Now, more than ever, the Toast team is committed to our customers. We’re taking steps to help restaurants navigate these unprecedented times with technology, resources, and community. Our focus is on building the restaurant platform that helps restaurants adapt, take control, and get back to what they do best: building the businesses they love. And because our technology is purpose-built for restaurants, by restaurant people, restaurants can trust that we’ll deliver on their needs for today while investing in experiences that will power their restaurant of the future.
Bready* to make a change?
Our People team is growing! The Director of Compensation and Benefits is a newly created role responsible for the design, implementation, management and ongoing evaluation of our compensation and benefits programs. Leading the compensation and benefits team and working in partnership with the People Team and leadership, this position plays a key role in determining how we will optimize our total rewards offering to attract top talent, foster retention and enhance engagement in our rapidly growing organization.
About this roll* (Responsibilities)
- Provide leadership to the compensation and benefits team. Set priorities, provide guidance and feedback on progress and foster team career growth. Work with team members to deliver on the compensation and benefits program responsibilities described below.
- Design, manage and administer compensation programs that support Toast’s business needs, including base salary, short-term incentives, long-term incentives and spot award programs. Provide advice on complex or unusual compensation situations.
- Partner with business groups to address compensation program needs, including partnership with Sales and Finance on the development of sales incentive plans.
- Evaluate competitive practices and positioning relative to the market and make recommendations to ensure our compensation and benefits plans are attractive and support Toast’s talent strategy.
- Develop and manage sources of market information, including surveys, professional associations and networking opportunities. Stay abreast of trends and identify opportunities for program changes.
- Manage compensation cycles including annual base salary, promotion, bonus and equity review cycles. Collaborate with members of the People team to identify pay-for-performance links, develop compensation planning guidelines, and create manager training and employee communications associated with compensation cycles.
- Enhance manager compensation acumen through the development of compensation guidelines and manager training, ensuring managers have the tools and knowledge necessary to make optimal compensation decisions.
- Ensure employees understand our compensation and benefit programs and how those programs contribute to Toast’s employee value proposition. Work cross-functionally to ensure employees have access to information about their compensation and benefits.
- Work with the VP, Total Rewards on aspects of executive compensation management, processes, disclosure and reporting.
- Ensure Toast’s compensation programs are compliant with all relevant regulations including but not limited to pay equity and FLSA.
- Research, analyze, and recommend benefits programs that support the needs of Toast’s diverse employee population. Stay abreast of benefit program innovations and trends.
- Identify and manage working relationships with benefit plan providers, vendors, auditors and consultants, ensuring quality delivery.
- Oversee the management of Toast’s 401(k) plan including plan design, recordkeeping and compliance. This role is a member of Toast’s Retirement Plan Committee and provides oversight to the management of Committee meetings including the agenda, meeting materials and follow-through on Committee approvals. Manage the working relationship with the external retirement plan advisor to the Committee.
- Manage Toast’s time-off guidelines and policies including PTO, FMLA, family leave and holiday policies. Work cross-functionally to ensure policies are documented, communicated and administered correctly.
- Manage benefit plan arrangements for Toast employees outside the US. Establish consulting relationships, as needed. Provide oversight on benefit plan selection and administration.
- Collaborate with the HR Systems and Payroll teams on benefit plan changes that require changes to our Workday benefits application and payroll deductions.
- Ensure all audit and regulatory processes for benefit plans are managed effectively and that our plans are compliant with relevant laws and regulations. Ensure all benefit program documentation and notices are updated and distributed.
- Provide compensation and benefits leadership on acquisition diligence and integration.
- Participate in other cross-functional projects and initiatives, as needed.
Do you have the right ingredients*? (Requirements)
- At least five years managing a compensation and benefits function, preferably in a publicly traded, high-growth company.
- Experience developing compensation and benefits programs and effective processes that support organization culture, values and business strategy.
- Demonstrated ability to work effectively in a team-oriented environment that is dynamic and subject to rapid change.
- Experience managing external service providers including consulting relationships, benefit plan providers and administrative service contracts.
- Strong project management and prioritization skills that enable effective management of multiple projects and competing deadlines.
- Outstanding written and verbal communication skills.
- Ability to build strong business partnerships and work collaboratively with a variety of stakeholders at all levels, including senior management.
- Requires a bachelor’s degree; advanced degree in a related field a plus.
*Bread puns encouraged but not required