Sr Compensation Analyst Job Description
- Minimum of 6-8 PLUS years of experience of progressively responsible human resource compensation experience in salary survey analysis and job description development and evaluation required.
- Level of knowledge normally acquired by the completion of a Bachelor’s Degree in a related field or equivalent Human Resources Compensation experience.
- Advanced knowledge of and experience with using excel spreadsheet software, including creating complex formulas across multiple data scenarios required.
- Software: People soft, Comp Analyst
- Professional experience in a Hospital environment is a big plus.
Education / Experience
- Bachelors Degree
- 7-10 Years Compensation Experience
Conducts, participates in, and analyzes organization-wide and discipline and industry specific market salary surveys on compensation practices. Researches required and special requests for compensation data. Interprets data points and interpolates various data sources to aggregate to target market for comparison. Creates spreadsheet analysis and summary reports to be used in reviewing and recommending compensation initiatives or job re-evaluations for department Directors. Conducts internal employee data and compensation analysis to recommend deviations from salary administration policies, determine market pay ranges, or special salary adjustments.
Develops and revises job descriptions and Key Results Areas (KRA’s) in conjunction with department Directors. Consults with Directors on detailed job content and ensures minimum skills and knowledge are appropriately determined to recruit qualified applicants and set performance standards that meet hospital needs/standards and Joint Commission requirements. Evaluates job descriptions to determine salary structure and grade assignment based on relevant market survey data, internal job equity analysis, recruitment and retention initiatives, and alignment of the job with the organizations targeted market placement.
Functions as a consultant to the organization on compensation and special pay program issues or requests. Meets with department management to analyze issues, conduct ad-hoc compensation surveys and analysis, consider solutions, approve special payments, and/or develop special pay programs that maintain fairness/equity and meet the organization’s needs. Documents special pay program criteria, guidelines, and payment administration processes that comply with audit and control requirements. Contributes to the development of compensation policies and procedures through research, analysis and process development. Participates in and/or leads special projects as requested. Maintains current knowledge of laws and regulations that may impact the Hospital's salary administration.
Conducts extensive analysis of primary and secondary market survey sources for development of the organization wide review and recommendation for adjustment of multiple staff and Director level salary structures. Researches outliers with survey vendors, compiles data spreadsheets by structure for developing different data aging and target market comparisons. Analyzes salary structure specific and individual level jobs for changes in market salary range, average pay, differential, registry rate movement and the hospitals overall annual merit increase budget. Recommends and costs all appropriate compensation structure and program adjustments based on unique recruitment and retention needs and to retain the hospital’s competitive position in the marketplace.