Compensation Analyst

GENERAL DESCRIPTION:

Responsible for providing professional guidance and specialized support, with a focus on the operational aspects of compensation administration. Researches job requirements and evaluates positions to ensure the company remains competitive in compensation through the collection, analysis, and maintenance of compensation data.

ESSENTIAL FUNCTIONS:

• Collects and organizes compensation data, including salary surveys and internal salary information. Conducts interviews and surveys with employees and managers to gather and document information about jobs, organizational structure, and occupations, including the duties, responsibilities, and skills required for each position.

• Analyzes compensation data to identify patterns, trends, and anomalies, providing insights to support decision-making. Prepares and presents summary reports on job and compensation analyses.

• Assists in developing and maintaining accurate, current job descriptions. Prepares and maintains job descriptions for each position within the organization, ensuring they accurately reflect the duties performed by incumbents.

• Participates in salary review processes by providing data and analysis to support salary adjustments and promotions. Evaluates positions and their respective responsibilities to determine exempt or nonexempt classification and appropriate salary ranges.

• Supports market studies to gather information on compensation trends and practices within the health insurance industry, ensuring the organization’s compensation packages remain competitive. Researches and analyzes competitive compensation practices in the labor market; contributes to established salary surveys and/or develops and implements customized surveys as needed.

• Generates periodic reports on compensation data, trends, and metrics for management review and decision-making.

• Participates in compensation surveys and conducts research on market competitiveness, pay equity, and compensation trends. Matches positions to salary survey data and other market benchmarks to determine competitive salary ranges for each position.

• Uses compensation software and systems to manage and update data efficiently. Supports the maintenance of current compensation information in Human Resources systems, ensuring its accuracy and completeness.

• Collaborates to ensure compensation practices comply with applicable labor laws and regulations.

• Prepares organizational charts and ensures changes are reflected in the Human Resources Information System (HRIS).

• Fully and consistently complies with all company policies and procedures, as well as local and federal laws and regulations applicable to the industry, while maintaining appropriate business and employment practices.

• May perform other assigned duties and responsibilities consistent with the education and experience requirements established in this document.

MINIMUM QUALIFICATIONS:

Education and Experience:

Bachelor’s degree in Human Resources, Labor Relations, Business Administration, or a related field.

A minimum of two (2) years of demonstrated professional experience related to the duties and responsibilities described above. This includes administering compensation programs involving:

• Salary structure administration.
• Job analysis and evaluation.
• Job description development.
• Design and evaluation of short- and long-term compensation incentive plans.
• Market analysis and salary surveys.

Experience in a dynamic, complex, and continuously changing work environment is preferred, ideally within the healthcare industry.

Other Requirements:

Proficiency in Microsoft Excel. Must be comfortable working with spreadsheets, including formatting and data analysis, and creating basic PowerPoint presentations.

Languages:

• English: Intermediate to advanced proficiency.