debating respectfully, and influencing outcomes.
- Focus on creating a culture of belonging and collaboration through attracting, actively developing, and supporting talent across the Compensation function.
- Support the team who will conduct complex modeling and analysis on all aspects of compensation which may include building analytical tools to predict and/or diagnose compensation issues, drawing themes and trends from data analysis to influence and support decision making, and effectively representing data in charts and graphs.
- Manage and direct the work of external vendors and consultants, as necessary.
- Lead compensation related communications and change management processes.
- Partner with the Workday team to create streamlined, intuitive compensation process solutions and with other corporate areas including Finance and Legal to ensure full compliance with GEICO’s compensation programs.
- Lead strategic compensation projects and other enterprise-wide compensation initiatives.
- Proactively stay up-to-date on industry and emerging market trends and institute best practices.
Qualifications
- 15 + years of experience in compensation with at least 10 years in a senior leadership role leading teams and developing complex strategic compensation design and executive compensation programs in a fast paced environment.
- Bachelor's or Master's degree in a field related to Finance, Business management/administration, or HR administration preferred.
- Certified Compensation Professional (CCP) preferred.
- Expertise with broad based, executive and sales compensation.
- Utilizes a consultative approach, strategic focus and pragmatism, coupled with highly analytical thinking and meticulous attention to detail.
- Strong interpersonal and client facing skills with HR Business Partners, Managers, and Senior Leadership at all levels within organization.
- Proven analytical and problem solving skills as well as an ability to manage multiple tasks simultaneously to successful completion in a fast-paced environment.
- External market awareness and insight into compensation trends and legislation.
- Advanced Excel expertise and ability to create, organize and manipulate large sets of data in complex Excel spreadsheets. Familiarity with HRIS applications (Workday) desired.
Annual Salary
$195,000.00 - $315,000.00
The above annual salary range is a general guideline. Multiple factors are taken into consideration to arrive at the final hourly rate/ annual salary to be offered to the selected candidate. Factors include, but are not limited to, the scope and responsibilities of the role, the selected candidate’s work experience, education and training, the work location as well as market and business considerations.
At this time, GEICO will not sponsor a new applicant for employment authorization for this position.
Benefits
As an Associate, you’ll enjoy our Total Rewards Program* to help secure your financial future and preserve your health and well-being, including:
- Premier Medical, Dental and Vision Insurance with no waiting period**
- Paid Vacation, Sick and Parental Leave
- 401(k) Plan
- Tuition Assistance
- Paid Training and Licensures
- Benefits may be different by location. Benefit eligibility requirements vary and may include length of service.
- Coverage begins on the date of hire. Must enroll in New Hire Benefits within 30 days of the date of hire for coverage to take effect.
The equal employment opportunity policy of the GEICO Companies provides for a fair and equal employment opportunity for all associates and job applicants regardless of race, color, religious creed, national origin, ancestry, age, gender, pregnancy, sexual orientation, gender identity, marital status, familial status, disability or genetic information, in compliance with applicable federal, state and local law. GEICO hires and promotes individuals solely on the basis of their qualifications for the job to be filled.
GEICO reasonably accommodates qualified individuals with disabilities to enable them to receive equal employment opportunity and/or perform the essential functions of the job, unless the accommodation would impose an undue hardship to the Company. This applies to all applicants and associates. GEICO also provides a work environment in which each associate is able to be productive and work to the best of their ability. We do not condone or tolerate an atmosphere of intimidation or harassment. We expect and require the cooperation of all associates in maintaining an atmosphere free from discrimination and harassment with mutual respect by and for all associates and applicants.
