Sr. Compensation Analyst

JOB PURPOSE:

Responsible for analyzing and managing compensation programs, supporting compensation administration, ensuring alignment with industry standards and organizational goals, and translating the organizational strategies into results. This includes position description evaluations, FLSA determination, base and variable pay administration, survey participation, and conducting compensation evaluations.  Must have a strong background in compensation analysis, a keen understanding of market trends, and the ability to provide strategic recommendations that drive equitable and competitive pay practices.

SCOPE OF RESPONSIBILITIES

A.    Compensation Analysis: Conduct comprehensive compensation analyses to ensure internal equity and external competitiveness. Evaluate market trends, benchmark data, and salary surveys to make informed recommendations.
B.    Salary Reviews: Analyze and review salary data to identify discrepancies and provide recommendations for adjustments to ensure alignment with pay grade minimums and market conditions.
C.    Compensation Structures: Develop and maintain compensation structures, including salary ranges, pay grades, and incentive programs. Ensure structures are up-to-date and reflective of market conditions and organizational objectives.
D.    Reporting & Metrics: Prepare and present detailed compensation reports, metrics, and dashboards to HR leadership and other stakeholders. Track and analyze compensation trends and effectiveness.
E.    Policy Development: Assist in the development, implementation, and communication of compensation policies and procedures. Ensure compliance with legal requirements and industry best practices.
F.    Market Research: Stay current with compensation trends, regulations, and best practices. Conduct regular market research and salary benchmarking to ensure competitive pay practices.
G.    Employee Queries: Address employee inquiries related to compensation, including pay discrepancies and compensation structure questions. Provide clear and accurate information and support.
H.    Collaboration: Work closely with HR Business Partners, Finance, and other departments to support compensation-related initiatives and ensure alignment with overall business strategies.

PRINCIPAL ACCOUNTABILITIES:

1. Skills: Proficiency in compensation software and tools, advanced Excel skills, and experience with data analysis and reporting. Familiarity with HRIS systems is a plus.
2. Knowledge: In-depth understanding of compensation principles, labor market trends, and regulatory requirements. Knowledge of industry-specific compensation practices is an advantage.
3. Analytical Abilities: Strong analytical and problem-solving skills, with the ability to interpret data and provide actionable insights and recommendations.
4. Communication: Excellent verbal and written communication skills, with the ability to present complex information clearly and effectively to various stakeholders.
5. Other duties as assigned
    

QUALIFICATIONS: 

1. Experience: 5-7 years of experience in compensation analysis or a related role, with a strong track record of handling complex compensation issues and projects.  Healthcare experience preferred.  Physician Compensation experience is a plus.
2. Education: Bachelor’s degree in Human Resources, Business Administration, Finance, or a related field required. CCP or GRP certification is a plus.
3. Proficient with compensation research and data analysis.
4. Must have strong and proven analytical skills, detail oriented, and organizational skills.
5. Advanced Excel skills and Oracle Cloud experience preferred.

Competencies:

1.    Analytical leader who leverages data to influence decisions and has a high level of clinical business acumen.
2.    Takes a positive and proactive approach to management with the proven ability foster a culture of high performance through respect and collaboration.
3.    Ability to establish and maintain relationships with stakeholders, to drive deliverables and decisions to completion.
4.    Possesses exceptional communication skills that are appropriately challenging when needed, promoting an environment where issues are identified and resolved.
5.    Works with integrity and high ethical standards, while being comfortable with creating systems of accountability.
6.    High level of intelligence demonstrated through effective problem-solving skills, the ability to multitask and make decisions quickly.
7.    Ability to collaborate on several projects simultaneously with adherence to deadlines.
8.    Ability to prioritize tasks.
9.    HRIS systems and reporting.  
10.    Maintain a high degree of confidentiality.
11.    Problem solving, critical thinking, and deductive reasoning skills required.