Compensation Analyst

Job Description Summary

Responsible for all stages of the compensation cycle including but not limited to salary administration, performance management, job descriptions and incentive programs. Provides compensation program support to achieve the strategic goals of the organization, including the development and support of programs that attract, motivate, develop, reward, and retain a highly qualified work force, and that compensate the work force in an equitable and fair manner while ensuring that compensation programs are in legal compliance with laws and regulations related to compensation.

Job Description

Essential Functions

  • Assists in the design, implementation, administration and communication of the organization's total rewards programs, including the job evaluation process, market analysis and pricing, survey completion, and variable pay program design and implementation.
  • Works collaboratively with business line leaders in a business partner role to understand compensation challenges and provides expertise and recommendations for innovative compensation strategies. Involved in the planning, design and implementation of new programs based on identified needs.
  • Conducts audits to ensure that pay programs are in legal compliance with laws and regulations such as FLSA exemption regulations, the DOL's Pay Equity Act, EEO, accreditation requirements related to compensation, ADA, and with related legal statutes, regulations, and requirements.
  • Formulates recommendations regarding development of company salary structures, FLSA exemptions, job revisions and organizational structures.
  • Assist in the development and dissemination of communications related to our compensation and performance management programs.
  • Participate in developing and managing budgets for compensation programs.
  • Conducts analyses of jobs, hourly wages, salaries and incentives in order to evaluate internal equity, external competitiveness, and legal compliance of the company's pay practices.
  • Summarizes data and provides management with succinct analysis and recommendations in both written and verbal formats.
  • Serves as the lead on assigned projects, partnering with HR Service Operations, IT and payroll as needed.
  • Assists with special studies and recommendations on subjects such as incentive compensation, bonus plans, sales compensation or equity.

Education/Experience

  • A bachelor's degree in a related field is preferred.  Three to Five (3-5) years of experience is required.  Experience in the healthcare industry is a plus.

Skills & Knowledge

  • Strong analytical, problem-solving and interpersonal skills required.
  • Excellent project management skills.
  • Strategic and creative reward and recognition plan development skills necessary.
  • Broad understanding of compensation and employment laws required
  • Solid knowledge of human resource management systems is preferred, with Workday experience a plus. 
  • Advanced knowledge of Excel required:  able to use complex formulas, pivot tables, vlookups, graphs and charts is a must.
  • Strong skills in other MS Office applications, such as Word and PowerPoint.
  • Able to build and maintain internal and external relationships.
  • Must be able to anticipate and meet deadlines, and work well under pressure
  • Able to maintain data integrity through attention to detail and accuracy, prioritizing and meeting aggressive deadlines, and able to process, manipulate and summarize reports.