Senior Director, Total Rewards

Company Overview

Sleep Number is a sleep wellness technology leader. For nearly four decades, we have placed sleep at the center of wellbeing, improving over 15 million lives with our Sleep Number smart beds. We are guided by our purpose – to improve the health and wellbeing of society through higher quality sleep. This is exemplified through our 4,000+ mission-driven team members who passionately innovate to drive value creation through our vertically integrated business model, owning the process from start to finish, including selling in our over 650 stores nationwide.

Our team members are encouraged to bring their whole selves to work, sharing their unique perspectives, backgrounds and skills with Sleep Number every day. Whether you are entering, returning or experienced in the workforce, we have a place for you. We hope you join us in creating the future through higher quality sleep.

Position Purpose

Sleep Number is seeking a head of Total Rewards to lead the strategy, design and administration of the Company’s compensation, benefit and wellbeing programs.  This leadership position reports to the EVP, Chief Retail and People Officer and is a key member of the Human Resources leadership team.  As the Senior Director, Total Rewards, you will manage and develop a team of talented compensation, payroll and benefits professionals while fostering a culture of accountability, trust, inclusion, learning, and collaboration.

Primary Responsibilities

• Develop the Company’s overall Total Rewards strategy to attract, retain and motivate talent. 
• Lead all aspects of the executive compensation process including preparing and presenting meeting materials for the Compensation Committee of the Board of Directors.  Work closely with Chief Retail and People Officer, CFO, Chief Legal and Risk Officer, and outside consultants on executive compensation design.  Monitor trends and regulatory environment.
• Maintain competitive base salary structures through regular benchmarking and monitoring.
• Oversee the design and administration of variable pay programs, including the company’s annual incentive plan, sales compensation programs and all specialized incentive plans. Lead design and granting process for all long-term incentives.
• Develop and oversee the Company’s benefits strategy, ensuring programs are competitive, cost-effective, and aligned with team members needs and company wellbeing initiatives.
• Lead the design and administration of health, wellbeing, retirement, and leave programs, including vendor management, legislation trends and regulatory compliance.
• Partner with the internal communications team to effectively communicate the Total Rewards value story and programs to increase team member understanding. 
• Lead annual compensation strategy and planning including but not limited to execution of base salary, short- and long-term incentives, benefits and all related communications and administration. 
• Provide thought leadership and a variety of recommendations to the business on compensation issues including but not limited to new hire packages, performance recognition, incentive plans, retention arrangements and overall compensation structure. 
• In partnership with Finance, establish budgets for compensation and benefit programs, and monitor actual spending. Serve as key contributor and owner to annual proxy along with finance and legal teams.
• Establish and maintain alignment between performance management and talent assessment processes and pay programs. 
• Ensure that all compensation and benefit programs are in full compliance with applicable laws and regulations.  
• Lead the payroll function with strategic oversight of payroll operations, ensuring accurate, timely, and compliant payroll processing
• Drive continuous improvement and automation in payroll processes, systems, and reporting to enhance efficiency, accuracy, and team member experience

Position Requirements

• 10+ years progressive experience in compensation and benefits, to include executive compensation design and administration
• Bachelor’s degree in human resources, HR management, finance, accounting, or related field
• Senior-level experience developing and effectively communicating compensation philosophies, strategies and programs for publicly traded companies. 
• Effective communicator, with a team member centric approach
• A proven history of influencing executive leadership with a combination of deep subject matter expertise, relationship-building abilities, and a passion to create competitive, equitable and inclusive programs that contribute to a great company culture
• Experience with compensation benchmarking data (for example, Radford). 
• Strong understanding of i