Rent the Runway (RTR) is transforming the way we get dressed by pioneering the world’s first Closet in the Cloud. Founded in 2009, RTR has disrupted the $2.4 trillion fashion industry by inspiring women with a more joyful, sustainable and financially-savvy way to feel their best every day. As the ultimate destination for circular fashion, the brand now offers infinite points of access to its shared closet via a fully customizable subscription to fashion, one-time rental or ownership. RTR offers designer apparel, accessories and home decor from 700+ brand partners and has built in-house proprietary technology and a one-of-a-kind reverse logistics operation. Under CEO and Co-Founder Jennifer Hyman’s leadership, RTR has been named to CNBC’s “Disruptor 50” five times in ten years, and has been placed on Fast Company’s Most Innovative Companies list multiple times, while Hyman herself has been named to the “TIME 100” most influential people in the world and as one of People magazine’s “Women Changing the World.”
About the Role:
As the Head of Total Rewards, you will lead the design and implementation of innovative and scalable compensation and benefits programs that enable the attraction and retention of top talent. Reporting to the Chief People Officer, you will drive outcomes that will impact our entire organization. You are an analytical, creative and thoughtful thinker who enjoys working with data and knows what it takes to succeed in a high-growth, high-demand cutting edge company. As the leader for this function, you will be empowered to build a team over time.
What You’ll Do:
- Design compensation & benefit plans that are aligned with the company's business objectives and talent strategy.
- Conduct, compile and present research, analysis and modeling to support design of competitive and impactful compensation and benefits programs.
- Iterate on and lead deployment of the company compensation review process (salary, short-term incentives and long-term incentives) including input on budgeting, and external market data, in partnership with HRBPs.
- Ensure our internal bands are calibrated on a regular basis, to maintain competitiveness with the external market, while tracking the effectiveness of our programs
- Conduct internal pay equity studies intermittently, and ensure our pay guidelines are adhered to fairly across the board
- Partner closely with Executive leadership and HR/Legal/Finance on our company stock & equity programs and grant guidelines
- Prepare and present materials to the Compensation Committee/Board of Directors.
- Ensure all compensation & benefits programs are effectively managed and compliant with external regulations and plan governance
- Maintain external relationships with vendors and advisors to review and manage compensation & benefits plan design and administration
- Bachelor's degree in HR, Finance, or business discipline required, master's degree in business or finance fields preferred.
- 10+ years of global compensation and benefits experience, preferably with some time spent in a fast paced high growth start-up or tech based organization. Public company experience is a plus.
- Strong knowledge of relevant ERISA, IRS, and DOL regulations.
- Experience in compliance with regulations, for example FLSA, ACA, ADA, COBRA, ERISA, FMLA, & HIPAA.
- Knowledge of legal requirements impacting compensation and benefit administration.
- Technical knowledge of compensation design, including incentive, commission, and executive compensation program designs and associated tax implications and requirements.
- Track record of providing creative, proactive and contemporary designs and programs responsive to the company's evolving strategies.
- Experience developing a long-term platform for rewards administration in a high-growth company.
- Must have an ability to roll up sleeves, (hands on work style) and be a team player.
- Demonstrated exceptional organizational, analytical, verbal and written communication, interpersonal, problem-solving, leadership, and project management skills.
- Demonstrated thorough understanding of general business operations and processes that enables this person to interact with internal and external customers, including all levels of management.
At Rent the Runway, we’re committed to the wellbeing of our employees, and aim to create a workplace that fosters both personal and professional growth. Our inclusive benefits include, but are not limited to:
- Paid Time Off including vacation, paid bereavement, and family sick leave - every employee needs time to take care of themselves and their family.
- Universal Paid Parental Leave for both parents + flexible return to work program - because we know your newest family member(s) deserve your undivided attention.
- Paid Sabbatical after 5 years of continuous service - Unplug, recharge, and have some fun!
- Exclusive employee subscription and rental discounts - to ensure you experience the magic of renting the runway (and give us valued feedback!).
- Comprehensive health, vision, dental, FSA and dependent care from day 1 of employment - Your health comes first and we’ve got you covered.
- 401k match - an investment in your future.
- Company wide events and outings - our team spirit is no joke - we know how to have fun!
- Hybrid Work - when our corporate employees return to the office post COVID they will have the option to work remotely 2-3 days a week, in accordance with Company policies.
Rent the Runway is an equal opportunity employer. In accordance with applicable law, we prohibit discrimination against any applicant or employee based on any legally-recognized basis, including, but not limited to: race, color, religion, sex (including pregnancy, lactation, childbirth or related medical conditions), sexual orientation, gender identity, age (40 and over), national origin or ancestry, citizenship status, physical or mental disability, genetic information (including testing and characteristics), veteran status, uniformed service member status or any other status protected by federal, state or local law.